Zacks: Analysts Expect American Express (AXP) Will Post Earnings of $2.06 Per Share

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Wall Street brokerages expect American Express (NYSE:AXP) to report $2.06 earnings per share (EPS) for the current quarter, according to Zacks Investment Research. Seven analysts have made estimates for American Express’ earnings, with the highest EPS estimate coming in at $2.12 and the lowest estimate coming in at $2.01. American Express posted earnings per share of $1.84 in the same quarter last year, which suggests a positive year-over-year growth rate of 12%. The firm is expected to report its next earnings results on Wednesday, July 17th.

According to Zacks, analysts expect that American Express will report full-year earnings of $8.10 per share for the current financial year, with EPS estimates ranging from $7.95 to $8.20. For the next year, analysts expect that the firm will post earnings of $9.01 per share, with EPS estimates ranging from $8.60 to $9.30. Zacks Investment Research’s earnings per share calculations are an average based on a survey of analysts that follow American Express.

American Express (NYSE:AXP) last announced its quarterly earnings data on Thursday, April 18th. The payment services company reported $2.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.00 by $0.01. The business had revenue of $10.36 billion for the quarter, compared to analysts’ expectations of $10.46 billion. American Express had a net margin of 16.60% and a return on equity of 29.86%. The firm’s quarterly revenue was up 6.6% compared to the same quarter last year. During the same period last year, the firm posted $1.86 earnings per share.

A number of brokerages recently issued reports on AXP. Royal Bank of Canada reissued a “sector perform” rating and issued a $120.00 price objective on shares of American Express in a research note on Friday, May 3rd. UBS Group cut shares of American Express from a “buy” rating to a “neutral” rating and set a $117.60 price objective on the stock. in a research note on Monday, April 29th. Morgan Stanley raised shares of American Express from an “equal weight” rating to an “overweight” rating and set a $140.00 price objective on the stock in a research note on Friday, May 3rd. Bank of America reissued a “neutral” rating and issued a $108.00 price objective on shares of American Express in a research note on Thursday, March 14th. Finally, Oppenheimer set a $119.00 price objective on shares of American Express and gave the company a “buy” rating in a research note on Wednesday, April 17th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $116.63.

In related news, EVP Richard Petrino sold 2,444 shares of the business’s stock in a transaction on Thursday, February 14th. The shares were sold at an average price of $107.11, for a total value of $261,776.84. Following the transaction, the executive vice president now owns 7,591 shares in the company, valued at $813,072.01. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Michael John O’neill sold 15,749 shares of the business’s stock in a transaction on Wednesday, April 24th. The shares were sold at an average price of $113.94, for a total transaction of $1,794,441.06. Following the completion of the transaction, the insider now owns 69,941 shares in the company, valued at approximately $7,969,077.54. The disclosure for this sale can be found here. Insiders own 0.21% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in AXP. FMR LLC lifted its holdings in American Express by 49.5% in the fourth quarter. FMR LLC now owns 24,583,840 shares of the payment services company’s stock valued at $2,343,332,000 after buying an additional 8,136,470 shares during the period. Oregon Public Employees Retirement Fund raised its holdings in shares of American Express by 9,218.5% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 7,340,593 shares of the payment services company’s stock valued at $77,000 after purchasing an additional 7,261,819 shares during the period. Norges Bank acquired a new position in shares of American Express during the fourth quarter valued at about $643,757,000. Egerton Capital UK LLP raised its holdings in shares of American Express by 18.4% during the first quarter. Egerton Capital UK LLP now owns 9,368,737 shares of the payment services company’s stock valued at $1,024,003,000 after purchasing an additional 1,452,890 shares during the period. Finally, Morgan Stanley raised its holdings in shares of American Express by 20.8% during the third quarter. Morgan Stanley now owns 6,393,693 shares of the payment services company’s stock valued at $680,864,000 after purchasing an additional 1,098,834 shares during the period. Institutional investors and hedge funds own 85.91% of the company’s stock.

NYSE:AXP traded up $0.78 during mid-day trading on Wednesday, reaching $117.79. The stock had a trading volume of 180,086 shares, compared to its average volume of 3,243,553. The stock has a market capitalization of $96.79 billion, a price-to-earnings ratio of 16.07, a price-to-earnings-growth ratio of 1.34 and a beta of 1.13. The company has a debt-to-equity ratio of 2.63, a current ratio of 1.88 and a quick ratio of 1.88. American Express has a 12 month low of $89.05 and a 12 month high of $119.65.

The business also recently announced a quarterly dividend, which will be paid on Friday, August 9th. Shareholders of record on Friday, July 5th will be paid a dividend of $0.39 per share. The ex-dividend date of this dividend is Wednesday, July 3rd. This represents a $1.56 dividend on an annualized basis and a dividend yield of 1.32%. American Express’s payout ratio is presently 21.28%.

About American Express

American Express Company, together with its subsidiaries, provides charge and credit payment card products, and travel-related services to consumers and businesses worldwide. It operates through three segments: Global Consumer Services Group, Global Commercial Services, and Global Merchant and Network Services.

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