Zacks: Brokerages Expect American Express (NYSE:AXP) Will Announce Quarterly Sales of $11.38 Billion

Brokerages predict that American Express (NYSE:AXP) will announce $11.38 billion in sales for the current fiscal quarter, Zacks reports. Eight analysts have made estimates for American Express’ earnings, with the lowest sales estimate coming in at $11.21 billion and the highest estimate coming in at $11.51 billion. American Express posted sales of $10.47 billion during the same quarter last year, which would indicate a positive year-over-year growth rate of 8.7%. The company is scheduled to report its next quarterly earnings results on Thursday, January 16th.

On average, analysts expect that American Express will report full-year sales of $43.60 billion for the current fiscal year, with estimates ranging from $43.40 billion to $43.76 billion. For the next financial year, analysts forecast that the company will post sales of $46.97 billion, with estimates ranging from $45.90 billion to $47.55 billion. Zacks’ sales averages are a mean average based on a survey of analysts that cover American Express.

American Express (NYSE:AXP) last released its quarterly earnings data on Friday, October 18th. The payment services company reported $2.08 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.07 by $0.01. The business had revenue of $10.99 billion for the quarter, compared to the consensus estimate of $10.94 billion. American Express had a net margin of 16.51% and a return on equity of 29.68%. The company’s revenue was up 8.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.88 earnings per share.

A number of brokerages have recently issued reports on AXP. JPMorgan Chase & Co. set a $122.00 price target on shares of American Express and gave the stock a “hold” rating in a report on Tuesday, October 8th. William Blair reissued a “buy” rating on shares of American Express in a report on Friday, October 18th. Morgan Stanley increased their price target on shares of American Express from $142.00 to $149.00 and gave the stock an “overweight” rating in a report on Tuesday, October 29th. Wells Fargo & Co reissued a “buy” rating on shares of American Express in a report on Friday. Finally, Cfra reissued a “hold” rating on shares of American Express in a report on Friday, October 18th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and eight have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $125.89.

In related news, Director Theodore Leonsis sold 8,420 shares of the firm’s stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $116.44, for a total value of $980,424.80. Following the sale, the director now directly owns 11,580 shares of the company’s stock, valued at $1,348,375.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Denise Pickett sold 2,400 shares of the firm’s stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $118.39, for a total transaction of $284,136.00. Following the completion of the sale, the insider now directly owns 9,788 shares in the company, valued at $1,158,801.32. The disclosure for this sale can be found here. Insiders sold 25,820 shares of company stock worth $3,033,961 over the last ninety days. 0.21% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in AXP. Garrett Wealth Advisory Group LLC bought a new position in American Express during the third quarter valued at approximately $27,000. Winthrop Partners WNY LLC bought a new position in American Express during the third quarter valued at approximately $30,000. FNY Investment Advisers LLC bought a new position in American Express during the third quarter valued at approximately $35,000. Enterprise Trust & Investment Co bought a new position in American Express during the third quarter valued at approximately $38,000. Finally, Northwest Investment Counselors LLC bought a new position in American Express during the third quarter valued at approximately $41,000. 83.91% of the stock is currently owned by institutional investors and hedge funds.

NYSE AXP traded up $2.33 during trading on Monday, hitting $120.61. 3,287,597 shares of the company’s stock traded hands, compared to its average volume of 3,296,479. The stock has a market capitalization of $98.69 billion, a price-to-earnings ratio of 16.45, a PEG ratio of 1.40 and a beta of 1.05. American Express has a 12-month low of $89.05 and a 12-month high of $129.34. The company has a debt-to-equity ratio of 2.54, a quick ratio of 1.86 and a current ratio of 1.86. The business has a 50 day moving average of $119.14 and a 200-day moving average of $120.78.

The business also recently announced a 0.39000 dividend, which was paid on Friday, November 8th. Investors of record on Friday, October 4th were paid a $0.43 dividend. This represents a yield of 1.3%. The ex-dividend date was Thursday, October 3rd. American Express’s dividend payout ratio is currently 23.47%.

About American Express

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.

See Also: Why is the ex-dividend date different from the record date?

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