American Express Company (AXP) to Release Quarterly Earnings on Wednesday
American Express Company (NYSE:AXP) is scheduled to announce its earnings results after the market closes on Wednesday, October 18th. Analysts expect the company to announce earnings of $1.47 per share for the quarter. American Express has set its FY17 guidance at $5.60-5.80 EPS.
American Express (NYSE:AXP) last announced its quarterly earnings data on Wednesday, July 19th. The payment services company reported $1.47 EPS for the quarter, beating the Zacks’ consensus estimate of $1.44 by $0.03. The firm had revenue of $8.31 billion during the quarter, compared to the consensus estimate of $8.20 billion. American Express had a net margin of 14.11% and a return on equity of 21.90%. The firm’s revenue was up .9% compared to the same quarter last year. During the same quarter last year, the firm earned $2.10 earnings per share. On average, analysts expect American Express to post $5.74 EPS for the current fiscal year and $6.36 EPS for the next fiscal year.
Shares of American Express Company (AXP) opened at 91.89 on Wednesday. The company has a 50-day moving average of $87.71 and a 200-day moving average of $82.84. The firm has a market cap of $81.23 billion, a P/E ratio of 18.85 and a beta of 1.21. American Express Company has a 12 month low of $59.50 and a 12 month high of $92.34.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 10th. Stockholders of record on Friday, October 6th will be issued a $0.35 dividend. The ex-dividend date of this dividend is Thursday, October 5th. This is a boost from American Express’s previous quarterly dividend of $0.32. This represents a $1.40 annualized dividend and a dividend yield of 1.52%. American Express’s dividend payout ratio (DPR) is 28.63%.
American Express declared that its board has initiated a stock repurchase plan on Wednesday, June 28th that authorizes the company to repurchase $4.40 billion in shares. This repurchase authorization authorizes the payment services company to repurchase up to 5.9% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.
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In related news, insider Paul D. Fabara sold 5,981 shares of the company’s stock in a transaction that occurred on Friday, July 21st. The shares were sold at an average price of $85.88, for a total value of $513,648.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Anre D. Williams sold 53,111 shares of the company’s stock in a transaction that occurred on Monday, July 31st. The shares were sold at an average price of $85.24, for a total transaction of $4,527,181.64. Following the completion of the sale, the insider now owns 79,614 shares of the company’s stock, valued at approximately $6,786,297.36. The disclosure for this sale can be found here. In the last 90 days, insiders sold 959,617 shares of company stock valued at $81,377,425. 0.67% of the stock is owned by insiders.
Several research firms have recently issued reports on AXP. Wells Fargo & Company began coverage on shares of American Express in a report on Tuesday. They issued an “outperform” rating for the company. Bank of America Corporation reiterated a “buy” rating and issued a $102.00 price objective on shares of American Express in a report on Monday. Credit Suisse Group reiterated a “sell” rating and issued a $79.00 price objective on shares of American Express in a report on Wednesday, October 4th. Buckingham Research began coverage on shares of American Express in a report on Monday, October 2nd. They issued a “neutral” rating and a $92.00 price objective for the company. Finally, Barclays PLC reiterated a “buy” rating and issued a $83.00 price objective on shares of American Express in a report on Thursday, July 20th. Three investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $86.65.
American Express Company Profile
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).
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