American Express Company (NYSE:AXP) – Analysts at Jefferies Group raised their Q4 2017 earnings per share estimates for American Express in a research report issued on Thursday. Jefferies Group analyst J. Hecht now expects that the payment services company will earn $1.55 per share for the quarter, up from their prior forecast of $1.33. Jefferies Group has a “Hold” rating and a $93.35 price objective on the stock. Jefferies Group also issued estimates for American Express’ Q1 2018 earnings at $1.57 EPS, Q2 2018 earnings at $1.71 EPS and Q4 2018 earnings at $1.63 EPS.

American Express (NYSE:AXP) last announced its earnings results on Wednesday, October 18th. The payment services company reported $1.50 EPS for the quarter, topping the consensus estimate of $1.47 by $0.03. The firm had revenue of $8.44 billion for the quarter, compared to the consensus estimate of $8.31 billion. American Express had a net margin of 14.48% and a return on equity of 22.75%. The business’s quarterly revenue was up 8.5% on a year-over-year basis. During the same period last year, the company posted $1.24 EPS. TRADEMARK VIOLATION NOTICE: “Research Analysts Offer Predictions for American Express Company’s Q4 2017 Earnings (AXP)” was first posted by American Banking News and is the sole property of of American Banking News. If you are viewing this report on another publication, it was stolen and reposted in violation of international trademark & copyright legislation. The correct version of this report can be viewed at https://www.americanbankingnews.com/2017/10/23/research-analysts-offer-predictions-for-american-express-companys-q4-2017-earnings-axp.html.

AXP has been the topic of a number of other reports. Barclays PLC set a $93.00 price target on American Express and gave the stock a “hold” rating in a report on Thursday. Bank of America Corporation increased their price target on American Express from $102.00 to $106.00 and gave the stock a “buy” rating in a report on Thursday. BidaskClub upgraded American Express from a “sell” rating to a “hold” rating in a report on Tuesday, August 8th. Buckingham Research began coverage on American Express in a report on Monday, October 2nd. They set a “neutral” rating and a $92.00 price target on the stock. Finally, Zacks Investment Research upgraded American Express from a “hold” rating to a “buy” rating and set a $96.00 price target on the stock in a report on Tuesday, August 29th. Three analysts have rated the stock with a sell rating, sixteen have given a hold rating and thirteen have issued a buy rating to the stock. American Express has a consensus rating of “Hold” and an average price target of $90.66.

Shares of American Express (AXP) opened at 92.09 on Monday. The firm’s 50-day moving average is $89.20 and its 200 day moving average is $83.54. The firm has a market capitalization of $81.41 billion, a P/E ratio of 18.89 and a beta of 1.21. American Express has a one year low of $65.03 and a one year high of $93.35.

Several institutional investors have recently made changes to their positions in AXP. BlackRock Inc. increased its position in shares of American Express by 2,686.0% during the 1st quarter. BlackRock Inc. now owns 44,177,867 shares of the payment services company’s stock valued at $3,494,913,000 after purchasing an additional 42,592,136 shares during the last quarter. Wellington Management Group LLP increased its holdings in American Express by 21.7% in the 1st quarter. Wellington Management Group LLP now owns 17,198,787 shares of the payment services company’s stock worth $1,360,596,000 after acquiring an additional 3,071,573 shares during the last quarter. Tesco Pension Investment Ltd purchased a new stake in American Express in the 1st quarter worth about $137,325,000. Veritas Asset Management LLP increased its holdings in American Express by 15.2% in the 2nd quarter. Veritas Asset Management LLP now owns 10,303,201 shares of the payment services company’s stock worth $867,942,000 after acquiring an additional 1,358,474 shares during the last quarter. Finally, Renaissance Technologies LLC purchased a new stake in American Express in the 2nd quarter worth about $101,526,000. 82.77% of the stock is owned by hedge funds and other institutional investors.

In other news, insider Anre D. Williams sold 53,111 shares of the firm’s stock in a transaction on Monday, July 31st. The stock was 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 directly owns 79,614 shares of the company’s stock, valued at approximately $6,786,297.36. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Vice Chairman Stephen J. Squeri sold 94,792 shares of the firm’s stock in a transaction on Tuesday, July 25th. The shares were sold at an average price of $85.41, for a total value of $8,096,184.72. Following the sale, the insider now directly owns 261,665 shares of the company’s stock, valued at $22,348,807.65. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 164,133 shares of company stock valued at $14,056,033. Insiders own 0.67% of the company’s stock.

American Express announced that its Board of Directors has authorized a stock repurchase program on Wednesday, June 28th that permits the company to repurchase $4.40 billion in shares. This repurchase authorization permits the payment services company to reacquire up to 5.9% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s board believes its stock is undervalued.

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 10th. Stockholders of record on Friday, October 6th will be given a dividend of $0.35 per share. The ex-dividend date of this dividend is Thursday, October 5th. This is a positive change 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 currently 26.97%.

About American Express

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).

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

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