American Express Company (NYSE:AXP) – Investment analysts at KeyCorp increased their Q4 2018 earnings estimates for shares of American Express in a note issued to investors on Thursday. KeyCorp analyst J. Beck now forecasts that the payment services company will post earnings per share of $1.80 for the quarter, up from their previous estimate of $1.70. KeyCorp also issued estimates for American Express’ Q3 2019 earnings at $2.08 EPS, Q4 2019 earnings at $2.10 EPS and FY2019 earnings at $8.32 EPS.
Other equities analysts have also issued reports about the stock. Barclays boosted their target price on shares of American Express from $112.00 to $119.00 in a report on Friday. Bank of America reiterated a “buy” rating and issued a $102.00 target price on shares of American Express in a report on Monday, October 9th. Oppenheimer set a $99.00 target price on shares of American Express and gave the company a “buy” rating in a report on Thursday, October 19th. Zacks Investment Research upgraded shares of American Express from a “hold” rating to a “buy” rating and set a $107.00 target price on the stock in a report on Wednesday, November 1st. Finally, Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $116.00 target price on shares of American Express in a report on Friday, December 22nd. Two research analysts have rated the stock with a sell rating, seventeen have given a hold rating and twelve have assigned a buy rating to the stock. American Express currently has a consensus rating of “Hold” and an average price target of $101.08.
American Express (NYSE:AXP) last announced its quarterly earnings data on Thursday, January 18th. The payment services company reported $1.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.54 by $0.04. American Express had a net margin of 8.08% and a return on equity of 26.07%. The company had revenue of $8.84 billion during the quarter, compared to analysts’ expectations of $8.73 billion. During the same quarter in the prior year, the company earned $0.91 EPS. American Express’s revenue was up 10.2% compared to the same quarter last year.
A number of large investors have recently bought and sold shares of the business. Westside Investment Management Inc. increased its holdings in American Express by 0.5% during the 2nd quarter. Westside Investment Management Inc. now owns 1,536 shares of the payment services company’s stock valued at $129,000 after acquiring an additional 8 shares in the last quarter. Dearborn Partners LLC grew its holdings in shares of American Express by 0.6% during the second quarter. Dearborn Partners LLC now owns 2,861 shares of the payment services company’s stock worth $241,000 after buying an additional 18 shares in the last quarter. Advisory Services Network LLC grew its holdings in shares of American Express by 0.4% during the second quarter. Advisory Services Network LLC now owns 5,635 shares of the payment services company’s stock worth $475,000 after buying an additional 25 shares in the last quarter. Sigma Investment Counselors Inc. grew its holdings in shares of American Express by 1.2% during the second quarter. Sigma Investment Counselors Inc. now owns 3,490 shares of the payment services company’s stock worth $294,000 after buying an additional 40 shares in the last quarter. Finally, Salem Investment Counselors Inc. grew its holdings in shares of American Express by 1.5% during the second quarter. Salem Investment Counselors Inc. now owns 2,866 shares of the payment services company’s stock worth $241,000 after buying an additional 41 shares in the last quarter. Hedge funds and other institutional investors own 83.45% of the company’s stock.
In other American Express news, CEO Kenneth I. Chenault sold 96,440 shares of the firm’s stock in a transaction dated Thursday, December 14th. The shares were sold at an average price of $97.30, for a total transaction of $9,383,612.00. Following the completion of the transaction, the chief executive officer now directly owns 1,178,333 shares in the company, valued at approximately $114,651,800.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider James Peter Bush sold 12,789 shares of the firm’s stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $99.45, for a total transaction of $1,271,866.05. Following the transaction, the insider now owns 92,504 shares of the company’s stock, valued at $9,199,522.80. The disclosure for this sale can be found here. Insiders have sold a total of 442,869 shares of company stock valued at $42,823,869 over the last 90 days. 0.67% of the stock is currently owned by insiders.
The firm also recently announced a quarterly dividend, which will be paid on Friday, February 9th. Shareholders of record on Friday, January 5th will be issued a dividend of $0.35 per share. The ex-dividend date of this dividend is Thursday, January 4th. This represents a $1.40 annualized dividend and a yield of 1.43%. American Express’s dividend payout ratio (DPR) is currently 46.82%.
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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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