DA Davidson Comments on American Express Co.’s Q4 2016 Earnings (AXP)
American Express Co. (NYSE:AXP) – Investment analysts at DA Davidson dropped their Q4 2016 earnings per share (EPS) estimates for American Express in a research note issued to investors on Thursday. DA Davidson analyst A. Cyganovich now forecasts that the firm will post earnings per share of $0.97 for the quarter, down from their prior estimate of $1.03. DA Davidson currently has a “Neutral” rating and a $66.00 price objective on the stock. DA Davidson also issued estimates for American Express’ Q1 2017 earnings at $1.26 EPS, Q2 2017 earnings at $1.40 EPS, Q1 2018 earnings at $1.40 EPS, Q2 2018 earnings at $1.57 EPS, Q3 2018 earnings at $1.61 EPS and FY2018 earnings at $6.27 EPS.
American Express (NYSE:AXP) last announced its earnings results on Wednesday, July 20th. The payment services company reported $2.10 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.95 by $0.15. American Express had a return on equity of 28.00% and a net margin of 16.73%. The business earned $8.20 billion during the quarter, compared to analyst estimates of $8.33 billion. During the same quarter in the previous year, the business earned $1.42 earnings per share. The company’s revenue for the quarter was down .6% compared to the same quarter last year.
Several other research analysts also recently weighed in on the stock. Evercore ISI restated a “hold” rating on shares of American Express in a research report on Saturday. Vetr downgraded shares of American Express from a “buy” rating to a “strong sell” rating and set a $53.00 price target for the company. in a research report on Thursday. Nomura downgraded shares of American Express from a “neutral” rating to a “reduce” rating and reduced their price target for the stock from $62.00 to $56.00 in a research report on Thursday, October 6th. Credit Suisse Group AG restated a “sell” rating and set a $62.00 price target on shares of American Express in a research report on Friday, September 16th. Finally, Keefe, Bruyette & Woods restated a “market perform” rating and set a $74.00 price target on shares of American Express in a research report on Monday, September 12th. Nine equities research analysts have rated the stock with a sell rating, nineteen have issued a hold rating and seven have issued a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $67.88.
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American Express (NYSE:AXP) opened at 60.15 on Monday. The stock has a market cap of $55.57 billion, a price-to-earnings ratio of 10.64 and a beta of 1.24. The firm’s 50 day moving average price is $63.87 and its 200 day moving average price is $63.60. American Express has a 12 month low of $50.27 and a 12 month high of $77.61.
The business also recently declared a quarterly dividend, which will be paid on Thursday, November 10th. Investors of record on Friday, October 7th will be paid a dividend of $0.32 per share. This is a positive change from American Express’s previous quarterly dividend of $0.29. This represents a $1.28 annualized dividend and a yield of 2.13%. The ex-dividend date is Wednesday, October 5th. American Express’s dividend payout ratio (DPR) is currently 22.54%.
Hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. increased its position in shares of American Express by 1.1% in the second quarter. Vanguard Group Inc. now owns 47,952,807 shares of the payment services company’s stock valued at $2,913,613,000 after buying an additional 504,284 shares during the last quarter. Dodge & Cox increased its position in shares of American Express by 7.2% in the second quarter. Dodge & Cox now owns 28,248,637 shares of the payment services company’s stock valued at $1,716,387,000 after buying an additional 1,888,379 shares during the last quarter. Wellington Management Group LLP increased its position in shares of American Express by 103.8% in the first quarter. Wellington Management Group LLP now owns 24,632,717 shares of the payment services company’s stock valued at $1,512,449,000 after buying an additional 12,544,274 shares during the last quarter. First Eagle Investment Management LLC increased its position in shares of American Express by 1.1% in the second quarter. First Eagle Investment Management LLC now owns 15,733,904 shares of the payment services company’s stock valued at $955,992,000 after buying an additional 173,281 shares during the last quarter. Finally, BlackRock Fund Advisors increased its position in shares of American Express by 0.7% in the second quarter. BlackRock Fund Advisors now owns 9,301,472 shares of the payment services company’s stock valued at $565,157,000 after buying an additional 61,459 shares during the last quarter. 82.03% of the stock is currently owned by institutional investors.
About American Express
American Express Company is a services company. The Company’s principal products and services are charge and credit payment card products, and travel-related services offered to consumers and businesses around the world. The Company’s segments include U.S. Consumer Services (USCS), International Consumer and Network Services (ICNS), Global Commercial Services (GCS) and Global Merchant Services (GMS).
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