American Express Company (AXP) Expected to Post Quarterly Sales of $8.73 Billion

Wall Street brokerages expect American Express Company (NYSE:AXP) to announce $8.73 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Six analysts have issued estimates for American Express’ earnings, with estimates ranging from $8.64 billion to $8.91 billion. American Express posted sales of $8.02 billion during the same quarter last year, which suggests a positive year over year growth rate of 8.9%. The business is expected to announce its next quarterly earnings results on Thursday, January 18th.

On average, analysts expect that American Express will report full year sales of $8.73 billion for the current fiscal year, with estimates ranging from $33.22 billion to $33.54 billion. For the next year, analysts anticipate that the business will report sales of $35.57 billion per share, with estimates ranging from $35.21 billion to $35.88 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that follow American Express.

American Express (NYSE:AXP) last issued its quarterly earnings data on Wednesday, October 18th. The payment services company reported $1.50 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.47 by $0.03. American Express had a net margin of 14.48% and a return on equity of 22.73%. The firm had revenue of $8.44 billion for the quarter, compared to analysts’ expectations of $8.31 billion. During the same period in the prior year, the firm earned $1.24 earnings per share. The company’s quarterly revenue was up 8.5% compared to the same quarter last year.

Several brokerages have recently commented on AXP. Zacks Investment Research upgraded shares of American Express from a “hold” rating to a “buy” rating and set a $107.00 target price for the company in a research report on Wednesday, November 1st. Atlantic Securities upgraded shares of American Express from an “underweight” rating to a “neutral” rating and set a $100.00 price target on the stock in a research report on Tuesday, October 24th. Jefferies Group boosted their price target on shares of American Express from $64.75 to $93.35 and gave the stock a “hold” rating in a research report on Friday, October 20th. Royal Bank Of Canada boosted their price target on shares of American Express to $68.00 and gave the stock an “underperform” rating in a research report on Thursday, October 19th. Finally, Piper Jaffray Companies restated a “hold” rating and issued a $98.00 price target on shares of American Express in a research report on Thursday, October 19th. Three analysts have rated the stock with a sell rating, sixteen have given a hold rating and thirteen have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $91.56.

Shares of American Express (NYSE:AXP) traded up $1.11 during trading hours on Friday, hitting $97.71. 5,328,300 shares of the stock traded hands, compared to its average volume of 3,598,306. The firm has a market cap of $82,702.68, a PE ratio of 18.25, a PEG ratio of 1.59 and a beta of 1.22. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 2.31. American Express has a one year low of $71.38 and a one year high of $98.49.

The business also recently declared a quarterly dividend, which will be paid on Friday, February 9th. Stockholders of record on Friday, January 5th will be given a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 1.43%. The ex-dividend date is Thursday, January 4th. American Express’s dividend payout ratio is presently 26.97%.

In other news, insider Susan Sobbott sold 6,000 shares of the company’s stock in a transaction that occurred on Thursday, September 7th. The stock was sold at an average price of $84.39, for a total transaction of $506,340.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Anre D. Williams sold 30,761 shares of the company’s stock in a transaction that occurred on Wednesday, October 25th. The stock was sold at an average price of $93.41, for a total value of $2,873,385.01. Following the sale, the insider now directly owns 28,720 shares in the company, valued at $2,682,735.20. The disclosure for this sale can be found here. In the last three months, insiders sold 203,651 shares of company stock valued at $19,162,465. 0.67% of the stock is owned by insiders.

Several large investors have recently made changes to their positions in AXP. Algebris Investments UK LLP purchased a new stake in American Express in the first quarter valued at $1,820,000. ARGI Investment Services LLC grew its stake in American Express by 11.2% during the 1st quarter. ARGI Investment Services LLC now owns 4,456 shares of the payment services company’s stock worth $353,000 after purchasing an additional 449 shares in the last quarter. Choate Investment Advisors grew its stake in American Express by 0.5% during the 1st quarter. Choate Investment Advisors now owns 43,290 shares of the payment services company’s stock worth $3,425,000 after purchasing an additional 200 shares in the last quarter. Alliancebernstein L.P. grew its stake in American Express by 1.6% during the 1st quarter. Alliancebernstein L.P. now owns 2,287,406 shares of the payment services company’s stock worth $180,957,000 after purchasing an additional 35,960 shares in the last quarter. Finally, Kiltearn Partners LLP grew its stake in American Express by 2.9% during the 1st quarter. Kiltearn Partners LLP now owns 2,498,000 shares of the payment services company’s stock worth $197,617,000 after purchasing an additional 69,600 shares in the last quarter. Hedge funds and other institutional investors own 83.35% of the company’s stock.

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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).

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

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