American Express Co. (AXP) Updates FY17 Earnings Guidance
American Express Co. (NYSE:AXP) updated its FY17 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of at least $5.60 for the period, compared to the Thomson Reuters consensus estimate of $5.55. American Express also updated its FY16 guidance to $5.90-6.00 EPS.
Several brokerages have commented on AXP. Nomura reissued a hold rating on shares of American Express in a research note on Saturday, July 9th. Oppenheimer Holdings Inc. reissued a hold rating on shares of American Express in a research note on Thursday, July 21st. Vetr downgraded American Express from a strong-buy rating to a buy rating and set a $67.47 target price for the company. in a research note on Monday, July 11th. Citigroup Inc. reissued a buy rating on shares of American Express in a research note on Wednesday, August 10th. Finally, JPMorgan Chase & Co. reissued a neutral rating on shares of American Express in a research note on Sunday, July 24th. Nine investment analysts have rated the stock with a sell rating, nineteen have given a hold rating and seven have given a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and an average target price of $68.04.
Shares of American Express Co. (NYSE:AXP) traded up 1.95% during midday trading on Wednesday, hitting $61.25. The stock had a trading volume of 7,776,829 shares. The stock’s 50-day moving average is $63.58 and its 200-day moving average is $63.63. The stock has a market cap of $56.58 billion, a PE ratio of 10.83 and a beta of 1.24. American Express Co. has a 12 month low of $50.27 and a 12 month high of $77.61.
American Express (NYSE:AXP) last posted its earnings results on Wednesday, October 19th. The payment services company reported $1.24 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.96 by $0.28. American Express had a return on equity of 28.00% and a net margin of 16.73%. The firm had revenue of $7.80 billion for the quarter, compared to analysts’ expectations of $7.70 billion. During the same period in the previous year, the firm earned $1.24 earnings per share. The business’s revenue was down 5.1% compared to the same quarter last year. Equities analysts anticipate that American Express Co. will post $5.51 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 10th. Stockholders of record on Friday, October 7th will be paid a dividend of $0.32 per share. The ex-dividend date of this dividend is Wednesday, October 5th. This is a boost from American Express’s previous quarterly dividend of $0.29. This represents a $1.28 annualized dividend and a dividend yield of 2.09%. American Express’s payout ratio is 22.54%.
Institutional investors have recently bought and sold shares of the stock. Mycio Wealth Partners LLC boosted 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 valued at $100,000 after buying an additional 65 shares during the period. Blume Capital Management Inc. raised its stake in American Express by 15.5% in the second quarter. Blume Capital Management Inc. now owns 1,733 shares of the payment services company’s stock valued at $105,000 after buying an additional 233 shares in the last quarter. Cantab Capital Partners LLP purchased a new stake in American Express during the second quarter valued at $204,000. Segall Bryant & Hamill LLC raised its stake in American Express by 2.3% in the second quarter. Segall Bryant & Hamill LLC now owns 3,701 shares of the payment services company’s stock valued at $225,000 after buying an additional 84 shares in the last quarter. Finally, Lebenthal Wealth Advisors LLC purchased a new stake in American Express during the second quarter valued at $264,000. 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).
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