The American Express Co. (AXP) Issues FY17 Earnings Guidance

The American Express Co. (AXP) Issues FY17 Earnings Guidance

American Express Co. (NYSE:AXP) issued an update on its FY17 earnings guidance on Thursday morning. The company provided earnings per share guidance of $5.60-5.80 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $5.59.

American Express Co. (NYSE:AXP) traded down 1.03% on Thursday, reaching $76.69. 8,054,020 shares of the company were exchanged. The stock has a market capitalization of $70.19 billion, a price-to-earnings ratio of 13.63 and a beta of 1.20. American Express Co. has a 52 week low of $50.27 and a 52 week high of $78.00. The stock has a 50-day moving average price of $74.77 and a 200 day moving average price of $67.53.

American Express (NYSE:AXP) last announced its quarterly earnings data on Thursday, January 19th. The payment services company reported $0.91 EPS for the quarter, missing the Zacks’ consensus estimate of $0.99 by $0.08. American Express had a net margin of 16.67% and a return on equity of 27.84%. The firm earned $8 billion during the quarter, compared to analysts’ expectations of $7.92 billion. During the same period in the prior year, the company posted $1.23 earnings per share. The company’s revenue for the quarter was down 4.4% on a year-over-year basis. Analysts forecast that American Express Co. will post $5.75 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 10th. Shareholders of record on Friday, January 6th will be given a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.67%. The ex-dividend date is Wednesday, January 4th. American Express’s dividend payout ratio is presently 22.70%.

A number of equities research analysts have commented on AXP shares. Zacks Investment Research raised shares of American Express from a hold rating to a buy rating and set a $75.00 price objective on the stock in a research report on Monday, October 24th. TheStreet raised shares of American Express from a hold rating to a buy rating in a research report on Tuesday, November 15th. Bank of America Corp. raised shares of American Express from a neutral rating to a buy rating and increased their price objective for the company from $78.00 to $90.00 in a research report on Monday, January 9th. Oppenheimer Holdings Inc. reissued a buy rating on shares of American Express in a research report on Thursday, January 12th. Finally, Barclays PLC reissued an equal weight rating and issued a $63.00 price objective on shares of American Express in a research report on Tuesday, December 6th. Seven investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and ten have assigned a buy rating to the company’s stock. The company has a consensus rating of Hold and a consensus price target of $72.78.

In related news, insider Ashwini Gupta sold 140,808 shares of the firm’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 value of $9,459,481.44. Following the sale, the insider now directly owns 239,718 shares of the company’s stock, valued at $16,104,255.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider L Kevin Cox sold 54,574 shares of the firm’s stock in a transaction that occurred on Tuesday, January 10th. The stock was sold at an average price of $78.00, for a total transaction of $4,256,772.00. Following the completion of the sale, the insider now directly owns 30,090 shares in the company, valued at $2,347,020. The disclosure for this sale can be found here. Insiders sold 413,500 shares of company stock worth $29,447,770 over the last three months. Corporate insiders own 0.78% of the company’s stock.

Several large investors have recently added to or reduced their stakes 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 worth $100,000 after buying an additional 65 shares during the period. 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 worth $105,000 after buying an additional 233 shares during the period. Cantab Capital Partners LLP acquired a new position in shares of American Express during the second quarter worth $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 worth $225,000 after buying an additional 84 shares during the period. Finally, Lebenthal Wealth Advisors LLC acquired a new position in shares of American Express during the second quarter worth $264,000. 80.61% of the stock is currently 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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