American Express (NYSE:AXP) – Equities researchers at Jefferies Group increased their Q4 2018 earnings per share (EPS) estimates for American Express in a research report issued on Wednesday, May 16th. Jefferies Group analyst J. Hecht now expects that the payment services company will post earnings per share of $1.85 for the quarter, up from their prior forecast of $1.84. Jefferies Group also issued estimates for American Express’ Q3 2019 earnings at $1.99 EPS.
American Express (NYSE:AXP) last released its quarterly earnings results on Wednesday, April 18th. The payment services company reported $1.86 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.71 by $0.15. American Express had a return on equity of 28.41% and a net margin of 8.79%. The business had revenue of $9.72 billion for the quarter, compared to the consensus estimate of $9.49 billion. During the same quarter last year, the business posted $1.34 earnings per share. The company’s revenue for the quarter was up 11.6% on a year-over-year basis.
Several other research analysts also recently commented on the company. Barclays lifted their price objective on American Express from $112.00 to $119.00 in a report on Friday, January 19th. Oppenheimer set a $117.00 price objective on American Express and gave the stock a “buy” rating in a report on Friday, January 19th. UBS initiated coverage on American Express in a report on Tuesday, March 27th. They issued a “buy” rating and a $111.00 price objective on the stock. Morgan Stanley lifted their price objective on American Express from $108.00 to $109.00 and gave the stock an “equal weight” rating in a report on Friday, February 2nd. Finally, Zacks Investment Research downgraded American Express from a “buy” rating to a “hold” rating in a report on Tuesday, March 6th. One research analyst has rated the stock with a sell rating, sixteen have given a hold rating and twelve have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $107.45.
American Express opened at $100.99 on Thursday, according to Marketbeat. The stock has a market cap of $86.54 billion, a price-to-earnings ratio of 17.20, a PEG ratio of 1.36 and a beta of 1.13. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 2.67. American Express has a twelve month low of $75.98 and a twelve month high of $102.96.
A number of institutional investors have recently bought and sold shares of AXP. Boston Partners boosted its position in American Express by 447.8% during the 1st quarter. Boston Partners now owns 4,807,964 shares of the payment services company’s stock valued at $448,487,000 after acquiring an additional 3,930,338 shares in the last quarter. UBS Asset Management Americas Inc. boosted its position in American Express by 59.0% during the 4th quarter. UBS Asset Management Americas Inc. now owns 5,305,396 shares of the payment services company’s stock valued at $526,879,000 after acquiring an additional 1,968,718 shares in the last quarter. Millennium Management LLC boosted its position in American Express by 847.9% during the 4th quarter. Millennium Management LLC now owns 1,480,273 shares of the payment services company’s stock valued at $147,006,000 after acquiring an additional 1,324,105 shares in the last quarter. Swedbank bought a new stake in American Express during the 4th quarter valued at approximately $98,751,000. Finally, Veritas Asset Management LLP boosted its position in American Express by 9.0% during the 1st quarter. Veritas Asset Management LLP now owns 11,996,953 shares of the payment services company’s stock valued at $1,119,076,000 after acquiring an additional 992,800 shares in the last quarter. 85.03% of the stock is currently owned by institutional investors and hedge funds.
In related news, insider L Kevin Cox sold 33,777 shares of the business’s stock in a transaction dated Thursday, April 19th. The stock was sold at an average price of $100.54, for a total transaction of $3,395,939.58. Following the transaction, the insider now owns 19,249 shares in the company, valued at approximately $1,935,294.46. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Vice Chairman Stephen J. Squeri sold 12,500 shares of American Express stock in a transaction that occurred on Tuesday, May 1st. The shares were sold at an average price of $98.05, for a total value of $1,225,625.00. Following the sale, the insider now directly owns 203,920 shares in the company, valued at $19,994,356. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 58,252 shares of company stock worth $5,800,027. 0.20% of the stock is owned by company insiders.
The firm also recently declared a quarterly dividend, which will be paid on Friday, August 10th. Investors of record on Friday, July 6th will be issued a dividend of $0.35 per share. The ex-dividend date is Thursday, July 5th. This represents a $1.40 dividend on an annualized basis and a yield of 1.39%. American Express’s dividend payout ratio is presently 23.85%.
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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