Zacks: Analysts Anticipate American Express (AXP) Will Announce Quarterly Sales of $8.71 Billion

Wall Street brokerages expect American Express (NYSE:AXP) to announce $8.71 billion in sales for the current quarter, according to Zacks. Seven analysts have issued estimates for American Express’ earnings. The lowest sales estimate is $8.47 billion and the highest is $9.53 billion. American Express posted sales of $7.89 billion in the same quarter last year, which suggests a positive year-over-year growth rate of 10.4%. The company is expected to announce its next quarterly earnings report after the market closes on Wednesday, April 18th.

According to Zacks, analysts expect that American Express will report full-year sales of $8.71 billion for the current fiscal year, with estimates ranging from $35.67 billion to $39.86 billion. For the next fiscal year, analysts forecast that the company will post sales of $39.33 billion per share, with estimates ranging from $37.07 billion to $42.78 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that cover American Express.

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American Express (NYSE:AXP) last announced its quarterly earnings data on Thursday, January 18th. The payment services company reported $1.58 EPS for the quarter, beating analysts’ consensus estimates of $1.54 by $0.04. American Express had a net margin of 8.08% and a return on equity of 26.00%. The company had revenue of $8.84 billion during the quarter, compared to the consensus estimate of $8.73 billion. During the same quarter last year, the firm posted $0.91 EPS. The company’s quarterly revenue was up 10.2% on a year-over-year basis.

A number of research analysts have recently commented on AXP shares. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $116.00 price objective on shares of American Express in a research report on Friday, December 22nd. Bank of America set a $128.00 target price on shares of American Express and gave the stock a “buy” rating in a research note on Monday, December 18th. Barclays raised their target price on shares of American Express from $112.00 to $119.00 in a research note on Friday, January 19th. JPMorgan Chase cut shares of American Express from an “overweight” rating to a “neutral” rating and set a $90.00 target price for the company. in a research note on Friday, January 12th. Finally, Wells Fargo restated an “outperform” rating and set a $115.00 target price (up previously from $105.00) on shares of American Express in a research note on Tuesday, January 9th. One research analyst has rated the stock with a sell rating, seventeen have given a hold rating and twelve have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $104.17.

In other American Express news, insider James Peter Bush sold 12,789 shares of American Express stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $99.45, for a total value of $1,271,866.05. Following the completion of the sale, the insider now owns 92,504 shares in the company, valued at approximately $9,199,522.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.20% of the stock is owned by insiders.

A number of hedge funds have recently added to or reduced their stakes in AXP. Certified Advisory Corp bought a new position in American Express in the 4th quarter valued at about $101,000. Zions Bancorporation increased its holdings in American Express by 912.9% in the 3rd 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 during the period. Trustcore Financial Services LLC bought a new position in American Express in the 4th quarter valued at about $128,000. WFG Advisors LP increased its holdings in American Express by 38.8% in the 2nd quarter. WFG Advisors LP now owns 1,568 shares of the payment services company’s stock valued at $132,000 after buying an additional 438 shares during the period. Finally, Delpha Capital Management LLC bought a new position in American Express in the 4th quarter valued at about $138,000. 84.11% of the stock is currently owned by hedge funds and other institutional investors.

Shares of AXP traded down $0.57 during midday trading on Friday, reaching $92.71. The stock had a trading volume of 210,830 shares, compared to its average volume of 4,011,914. American Express has a one year low of $75.51 and a one year high of $102.39. The company has a market cap of $80,246.80, a PE ratio of 15.89, a price-to-earnings-growth ratio of 1.27 and a beta of 1.14. The company has a debt-to-equity ratio of 3.06, a current ratio of 1.93 and a quick ratio of 1.93.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 10th. Shareholders of record on Friday, April 6th will be paid a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 1.51%. The ex-dividend date of this dividend is Thursday, April 5th. American Express’s dividend payout ratio (DPR) is 23.85%.

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American Express Company Profile

American Express Company, together with its subsidiaries, provides charge and credit payment card products and travel-related services to consumers and businesses worldwide. It operates through four segments: U.S. Consumer Services, International Consumer and Network Services, Global Commercial Services, and Global Merchant Services.

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

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