American Express Co. (NYSE:AXP) updated its FY16 earnings guidance on Wednesday. The company provided EPS guidance of $5.90-6.00 for the period, compared to the Thomson Reuters consensus EPS estimate of $5.60. American Express also updated its FY17 guidance to at least $5.60 EPS.
Several research analysts have issued reports on the stock. Vetr upgraded shares of American Express from a strong sell rating to a sell rating and set a $57.00 price target for the company in a report on Tuesday. Evercore ISI reiterated a hold rating on shares of American Express in a research note on Saturday. Nomura lowered shares of American Express from a neutral rating to a reduce rating and lowered their price objective for the company from $62.00 to $56.00 in a research note on Thursday, October 6th. Credit Suisse Group AG reiterated a sell rating and issued a $62.00 price objective on shares of American Express in a research note on Friday, September 16th. Finally, Keefe, Bruyette & Woods reiterated a market perform rating and issued a $74.00 price objective on shares of American Express in a research note on Monday, September 12th. Nine equities research analysts have rated the stock with a sell rating, nineteen have given a hold rating and seven have issued a buy rating to the company. The stock presently has an average rating of Hold and an average price target of $68.04.
American Express Co. (NYSE:AXP) traded up 1.95% on Wednesday, hitting $61.25. 7,665,367 shares of the company traded hands. American Express Co. has a 1-year low of $50.27 and a 1-year high of $77.61. The firm’s 50 day moving average price is $63.58 and its 200 day moving average price is $63.63. The firm has a market capitalization of $56.58 billion, a PE ratio of 10.83 and a beta of 1.24.
American Express (NYSE:AXP) last announced its earnings results on Wednesday, October 19th. The payment services company reported $1.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.96 by $0.28. The business had revenue of $7.80 billion for the quarter, compared to analysts’ expectations of $7.70 billion. American Express had a return on equity of 28.00% and a net margin of 16.73%. The business’s revenue for the quarter was down 5.1% on a year-over-year basis. During the same period last year, the firm posted $1.24 earnings per share. Equities research analysts predict that American Express Co. will post $5.51 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, November 10th. Shareholders of record on Friday, October 7th will be given a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 2.09%. This is a boost from American Express’s previous quarterly dividend of $0.29. The ex-dividend date of this dividend is Wednesday, October 5th. American Express’s dividend payout ratio (DPR) is presently 22.54%.
A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Mycio Wealth Partners LLC boosted its position in shares of 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 last quarter. Blume Capital Management Inc. boosted its position in shares of 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 during the last quarter. Cantab Capital Partners LLP purchased a new position in shares of American Express during the second quarter valued at about $204,000. Segall Bryant & Hamill LLC boosted its position in shares of 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 during the last quarter. Finally, Lebenthal Wealth Advisors LLC purchased a new position in shares of American Express during the second quarter valued at about $264,000. 82.03% of the stock is currently owned by institutional investors and hedge funds.
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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