Equities research analysts expect American Express (NYSE:AXP) to post sales of $10.97 billion for the current fiscal quarter, according to Zacks Investment Research. Eight analysts have issued estimates for American Express’ earnings, with the lowest sales estimate coming in at $10.83 billion and the highest estimate coming in at $11.11 billion. American Express reported sales of $10.14 billion in the same quarter last year, which indicates a positive year over year growth rate of 8.2%. The business is scheduled to report its next earnings report on Friday, July 19th.
According to Zacks, analysts expect that American Express will report full-year sales of $43.58 billion for the current financial year, with estimates ranging from $43.36 billion to $43.90 billion. For the next fiscal year, analysts anticipate that the firm will report sales of $47.04 billion, with estimates ranging from $46.07 billion to $48.05 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that cover American Express.
American Express (NYSE:AXP) last issued its earnings results on Friday, July 19th. The payment services company reported $2.07 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.05 by $0.02. American Express had a net margin of 16.60% and a return on equity of 29.78%. The business had revenue of $10.84 billion for the quarter, compared to analyst estimates of $10.82 billion. During the same period in the prior year, the firm earned $1.84 earnings per share. American Express’s revenue was up 8.4% on a year-over-year basis.
AXP has been the subject of several recent research reports. William Blair reiterated an “outperform” rating on shares of American Express in a research note on Tuesday, June 18th. ValuEngine downgraded shares of Wolverine World Wide from a “hold” rating to a “sell” rating in a research report on Monday, May 20th. JPMorgan Chase & Co. reduced their price objective on shares of Schlumberger from $42.00 to $41.00 and set a “neutral” rating on the stock in a research report on Monday. Wells Fargo & Co boosted their price objective on shares of Apollo Global Management from $38.00 to $42.00 and gave the company an “outperform” rating in a research report on Wednesday, July 10th. Finally, Deutsche Bank reissued a “buy” rating and set a $80.00 price objective on shares of Bayerische Motoren Werke in a research report on Monday, July 8th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have issued a buy rating to the stock. American Express presently has an average rating of “Hold” and a consensus target price of $124.38.
NYSE AXP traded up $1.09 during trading hours on Friday, reaching $125.91. 4,163,707 shares of the company were exchanged, compared to its average volume of 2,995,799. American Express has a 1 year low of $89.05 and a 1 year high of $129.34. The firm has a 50 day simple moving average of $123.42. The company has a quick ratio of 1.88, a current ratio of 2.18 and a debt-to-equity ratio of 2.52. The company has a market cap of $104.23 billion, a PE ratio of 17.18, a P/E/G ratio of 1.44 and a beta of 1.07.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 9th. Shareholders of record on Friday, July 5th will be issued a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 1.24%. The ex-dividend date is Wednesday, July 3rd. American Express’s dividend payout ratio (DPR) is currently 21.28%.
In other news, Chairman Stephen J. Squeri sold 15,000 shares of the stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $114.69, for a total transaction of $1,720,350.00. Following the completion of the transaction, the chairman now directly owns 214,815 shares in the company, valued at approximately $24,637,132.35. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Jeffrey C. Campbell sold 6,500 shares of the stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $122.93, for a total value of $799,045.00. Following the transaction, the chief financial officer now owns 68,379 shares of the company’s stock, valued at $8,405,830.47. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 183,797 shares of company stock valued at $21,861,060. Insiders own 0.21% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Comerica Securities Inc. lifted its position in American Express by 5.3% in the fourth quarter. Comerica Securities Inc. now owns 5,582 shares of the payment services company’s stock worth $532,000 after buying an additional 279 shares during the last quarter. Geode Capital Management LLC lifted its position in American Express by 5.7% in the fourth quarter. Geode Capital Management LLC now owns 8,486,121 shares of the payment services company’s stock worth $807,358,000 after buying an additional 459,983 shares during the last quarter. 1832 Asset Management L.P. lifted its position in American Express by 149.8% in the fourth quarter. 1832 Asset Management L.P. now owns 767 shares of the payment services company’s stock worth $73,000 after buying an additional 460 shares during the last quarter. MML Investors Services LLC lifted its position in American Express by 8.9% in the fourth quarter. MML Investors Services LLC now owns 36,042 shares of the payment services company’s stock worth $3,436,000 after buying an additional 2,939 shares during the last quarter. Finally, Sontag Advisory LLC bought a new stake in American Express in the fourth quarter worth $75,000. Hedge funds and other institutional investors own 83.62% of the company’s stock.
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.
Read More: Bollinger Bands
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for American Express Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for American Express and related companies with MarketBeat.com's FREE daily email newsletter.