American Express (AXP) Issues FY18 Earnings Guidance
American Express (NYSE:AXP) updated its FY18 earnings guidance on Thursday. The company provided EPS guidance of $6.90-7.30 for the period, compared to the Thomson Reuters consensus EPS estimate of $7.29.
A number of brokerages recently weighed in on AXP. Barclays set a $93.00 price objective on American Express and gave the company a hold rating in a report on Thursday, October 19th. Bank of America boosted their target price on American Express from $102.00 to $106.00 and gave the stock a buy rating in a report on Thursday, October 19th. Jefferies Group reaffirmed an in-line rating and set a $93.00 price target (up from $85.00) on shares of American Express in a report on Thursday, October 19th. Buckingham Research assumed coverage on American Express in a research report on Monday, October 2nd. They set a neutral rating and a $92.00 price objective for the company. Finally, Zacks Investment Research upgraded American Express from a hold rating to a buy rating and set a $111.00 price target for the company in a research report on Wednesday, January 3rd. Two investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and fourteen have assigned a buy rating to the company’s stock. American Express currently has an average rating of Hold and a consensus target price of $98.96.
Shares of American Express (NYSE:AXP) traded up $0.42 during trading hours on Thursday, hitting $100.76. 4,469,600 shares of the company were exchanged, compared to its average volume of 2,982,700. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 2.31. American Express has a twelve month low of $75.39 and a twelve month high of $102.39. The company has a market cap of $86,680.00, a P/E ratio of 19.45, a PEG ratio of 1.43 and a beta of 1.22.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 9th. Shareholders of record on Friday, January 5th will be paid a $0.35 dividend. The ex-dividend date is Thursday, January 4th. This represents a $1.40 annualized dividend and a yield of 1.39%. American Express’s dividend payout ratio is presently 27.03%.
In other news, insider Anre D. Williams sold 30,761 shares of the firm’s stock in a transaction dated Wednesday, October 25th. The shares were sold at an average price of $93.41, for a total value of $2,873,385.01. Following the transaction, the insider now owns 28,720 shares of the company’s stock, valued at approximately $2,682,735.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider James Peter Bush sold 12,789 shares of American Express stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $99.45, for a total transaction of $1,271,866.05. Following the transaction, the insider now directly owns 92,504 shares in the company, valued at approximately $9,199,522.80. The disclosure for this sale can be found here. Insiders sold 442,869 shares of company stock valued at $42,823,869 over the last three months. Insiders own 0.67% of the company’s stock.
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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