American Express (NYSE:AXP) – Investment analysts at Oppenheimer cut their FY2019 earnings per share (EPS) estimates for American Express in a research note issued on Tuesday, April 16th. Oppenheimer analyst D. Gabriele now expects that the payment services company will earn $8.10 per share for the year, down from their previous forecast of $8.18. Oppenheimer currently has a “Buy” rating and a $119.00 target price on the stock. Oppenheimer also issued estimates for American Express’ FY2020 earnings at $8.90 EPS.
Several other equities analysts have also recently commented on AXP. Zacks Investment Research cut shares of American Express from a “hold” rating to a “sell” rating in a research report on Wednesday, January 16th. Wells Fargo & Co restated a “buy” rating and set a $125.00 price target (up previously from $115.00) on shares of American Express in a research note on Tuesday, March 12th. DZ Bank lowered shares of American Express from a “buy” rating to a “hold” rating in a research note on Thursday, March 21st. Bank of America restated a “neutral” rating and set a $108.00 price target on shares of American Express in a research note on Thursday, March 14th. Finally, Atlantic Securities upgraded shares of American Express from a “neutral” rating to an “overweight” rating and set a $100.80 price target for the company in a research note on Tuesday, January 29th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and eight have assigned a buy rating to the company’s stock. American Express currently has an average rating of “Hold” and a consensus price target of $112.11.
American Express (NYSE:AXP) last posted its earnings results on Thursday, January 17th. The payment services company reported $1.74 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.80 by ($0.06). American Express had a return on equity of 30.35% and a net margin of 17.08%. The firm had revenue of $10.47 billion for the quarter, compared to the consensus estimate of $10.54 billion. During the same period in the prior year, the business earned $1.58 EPS. American Express’s quarterly revenue was up 7.9% compared to the same quarter last year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 10th. Investors of record on Friday, April 5th will be paid a $0.39 dividend. The ex-dividend date of this dividend is Thursday, April 4th. This represents a $1.56 dividend on an annualized basis and a yield of 1.40%. American Express’s dividend payout ratio is 21.28%.
In related news, Chairman Stephen J. Squeri sold 12,500 shares of American Express stock in a transaction that occurred on Friday, February 1st. The shares were sold at an average price of $103.02, for a total value of $1,287,750.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Richard Petrino sold 2,444 shares of American Express stock in a transaction that occurred on Thursday, February 14th. The shares were sold at an average price of $107.11, for a total transaction of $261,776.84. Following the completion of the transaction, the executive vice president now owns 7,591 shares of the company’s stock, valued at $813,072.01. The disclosure for this sale can be found here. 0.21% of the stock is currently owned by insiders.
Institutional investors have recently added to or reduced their stakes in the stock. Pearl River Capital LLC purchased a new position in shares of American Express during the 4th quarter valued at $25,000. JNBA Financial Advisors purchased a new position in shares of American Express during the 4th quarter valued at $26,000. Clarfeld Financial Advisors LLC purchased a new position in shares of American Express during the 4th quarter valued at $31,000. Capital Investment Advisory Services LLC purchased a new position in shares of American Express during the 4th quarter valued at $37,000. Finally, Vigilant Capital Management LLC purchased a new position in shares of American Express during the 4th quarter valued at $38,000. Institutional investors and hedge funds own 84.86% of the company’s stock.
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 three segments: Global Consumer Services Group, Global Commercial Services, and Global Merchant and Network Services.
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