American Express (AXP) Expected to Post Quarterly Sales of $9.64 Billion

Wall Street brokerages expect American Express (NYSE:AXP) to announce $9.64 billion in sales for the current quarter, according to Zacks. Seven analysts have issued estimates for American Express’ earnings. The lowest sales estimate is $8.94 billion and the highest is $10.03 billion. American Express posted sales of $8.31 billion in the same quarter last year, which suggests a positive year-over-year growth rate of 16%. The company is expected to announce its next quarterly earnings report on Wednesday, July 18th.

According to Zacks, analysts expect that American Express will report full-year sales of $38.53 billion for the current fiscal year, with estimates ranging from $35.99 billion to $40.07 billion. For the next fiscal year, analysts forecast that the company will post sales of $41.36 billion per share, with estimates ranging from $37.79 billion to $42.83 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that cover American Express.

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American Express (NYSE:AXP) last announced its quarterly earnings results on Wednesday, April 18th. The payment services company reported $1.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.71 by $0.15. The company had revenue of $9.72 billion for the quarter, compared to analyst estimates of $9.49 billion. American Express had a net margin of 8.08% and a return on equity of 26.00%. The firm’s revenue was up 11.6% on a year-over-year basis. During the same period in the previous year, the firm posted $1.34 EPS.

Several equities research analysts recently issued reports on AXP shares. Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $116.00 price target on shares of American Express in a report on Friday, December 22nd. Deutsche Bank began coverage on shares of American Express in a report on Tuesday, January 2nd. They set a “buy” rating and a $118.00 price target on the stock. Zacks Investment Research raised shares of American Express from a “hold” rating to a “buy” rating and set a $111.00 target price on the stock in a report on Wednesday, January 3rd. Instinet began coverage on shares of American Express in a report on Wednesday, January 3rd. They set a “buy” rating and a $110.00 target price on the stock. Finally, Stephens set a $97.00 target price on shares of American Express and gave the stock a “hold” rating in a report on Tuesday, January 2nd. One research analyst has rated the stock with a sell rating, seventeen have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $106.24.

In other news, insider James Peter Bush sold 13,356 shares of the business’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $98.65, for a total value of $1,317,569.40. Following the transaction, the insider now owns 100,790 shares in the company, valued at approximately $9,942,933.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.20% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently modified their holdings of AXP. Parkwood LLC lifted its position in shares of American Express by 23.9% during the 3rd quarter. Parkwood LLC now owns 3,557 shares of the payment services company’s stock valued at $322,000 after acquiring an additional 687 shares during the period. Cambridge Trust Co. lifted its position in shares of American Express by 5.0% during the 3rd quarter. Cambridge Trust Co. now owns 21,387 shares of the payment services company’s stock valued at $1,935,000 after acquiring an additional 1,017 shares during the period. Boston Partners lifted its position in shares of American Express by 4.1% during the 3rd quarter. Boston Partners now owns 858,276 shares of the payment services company’s stock valued at $77,640,000 after acquiring an additional 33,812 shares during the period. Jacobi Capital Management LLC lifted its position in shares of American Express by 5.3% during the 3rd quarter. Jacobi Capital Management LLC now owns 17,515 shares of the payment services company’s stock valued at $1,606,000 after acquiring an additional 879 shares during the period. Finally, Fiduciary Trust Co. lifted its position in shares of American Express by 9.8% during the 3rd quarter. Fiduciary Trust Co. now owns 109,362 shares of the payment services company’s stock valued at $9,893,000 after acquiring an additional 9,721 shares during the period. Hedge funds and other institutional investors own 84.11% of the company’s stock.

Shares of American Express stock traded up $6.82 during midday trading on Monday, hitting $101.97. 6,101,139 shares of the company traded hands, compared to its average volume of 3,945,965. The firm has a market capitalization of $80,745.77, a PE ratio of 17.37, a price-to-earnings-growth ratio of 1.28 and a beta of 1.14. The company has a current ratio of 1.93, a quick ratio of 1.93 and a debt-to-equity ratio of 3.06. American Express has a 12 month low of $75.97 and a 12 month high of $102.88.

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 10th. Stockholders of record on Friday, April 6th will be given a $0.35 dividend. The ex-dividend date of this dividend is Thursday, April 5th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.37%. American Express’s dividend payout ratio (DPR) is currently 23.85%.

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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 four segments: U.S. Consumer Services, International Consumer and Network Services, Global Commercial Services, and Global Merchant Services.

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

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