The American Express Co. (AXP) Announces Earnings Results

The American Express Co. (AXP) Announces  Earnings Results

American Express Co. (NYSE:AXP) posted its earnings results on Thursday. The payment services company reported $0.91 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.99 by $0.08. American Express had a return on equity of 27.84% and a net margin of 16.67%. The business earned $8 billion during the quarter, compared to analyst estimates of $7.92 billion. During the same quarter in the prior year, the company earned $1.23 EPS. The company’s revenue was down 4.4% on a year-over-year basis. American Express updated its FY17 guidance to $5.60-5.80 EPS.

American Express (NYSE:AXP) traded down 1.03% during mid-day trading on Thursday, hitting $76.69. 8,040,839 shares of the stock traded hands. The company’s 50 day moving average is $74.77 and its 200 day moving average is $67.53. American Express has a 12 month low of $50.27 and a 12 month high of $78.00. The company has a market cap of $70.19 billion, a P/E ratio of 13.63 and a beta of 1.20.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 10th. Stockholders of record on Friday, January 6th will be given a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 1.67%. The ex-dividend date is Wednesday, January 4th. American Express’s dividend payout ratio (DPR) is currently 22.70%.

A number of equities research analysts recently weighed in on the stock. JPMorgan Chase & Co. upgraded shares of American Express from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $76.00 to $90.00 in a report on Tuesday. Oppenheimer Holdings Inc. reiterated a “buy” rating on shares of American Express in a research note on Thursday, January 12th. Bank of America Corp. increased their price objective on shares of American Express from $75.86 to $98.00 and gave the company a “market perform” rating in a research note on Tuesday, January 10th. Vetr upgraded shares of American Express from a “sell” rating to a “hold” rating and set a $76.30 price objective for the company in a research note on Monday, January 9th. Finally, Barclays PLC set a $83.00 price objective on shares of American Express and gave the company a “hold” rating in a research note on Sunday, January 8th. Seven equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and ten have issued a buy rating to the company’s stock. American Express currently has a consensus rating of “Hold” and a consensus target price of $72.78.

In other American Express news, insider Ashwini Gupta sold 140,808 shares of the company’s stock in a transaction that occurred on Friday, October 21st. The shares were sold at an average price of $67.18, for a total transaction of $9,459,481.44. Following the completion of the sale, the insider now directly owns 239,718 shares of the company’s stock, valued at $16,104,255.24. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider L Kevin Cox sold 54,574 shares of the company’s stock in a transaction that occurred on Tuesday, January 10th. The shares were sold at an average price of $78.00, for a total transaction of $4,256,772.00. Following the sale, the insider now directly owns 30,090 shares of the company’s stock, valued at $2,347,020. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 413,500 shares of company stock valued at $29,447,770. 0.78% of the stock is owned by corporate insiders.

Hedge funds have recently made changes to their positions in the stock. 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 $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. 80.61% of the stock is owned by institutional investors and hedge funds.

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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