American Express Company (NYSE:AXP) – Oppenheimer issued their Q1 2018 earnings per share estimates for American Express in a report released on Tuesday. Oppenheimer analyst B. Chittenden anticipates that the payment services company will post earnings per share of $1.73 for the quarter. Oppenheimer currently has a “Buy” rating and a $99.00 target price on the stock.
Several other analysts also recently issued reports on AXP. Stephens set a $97.00 price target on American Express and gave the stock a “hold” rating in a report on Tuesday. Instinet assumed coverage on American Express in a research note on Wednesday. They set a “buy” rating and a $110.00 target price on the stock. Buckingham Research assumed coverage on American Express in a research note on Monday, October 2nd. They set a “neutral” rating and a $92.00 target price on the stock. Zacks Investment Research raised American Express from a “hold” rating to a “buy” rating and set a $111.00 target price on the stock in a research note on Wednesday. Finally, Deutsche Bank assumed coverage on American Express in a research note on Tuesday. They set a “buy” rating and a $118.00 target price on the stock. Two analysts have rated the stock with a sell rating, sixteen have given a hold rating and fourteen have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $96.68.
American Express (NYSE:AXP) last announced its quarterly earnings results on Wednesday, October 18th. The payment services company reported $1.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.47 by $0.03. The business had revenue of $8.44 billion for the quarter, compared to the consensus estimate of $8.31 billion. American Express had a return on equity of 22.73% and a net margin of 14.48%. The business’s revenue was up 8.5% on a year-over-year basis. During the same quarter last year, the business posted $1.24 EPS.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Farmers & Merchants Trust Co of Chambersburg PA grew its holdings in shares of American Express by 30.4% during the second quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 1,288 shares of the payment services company’s stock valued at $109,000 after buying an additional 300 shares in the last quarter. Zions Bancorporation grew its holdings in shares of American Express by 912.9% during the third quarter. Zions Bancorporation now owns 1,337 shares of the payment services company’s stock valued at $121,000 after buying an additional 1,205 shares in the last quarter. Capital Analysts LLC purchased a new position in shares of American Express during the second quarter valued at $115,000. MV Capital Management Inc. grew its holdings in shares of American Express by 3.5% during the second quarter. MV Capital Management Inc. now owns 1,448 shares of the payment services company’s stock valued at $122,000 after buying an additional 49 shares in the last quarter. Finally, Westside Investment Management Inc. grew its holdings in shares of American Express by 0.5% during the second quarter. Westside Investment Management Inc. now owns 1,536 shares of the payment services company’s stock valued at $129,000 after buying an additional 8 shares in the last quarter. Institutional investors and hedge funds own 83.35% of the company’s stock.
In related news, EVP Michael John O’neill sold 43,741 shares of American Express stock in a transaction on Monday, December 11th. The stock was sold at an average price of $98.85, for a total value of $4,323,797.85. Following the transaction, the executive vice president now directly owns 43,731 shares in the company, valued at approximately $4,322,809.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Kenneth I. Chenault sold 96,440 shares of American Express stock in a transaction on Thursday, December 14th. The stock was sold at an average price of $97.30, for a total value of $9,383,612.00. Following the completion of the transaction, the chief executive officer now owns 1,178,333 shares in the company, valued at $114,651,800.90. The disclosure for this sale can be found here. Insiders sold a total of 430,080 shares of company stock worth $41,552,003 in the last three months. Company insiders own 0.67% of the company’s stock.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 9th. Stockholders of record on Friday, January 5th will be paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.41%. The ex-dividend date of this dividend is Thursday, January 4th. American Express’s dividend payout ratio is presently 27.03%.
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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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