American Express Company (NYSE:AXP) Updates FY17 Earnings Guidance

American Express Company (NYSE:AXP) issued an update on its FY17 earnings guidance on Wednesday morning. The company provided earnings per share guidance of $5.80-5.90 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $5.74.

American Express Company (NYSE AXP) traded up 0.10% on Friday, reaching $95.79. 3,212,221 shares of the company’s stock were exchanged. American Express Company has a 52-week low of $65.03 and a 52-week high of $96.01. The firm’s 50 day moving average price is $89.73 and its 200 day moving average price is $83.92. The company has a market cap of $84.68 billion, a PE ratio of 19.65 and a beta of 1.21.

American Express (NYSE:AXP) last released its quarterly earnings data on Wednesday, October 18th. The payment services company reported $1.50 EPS for the quarter, beating the consensus estimate of $1.47 by $0.03. The business had revenue of $8.44 billion for the quarter, compared to the consensus estimate of $8.31 billion. American Express had a net margin of 14.48% and a return on equity of 22.73%. The business’s revenue for the quarter was up 8.5% on a year-over-year basis. During the same period in the prior year, the firm earned $1.24 EPS. On average, analysts expect that American Express Company will post $5.85 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, November 10th. Investors of record on Friday, October 6th will be issued a dividend of $0.35 per share. The ex-dividend date is Thursday, October 5th. This is an increase from American Express’s previous quarterly dividend of $0.32. This represents a $1.40 dividend on an annualized basis and a yield of 1.46%. American Express’s dividend payout ratio is 26.97%.

AXP has been the topic of a number of recent analyst reports. Morgan Stanley lowered their price target on shares of American Express from $90.00 to $89.00 and set an equal weight rating on the stock in a report on Friday, September 8th. Zacks Investment Research downgraded shares of American Express from a buy rating to a hold rating in a report on Wednesday, August 30th. Credit Suisse Group reissued a sell rating on shares of American Express in a report on Wednesday, July 19th. BidaskClub downgraded shares of American Express from a buy rating to a hold rating in a report on Tuesday, July 25th. Finally, Guggenheim reissued a buy rating and set a $95.00 price target (up from $90.00) on shares of American Express in a report on Saturday, July 22nd. Three research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and thirteen have given a buy rating to the stock. The stock has an average rating of Hold and an average price target of $91.04.

In other American Express news, insider Anre D. Williams sold 53,111 shares of American Express stock in a transaction dated Monday, July 31st. The shares were sold at an average price of $85.24, for a total transaction of $4,527,181.64. Following the completion of the sale, the insider now directly owns 79,614 shares in the company, valued at $6,786,297.36. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Anre D. Williams sold 30,761 shares of American Express stock in a transaction dated Wednesday, October 25th. The shares were sold at an average price of $93.41, for a total transaction of $2,873,385.01. Following the sale, the insider now owns 28,720 shares of the company’s stock, valued at $2,682,735.20. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 100,102 shares of company stock valued at $8,833,233. Company insiders own 0.67% of the company’s stock.

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About American Express

American Express Company, together with its subsidiaries, is a global services company. The Company’s principal products and services are charge and credit card products, and travel-related services, which are offered to consumers and businesses around the world. Its segments include the U.S. Consumer Services (USCS), International Consumer and Network Services (ICNS), Global Commercial Services (GCS) and Global Merchant Services (GMS).

Earnings History and Estimates for American Express (NYSE:AXP)

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