American Express (NYSE:AXP) – Analysts at Oppenheimer lowered their Q3 2018 earnings per share estimates for shares of American Express in a research report issued to clients and investors on Wednesday, April 18th. Oppenheimer analyst B. Chittenden now forecasts that the payment services company will post earnings per share of $1.84 for the quarter, down from their previous estimate of $1.85. Oppenheimer has a “Buy” rating and a $110.00 price target on the stock. Oppenheimer also issued estimates for American Express’ Q4 2018 earnings at $1.72 EPS.
Several other equities research analysts also recently issued reports on the stock. TheStreet upgraded shares of American Express from a “c+” rating to a “b+” rating in a research report on Wednesday, April 18th. Barclays raised their price objective on shares of American Express from $112.00 to $113.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 19th. Guggenheim restated a “hold” rating and set a $104.00 price objective on shares of American Express in a research report on Thursday, April 19th. Royal Bank of Canada raised their price objective on shares of American Express to $86.00 and gave the stock an “underperform” rating in a research report on Thursday, April 19th. Finally, Buckingham Research raised their price objective on shares of American Express from $110.00 to $111.00 and gave the stock a “neutral” rating in a research report on Thursday, April 19th. One investment analyst has rated the stock with a sell rating, sixteen have given a hold rating and thirteen have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $106.90.
American Express stock opened at $100.61 on Monday. American Express has a 52 week low of $75.97 and a 52 week high of $102.96. The company has a debt-to-equity ratio of 2.60, a current ratio of 2.57 and a quick ratio of 1.93. The stock has a market cap of $86,707.50, a P/E ratio of 17.14, a price-to-earnings-growth ratio of 1.36 and a beta of 1.14.
American Express (NYSE:AXP) last posted its quarterly earnings results on Wednesday, April 18th. The payment services company reported $1.86 EPS for the quarter, topping analysts’ consensus estimates of $1.71 by $0.15. American Express had a return on equity of 28.27% and a net margin of 8.79%. The business had revenue of $9.72 billion during the quarter, compared to analysts’ expectations of $9.49 billion. During the same quarter last year, the company posted $1.34 earnings per share. American Express’s quarterly revenue was up 11.6% on a year-over-year basis.
The firm 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 is Thursday, April 5th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.39%. American Express’s payout ratio is 23.85%.
In other American Express news, insider L Kevin Cox sold 33,777 shares of the business’s stock in a transaction that occurred on Thursday, April 19th. The shares were sold at an average price of $100.54, for a total transaction of $3,395,939.58. Following the completion of the transaction, the insider now directly owns 19,249 shares in the company, valued at $1,935,294.46. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, 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 transaction of $1,317,569.40. Following the transaction, the insider now owns 100,790 shares of the company’s stock, valued at $9,942,933.50. The disclosure for this sale can be found here. Over the last quarter, insiders sold 50,108 shares of company stock valued at $5,009,521. 0.20% of the stock is owned by company insiders.
Institutional investors and hedge funds have recently made changes to their positions in the business. Certified Advisory Corp acquired a new position in American Express during the fourth quarter valued at approximately $101,000. Trustcore Financial Services LLC acquired a new position in American Express during the fourth quarter valued at approximately $128,000. Zions Bancorporation raised its position in American Express by 912.9% during 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 in the last quarter. Delpha Capital Management LLC acquired a new position in American Express during the fourth quarter valued at approximately $138,000. Finally, Focused Wealth Management Inc acquired a new position in American Express during the fourth quarter valued at approximately $139,000. Institutional investors and hedge funds own 84.09% of the company’s stock.
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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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