American Express Company (AXP) Expected to Post Quarterly Sales of $8.51 Billion

Equities research analysts expect American Express Company (NYSE:AXP) to post $8.51 billion in sales for the current quarter, Zacks reports. Five analysts have issued estimates for American Express’ earnings, with the lowest sales estimate coming in at $8.31 billion and the highest estimate coming in at $8.60 billion. American Express reported sales of $7.89 billion in the same quarter last year, which would suggest a positive year-over-year growth rate of 7.9%. The business is expected to announce its next earnings report on Wednesday, April 18th.

On average, analysts expect that American Express will report full-year sales of $8.51 billion for the current fiscal year, with estimates ranging from $35.21 billion to $35.96 billion. For the next year, analysts anticipate that the business will post sales of $37.55 billion per share, with estimates ranging from $36.79 billion to $38.10 billion. Zacks’ sales averages are an average based on a survey of sell-side analysts that that provide coverage for American Express.

American Express (NYSE:AXP) last issued its earnings results on Thursday, January 18th. The payment services company reported $1.58 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.54 by $0.04. American Express had a net margin of 8.08% and a return on equity of 25.12%. The company had revenue of $8.84 billion for the quarter, compared to analysts’ expectations of $8.73 billion. During the same period in the prior year, the business earned $0.91 EPS. The firm’s quarterly revenue was up 10.2% on a year-over-year basis.

Several brokerages have issued reports on AXP. Zacks Investment Research cut shares of American Express from a “buy” rating to a “hold” rating in a report on Wednesday, January 10th. JPMorgan Chase & Co. cut shares of American Express from an “overweight” rating to a “neutral” rating and set a $90.00 target price on the stock. in a report on Friday, January 12th. Sandler O’Neill reissued a “buy” rating on shares of American Express in a research report on Wednesday. Barclays set a $119.00 price target on shares of American Express and gave the company an “equal weight” rating in a research report on Thursday, January 11th. Finally, BMO Capital Markets reissued a “hold” rating and set a $103.00 price target on shares of American Express in a research report on Monday, January 8th. Two research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and thirteen have given a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $100.80.

In related news, CEO Kenneth I. Chenault sold 96,440 shares of the stock in a transaction that occurred on Thursday, December 14th. The shares were 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 directly owns 1,178,333 shares of the company’s stock, valued at approximately $114,651,800.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Anre D. Williams sold 30,761 shares of the stock in a transaction that occurred on Wednesday, October 25th. The shares were sold at an average price of $93.41, for a total transaction of $2,873,385.01. Following the completion of the transaction, the insider now directly owns 28,720 shares of the company’s stock, valued at $2,682,735.20. The disclosure for this sale can be found here. Insiders sold a total of 442,869 shares of company stock valued at $42,823,869 over the last ninety days. 0.67% of the stock is currently owned by insiders.

Several institutional investors have recently made changes to their positions in AXP. Advisors Asset Management Inc. increased its holdings in American Express by 4.9% in the 3rd quarter. Advisors Asset Management Inc. now owns 143,134 shares of the payment services company’s stock worth $12,948,000 after buying an additional 6,709 shares during the period. Bronfman E.L. Rothschild L.P. increased its holdings in American Express by 10.8% in the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 5,669 shares of the payment services company’s stock worth $478,000 after buying an additional 554 shares during the period. Westpac Banking Corp increased its holdings in American Express by 2.2% in the 3rd quarter. Westpac Banking Corp now owns 243,683 shares of the payment services company’s stock worth $22,044,000 after buying an additional 5,252 shares during the period. Crossmark Global Holdings Inc. acquired a new position in American Express in the 3rd quarter worth approximately $5,505,000. Finally, Shelton Capital Management acquired a new position in American Express in the 2nd quarter worth approximately $670,000. 83.36% of the stock is owned by hedge funds and other institutional investors.

American Express (NYSE:AXP) opened at $98.03 on Friday. 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 1-year low of $75.39 and a 1-year high of $102.39. The stock has a market cap of $85,090.00, a PE ratio of 32.79, a price-to-earnings-growth ratio of 1.40 and a beta of 1.22.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 9th. Investors 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 payout ratio is currently 46.82%.

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

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