American Express Co. (NYSE:AXP) updated its FY16 earnings guidance on Wednesday. The company provided earnings per share guidance of $5.90-6.00 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $5.60. American Express also updated its FY17 guidance to at least $5.60 EPS.

Several brokerages have recently weighed in on AXP. Credit Suisse Group AG restated a sell rating and set a $62.00 price objective on shares of American Express in a research report on Thursday, July 14th. Vetr downgraded shares of American Express from a strong-buy rating to a buy rating and set a $67.47 price target for the company. in a research report on Monday, July 11th. Nomura downgraded shares of American Express from a neutral rating to a reduce rating and reduced their price target for the company from $62.00 to $56.00 in a research report on Thursday, October 6th. BMO Capital Markets initiated coverage on shares of American Express in a research report on Thursday, July 21st. They issued a hold rating and a $73.00 price target for the company. Finally, DA Davidson reiterated a neutral rating and issued a $66.00 price target on shares of American Express in a research report on Friday, July 8th. Nine equities 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 stock. American Express currently has an average rating of Hold and an average target price of $68.04.

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

Shares of American Express Co. (NYSE:AXP) traded up 1.95% on Wednesday, hitting $61.25. 7,527,788 shares of the stock traded hands. The stock has a market cap of $56.58 billion, a price-to-earnings ratio of 10.83 and a beta of 1.24. The company’s 50 day moving average is $63.58 and its 200 day moving average is $63.63. American Express Co. has a one year low of $50.27 and a one year high of $77.61.

American Express (NYSE:AXP) last released its earnings results on Wednesday, October 19th. The payment services company reported $1.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.96 by $0.28. The firm had revenue of $7.80 billion for the quarter, compared to analyst estimates of $7.70 billion. American Express had a return on equity of 28.00% and a net margin of 16.73%. American Express’s revenue was down 5.1% compared to the same quarter last year. During the same period in the previous year, the company earned $1.24 earnings per share. On average, equities analysts forecast that American Express Co. will post $5.51 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 10th. Investors of record on Friday, October 7th will be issued a dividend of $0.32 per share. This is a positive change from American Express’s previous quarterly dividend of $0.29. This represents a $1.28 dividend on an annualized basis and a yield of 2.09%. The ex-dividend date is Wednesday, October 5th. American Express’s payout ratio is presently 22.54%.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Mycio Wealth Partners LLC raised its position in American Express by 4.1% in the second quarter. Mycio Wealth Partners LLC now owns 1,638 shares of the payment services company’s stock worth $100,000 after buying an additional 65 shares during the last quarter. Trexquant Investment LP purchased a new position in American Express during the second quarter worth about $2,023,000. Reliance Trust Co. of Delaware raised its position in American Express by 0.8% in the second quarter. Reliance Trust Co. of Delaware now owns 51,268 shares of the payment services company’s stock worth $3,115,000 after buying an additional 385 shares during the last quarter. Vaughan David Investments Inc. IL raised its position in American Express by 2.5% in the second quarter. Vaughan David Investments Inc. IL now owns 250,313 shares of the payment services company’s stock worth $15,209,000 after buying an additional 6,032 shares during the last quarter. Finally, Burney Co. raised its position in American Express by 54.5% in the second quarter. Burney Co. now owns 12,668 shares of the payment services company’s stock worth $770,000 after buying an additional 4,466 shares during the last quarter. 82.03% of the stock is currently owned by hedge funds and other institutional investors.

About American Express

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).

5 Day Chart for NYSE:AXP

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