Brokers Issue Forecasts for American Express Company’s FY2017 Earnings (AXP)

American Express Company (NYSE:AXP) – Jefferies Group lifted their FY2017 earnings per share (EPS) estimates for shares of American Express in a note issued to investors on Thursday. Jefferies Group analyst J. Hecht now anticipates that the payment services company will post earnings of $5.86 per share for the year, up from their previous forecast of $5.60. Jefferies Group currently has a “Hold” rating and a $93.35 target price on the stock. Jefferies Group also issued estimates for American Express’ FY2018 earnings at $6.64 EPS.

American Express (NYSE:AXP) last announced its quarterly earnings results on Wednesday, October 18th. The payment services company reported $1.50 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.47 by $0.03. American Express had a net margin of 14.48% and a return on equity of 22.78%. The business had revenue of $8.44 billion for the quarter, compared to analysts’ expectations of $8.31 billion. During the same quarter last year, the firm earned $1.24 EPS. The firm’s revenue for the quarter was up 8.5% compared to the same quarter last year.

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Other equities research analysts have also recently issued research reports about the stock. BidaskClub upgraded shares of American Express from a “hold” rating to a “buy” rating in a report on Friday, June 30th. Barclays PLC restated a “buy” rating and issued a $83.00 price objective on shares of American Express in a report on Thursday, July 20th. Guggenheim reiterated a “buy” rating and set a $95.00 price target (up previously from $90.00) on shares of American Express in a report on Saturday, July 22nd. Keefe, Bruyette & Woods set a $95.00 price target on shares of American Express and gave the company a “buy” rating in a report on Saturday, August 19th. Finally, Zacks Investment Research upgraded shares of American Express from a “hold” rating to a “buy” rating and set a $96.00 price target on the stock in a report on Tuesday, August 29th. Three analysts have rated the stock with a sell rating, sixteen have given a hold rating and thirteen have assigned a buy rating to the company. American Express presently has a consensus rating of “Hold” and a consensus price target of $90.66.

Shares of American Express (AXP) traded up 0.81% during trading on Friday, reaching $92.64. 1,500,383 shares of the company traded hands. American Express has a 12-month low of $65.03 and a 12-month high of $93.29. The firm’s 50 day moving average is $89.03 and its 200-day moving average is $83.45. The stock has a market capitalization of $81.89 billion, a P/E ratio of 19.00 and a beta of 1.21.

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 10th. Shareholders of record on Friday, October 6th will be given a $0.35 dividend. The ex-dividend date is Thursday, October 5th. This is an increase from American Express’s previous quarterly dividend of $0.32. This represents a $1.40 annualized dividend and a yield of 1.52%. American Express’s dividend payout ratio (DPR) is presently 26.97%.

American Express announced that its Board of Directors has initiated a share buyback program on Wednesday, June 28th that permits the company to repurchase $4.40 billion in shares. This repurchase authorization permits the payment services company to repurchase up to 5.9% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its stock is undervalued.

In other news, insider James Peter Bush sold 10,230 shares of the stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $90.55, for a total value of $926,326.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Kenneth I. Chenault sold 789,503 shares of the stock in a transaction on Monday, July 24th. The stock was sold at an average price of $84.62, for a total transaction of $66,807,743.86. Following the completion of the sale, the chief executive officer now directly owns 889,836 shares of the company’s stock, valued at $75,297,922.32. The disclosure for this sale can be found here. Insiders sold 953,636 shares of company stock worth $80,863,777 over the last quarter. Insiders own 0.67% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Matthew Goff Investment Advisor LLC purchased a new stake in shares of American Express in the first quarter worth $2,543,000. Vanguard Group Inc. increased its stake in shares of American Express by 1.5% in the first quarter. Vanguard Group Inc. now owns 49,502,529 shares of the payment services company’s stock worth $3,916,145,000 after purchasing an additional 722,235 shares in the last quarter. Rothschild Asset Management Inc. increased its stake in shares of American Express by 19.5% in the first quarter. Rothschild Asset Management Inc. now owns 641,409 shares of the payment services company’s stock worth $50,742,000 after purchasing an additional 104,647 shares in the last quarter. First Citizens Bank & Trust Co. purchased a new stake in shares of American Express in the second quarter worth $215,000. Finally, Trust Co. of Vermont increased its stake in shares of American Express by 5.0% in the first quarter. Trust Co. of Vermont now owns 17,289 shares of the payment services company’s stock worth $1,367,000 after purchasing an additional 819 shares in the last quarter. 82.77% of the stock is owned by hedge funds and other institutional investors.

About American Express

American Express Company, together with its subsidiaries, is a global services company. The Company’s principal products and services are charge and credit card products, and travel-related services, which are offered to consumers and businesses around the world. Its segments include the U.S. Consumer Services (USCS), International Consumer and Network Services (ICNS), Globa

American Express Company (NYSE:AXP) – Jefferies Group lifted their FY2017 earnings per share (EPS) estimates for shares of American Express in a note issued to investors on Thursday. Jefferies Group analyst J. Hecht now anticipates that the payment services company will post earnings of $5.86 per share for the year, up from their previous forecast of $5.60. Jefferies Group currently has a “Hold” rating and a $93.35 target price on the stock. Jefferies Group also issued estimates for American Express’ FY2018 earnings at $6.64 EPS.

American Express (NYSE:AXP) last announced its quarterly earnings results on Wednesday, October 18th. The payment services company reported $1.50 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.47 by $0.03. American Express had a net margin of 14.48% and a return on equity of 22.78%. The business had revenue of $8.44 billion for the quarter, compared to analysts’ expectations of $8.31 billion. During the same quarter last year, the firm earned $1.24 EPS. The firm’s revenue for the quarter was up 8.5% compared to the same quarter last year.

COPYRIGHT VIOLATION NOTICE: This piece was originally posted by The Ledger Gazette and is the property of of The Ledger Gazette. If you are viewing this piece on another publication, it was illegally stolen and republished in violation of US and international copyright & trademark legislation. The correct version of this piece can be read at https://ledgergazette.com/2017/10/20/brokers-issue-forecasts-for-american-express-companys-fy2017-earnings-axp.html.

Other equities research analysts have also recently issued research reports about the stock. BidaskClub upgraded shares of American Express from a “hold” rating to a “buy” rating in a report on Friday, June 30th. Barclays PLC restated a “buy” rating and issued a $83.00 price objective on shares of American Express in a report on Thursday, July 20th. Guggenheim reiterated a “buy” rating and set a $95.00 price target (up previously from $90.00) on shares of American Express in a report on Saturday, July 22nd. Keefe, Bruyette & Woods set a $95.00 price target on shares of American Express and gave the company a “buy” rating in a report on Saturday, August 19th. Finally, Zacks Investment Research upgraded shares of American Express from a “hold” rating to a “buy” rating and set a $96.00 price target on the stock in a report on Tuesday, August 29th. Three analysts have rated the stock with a sell rating, sixteen have given a hold rating and thirteen have assigned a buy rating to the company. American Express presently has a consensus rating of “Hold” and a consensus price target of $90.66.

Shares of American Express (AXP) traded up 0.81% during trading on Friday, reaching $92.64. 1,500,383 shares of the company traded hands. American Express has a 12-month low of $65.03 and a 12-month high of $93.29. The firm’s 50 day moving average is $89.03 and its 200-day moving average is $83.45. The stock has a market capitalization of $81.89 billion, a P/E ratio of 19.00 and a beta of 1.21.

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 10th. Shareholders of record on Friday, October 6th will be given a $0.35 dividend. The ex-dividend date is Thursday, October 5th. This is an increase from American Express’s previous quarterly dividend of $0.32. This represents a $1.40 annualized dividend and a yield of 1.52%. American Express’s dividend payout ratio (DPR) is presently 26.97%.

American Express announced that its Board of Directors has initiated a share buyback program on Wednesday, June 28th that permits the company to repurchase $4.40 billion in shares. This repurchase authorization permits the payment services company to repurchase up to 5.9% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its stock is undervalued.

In other news, insider James Peter Bush sold 10,230 shares of the stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $90.55, for a total value of $926,326.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Kenneth I. Chenault sold 789,503 shares of the stock in a transaction on Monday, July 24th. The stock was sold at an average price of $84.62, for a total transaction of $66,807,743.86. Following the completion of the sale, the chief executive officer now directly owns 889,836 shares of the company’s stock, valued at $75,297,922.32. The disclosure for this sale can be found here. Insiders sold 953,636 shares of company stock worth $80,863,777 over the last quarter. Insiders own 0.67% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Matthew Goff Investment Advisor LLC purchased a new stake in shares of American Express in the first quarter worth $2,543,000. Vanguard Group Inc. increased its stake in shares of American Express by 1.5% in the first quarter. Vanguard Group Inc. now owns 49,502,529 shares of the payment services company’s stock worth $3,916,145,000 after purchasing an additional 722,235 shares in the last quarter. Rothschild Asset Management Inc. increased its stake in shares of American Express by 19.5% in the first quarter. Rothschild Asset Management Inc. now owns 641,409 shares of the payment services company’s stock worth $50,742,000 after purchasing an additional 104,647 shares in the last quarter. First Citizens Bank & Trust Co. purchased a new stake in shares of American Express in the second quarter worth $215,000. Finally, Trust Co. of Vermont increased its stake in shares of American Express by 5.0% in the first quarter. Trust Co. of Vermont now owns 17,289 shares of the payment services company’s stock worth $1,367,000 after purchasing an additional 819 shares in the last quarter. 82.77% of the stock is owned by hedge funds and other institutional investors.

About American Express

American Express Company, together with its subsidiaries, is a global services company. The Company’s principal products and services are charge and credit card products, and travel-related services, which are offered to consumers and businesses around the world. Its segments include the U.S. Consumer Services (USCS), International Consumer and Network Services (ICNS), Global Commercial Services (GCS) and Global Merchant Services (GMS).

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

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