American Express Company (NYSE:AXP) – Equities researchers at William Blair raised their FY2018 earnings per share estimates for American Express in a note issued to investors on Tuesday. William Blair analyst R. Napoli now anticipates that the payment services company will earn $7.25 per share for the year, up from their previous forecast of $6.55. William Blair also issued estimates for American Express’ FY2019 earnings at $8.00 EPS.
Several other analysts also recently issued reports on the company. Oppenheimer set a $117.00 price objective on American Express and gave the company a “buy” rating in a research report on Friday. Piper Jaffray Companies restated a “hold” rating and issued a $126.00 price objective on shares of American Express in a research report on Thursday. Sandler O’Neill restated a “buy” rating on shares of American Express in a research report on Wednesday. JPMorgan Chase & Co. downgraded American Express from an “overweight” rating to a “neutral” rating and set a $90.00 price objective on the stock. in a research report on Friday, January 12th. Finally, Barclays set a $119.00 price objective on American Express and gave the company an “equal weight” rating in a research report on Thursday, January 11th. Two equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and fourteen have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $100.80.
Shares of American Express (AXP) traded down $1.83 during trading hours on Friday, hitting $98.03. The stock had a trading volume of 12,282,245 shares, compared to its average volume of 3,174,725. The company has a debt-to-equity ratio of 2.31, a current ratio of 1.90 and a quick ratio of 1.90. American Express has a twelve month low of $75.39 and a twelve month high of $102.39. The stock has a market capitalization of $85,090.00, a P/E ratio of 18.92, a P/E/G ratio of 1.44 and a beta of 1.22.
American Express (NYSE:AXP) last posted its earnings results on Thursday, January 18th. The payment services company reported $1.58 EPS for the quarter, topping the Zacks’ consensus estimate of $1.54 by $0.04. The company had revenue of $8.84 billion for the quarter, compared to the consensus estimate of $8.73 billion. American Express had a return on equity of 22.73% and a net margin of 14.48%. American Express’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.91 earnings per share.
The company also recently declared a quarterly dividend, which will be paid on Friday, February 9th. Shareholders of record on Friday, January 5th will be paid a dividend of $0.35 per share. The ex-dividend date is Thursday, January 4th. This represents a $1.40 annualized dividend and a yield of 1.43%. American Express’s dividend payout ratio is presently 27.03%.
In other news, insider Susan Sobbott sold 5,500 shares of the stock in a transaction dated Thursday, November 9th. The stock was sold at an average price of $94.34, for a total value of $518,870.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Anre D. Williams sold 30,761 shares of the stock in a transaction dated Wednesday, October 25th. The shares were sold at an average price of $93.41, for a total value of $2,873,385.01. Following the completion of the sale, the insider now owns 28,720 shares of the company’s stock, valued at approximately $2,682,735.20. The disclosure for this sale can be found here. Insiders have sold 442,869 shares of company stock valued at $42,823,869 over the last 90 days. 0.67% of the stock is currently owned by insiders.
Several hedge funds have recently bought and sold shares of AXP. Farmers & Merchants Trust Co of Chambersburg PA boosted its holdings in American Express by 30.4% in the second quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 1,288 shares of the payment services company’s stock valued at $109,000 after purchasing an additional 300 shares during the last quarter. Capital Analysts LLC purchased a new position in American Express in the second quarter valued at about $115,000. Zions Bancorporation boosted its holdings in American Express by 912.9% in the third quarter. Zions Bancorporation now owns 1,337 shares of the payment services company’s stock valued at $121,000 after purchasing an additional 1,205 shares during the last quarter. MV Capital Management Inc. boosted its holdings in American Express by 3.5% in the second quarter. MV Capital Management Inc. now owns 1,448 shares of the payment services company’s stock valued at $122,000 after purchasing an additional 49 shares during the last quarter. Finally, Westside Investment Management Inc. boosted its holdings in American Express by 0.5% in the second quarter. Westside Investment Management Inc. now owns 1,536 shares of the payment services company’s stock valued at $129,000 after purchasing an additional 8 shares during the last quarter. Institutional investors and hedge funds own 83.36% of the company’s stock.
COPYRIGHT VIOLATION WARNING: “FY2018 Earnings Estimate for American Express Company (AXP) Issued By William Blair” was first reported by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are viewing this news story on another publication, it was stolen and reposted in violation of U.S. & international copyright & trademark law. The correct version of this news story can be accessed at https://www.dispatchtribunal.com/2018/01/19/fy2018-earnings-estimate-for-american-express-company-axp-issued-by-william-blair.html.
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).
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.