Wall Street brokerages expect American Express (NYSE:AXP) to post sales of $12.35 billion for the current fiscal quarter, Zacks reports. Sixteen analysts have issued estimates for American Express’ earnings. The lowest sales estimate is $12.09 billion and the highest is $12.55 billion. American Express posted sales of $10.24 billion during the same quarter last year, which indicates a positive year-over-year growth rate of 20.6%. The firm is expected to issue its next earnings results on Monday, January 1st.
According to Zacks, analysts expect that American Express will report full year sales of $50.37 billion for the current financial year, with estimates ranging from $49.00 billion to $51.18 billion. For the next year, analysts expect that the business will report sales of $56.64 billion, with estimates ranging from $52.30 billion to $58.82 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that follow American Express.
American Express (NYSE:AXP – Get Rating) last posted its quarterly earnings results on Friday, April 22nd. The payment services company reported $2.73 earnings per share for the quarter, topping the consensus estimate of $2.41 by $0.32. The company had revenue of $11.74 billion for the quarter, compared to the consensus estimate of $11.66 billion. American Express had a return on equity of 33.20% and a net margin of 18.92%. The firm’s quarterly revenue was up 29.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.74 EPS.
AXP has been the topic of several recent research reports. BMO Capital Markets upped their price target on American Express from $152.00 to $155.00 and gave the stock a “market perform” rating in a research note on Wednesday, January 26th. Robert W. Baird reiterated a “neutral” rating and set a $175.00 target price on shares of American Express in a research note on Tuesday. Morgan Stanley increased their target price on American Express from $218.00 to $223.00 and gave the company an “overweight” rating in a research note on Monday, March 28th. Bank of America increased their target price on American Express from $204.00 to $206.00 in a research note on Thursday, March 17th. Finally, Wolfe Research cut their target price on American Express from $240.00 to $226.00 in a research note on Thursday, March 17th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $196.47.
American Express stock opened at $174.71 on Friday. The company has a quick ratio of 1.68, a current ratio of 1.68 and a debt-to-equity ratio of 1.74. The company has a market capitalization of $131.57 billion, a P/E ratio of 17.51, a PEG ratio of 1.64 and a beta of 1.10. The stock’s 50 day moving average is $182.48 and its 200 day moving average is $176.64. American Express has a twelve month low of $149.89 and a twelve month high of $199.55.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, May 10th. Investors of record on Friday, April 8th will be issued a $0.52 dividend. This is a boost from American Express’s previous quarterly dividend of $0.43. This represents a $2.08 dividend on an annualized basis and a yield of 1.19%. The ex-dividend date of this dividend is Thursday, April 7th. American Express’s dividend payout ratio (DPR) is currently 20.84%.
In related news, insider Laureen Seeger sold 30,808 shares of the firm’s stock in a transaction on Monday, January 31st. The stock was sold at an average price of $175.57, for a total value of $5,408,960.56. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Anre D. Williams sold 139,909 shares of the firm’s stock in a transaction on Wednesday, February 9th. The stock was sold at an average price of $196.82, for a total value of $27,536,889.38. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 488,337 shares of company stock worth $89,685,314. 0.11% of the stock is owned by insiders.
A number of large investors have recently bought and sold shares of AXP. SBK Financial Inc. bought a new stake in American Express during the fourth quarter valued at about $25,000. Tyler Stone Wealth Management bought a new stake in American Express during the fourth quarter valued at about $25,000. Blue Bell Private Wealth Management LLC raised its holdings in American Express by 873.3% during the first quarter. Blue Bell Private Wealth Management LLC now owns 146 shares of the payment services company’s stock valued at $27,000 after acquiring an additional 131 shares during the period. Perkins Coie Trust Co bought a new stake in American Express during the first quarter valued at about $28,000. Finally, Rise Advisors LLC raised its holdings in American Express by 823.5% during the first quarter. Rise Advisors LLC now owns 157 shares of the payment services company’s stock valued at $29,000 after acquiring an additional 140 shares during the period. 83.98% of the stock is currently owned by institutional investors and hedge funds.
About American Express (Get Rating)
American Express Company, together with its subsidiaries, provides charge and credit payment card products, and travel-related services worldwide. The company operates through three segments: Global Consumer Services Group, Global Commercial Services, and Global Merchant and Network Services. Its products and services include payment and financing products; network services; accounts payable expense management products and services; and travel and lifestyle services.
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