DA Davidson Comments on American Express Co.’s Q4 2016 Earnings (AXP)
American Express Co. (NYSE:AXP) – DA Davidson decreased their Q4 2016 earnings per share estimates for American Express in a report released on Thursday. DA Davidson analyst A. Cyganovich now forecasts that the brokerage will post earnings per share of $0.97 for the quarter, down from their previous estimate of $1.03. DA Davidson has a “Neutral” rating and a $66.00 price objective on the stock. DA Davidson also issued estimates for American Express’ Q1 2017 earnings at $1.26 EPS, Q2 2017 earnings at $1.40 EPS, Q1 2018 earnings at $1.40 EPS, Q2 2018 earnings at $1.57 EPS, Q3 2018 earnings at $1.61 EPS and FY2018 earnings at $6.27 EPS.
American Express (NYSE:AXP) last posted its quarterly earnings data on Wednesday, July 20th. The payment services company reported $2.10 earnings per share for the quarter, beating analysts’ consensus estimates of $1.95 by $0.15. The business earned $8.20 billion during the quarter, compared to analyst estimates of $8.33 billion. American Express had a net margin of 16.73% and a return on equity of 28.00%. The company’s revenue was down .6% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.42 earnings per share.
A number of other research firms have also recently weighed in on AXP. Piper Jaffray Cos. reaffirmed a “hold” rating and issued a $71.00 price objective on shares of American Express in a report on Wednesday, September 7th. William Blair reiterated an “outperform” rating on shares of American Express in a research report on Thursday, July 21st. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $74.00 target price on shares of American Express in a research report on Monday, September 12th. Atlantic Securities started coverage on shares of American Express in a research report on Friday, September 9th. They issued an “underweight” rating and a $62.00 target price for the company. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating on shares of American Express in a research report on Sunday, July 24th. Nine research analysts have rated the stock with a sell rating, nineteen have issued a hold rating and seven have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $67.88.
American Express (NYSE:AXP) opened at 60.15 on Monday. The firm has a market cap of $55.57 billion, a price-to-earnings ratio of 10.64 and a beta of 1.24. American Express has a 52-week low of $50.27 and a 52-week high of $77.61. The stock has a 50 day moving average of $63.87 and a 200-day moving average of $63.60.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 10th. Shareholders of record on Friday, October 7th will be paid a dividend of $0.32 per share. The ex-dividend date is Wednesday, October 5th. This represents a $1.28 dividend on an annualized basis and a yield of 2.13%. This is an increase from American Express’s previous quarterly dividend of $0.29. American Express’s payout ratio is currently 22.54%.
A number of large investors have recently bought and sold shares of the company. Wellington Management Group LLP increased its stake in American Express by 103.8% in the first quarter. Wellington Management Group LLP now owns 24,632,717 shares of the payment services company’s stock worth $1,512,449,000 after buying an additional 12,544,274 shares in the last quarter. Dodge & Cox increased its stake in American Express by 53.8% in the first quarter. Dodge & Cox now owns 26,360,258 shares of the payment services company’s stock worth $1,618,520,000 after buying an additional 9,222,970 shares in the last quarter. Emerald Acquisition Ltd. acquired a new stake in American Express during the second quarter worth $111,313,000. International Value Advisers LLC acquired a new stake in American Express during the second quarter worth $83,148,000. Finally, Renaissance Technologies LLC acquired a new stake in American Express during the first quarter worth $66,459,000. Hedge funds and other institutional investors own 82.03% of the company’s stock.
American Express Company Profile
American Express Company is a services company. The Company’s principal products and services are charge and credit payment card products, and travel-related services offered to consumers and businesses around the world. The Company’s segments include U.S. Consumer Services (USCS), International Consumer and Network Services (ICNS), Global Commercial Services (GCS) and Global Merchant Services (GMS).
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