American Express Company (NYSE:AXP) to Post Q4 2017 Earnings of $1.48 Per Share, Oppenheimer Holdings Forecasts

American Express Company (NYSE:AXP) – Investment analysts at Oppenheimer Holdings lowered their Q4 2017 EPS estimates for shares of American Express in a research note issued on Thursday. Oppenheimer Holdings analyst B. Chittenden now expects that the payment services company will earn $1.48 per share for the quarter, down from their previous forecast of $1.49. Oppenheimer Holdings currently has a “Outperform” rating and a $93.00 target price on the stock.

Several other brokerages also recently issued reports on AXP. Jefferies Group LLC reissued a “hold” rating and set a $85.00 price objective on shares of American Express in a research report on Saturday. Sanford C. Bernstein reissued an “outperform” rating and set a $100.00 price objective (up from $99.00) on shares of American Express in a research report on Saturday. Guggenheim raised shares of American Express from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $81.05 to $90.00 in a research report on Tuesday, April 25th. Credit Suisse Group reissued a “sell” rating and set a $76.00 price objective on shares of American Express in a research report on Friday, April 7th. Finally, Nomura raised shares of American Express from a “reduce” rating to a “neutral” rating and raised their price objective for the stock from $63.00 to $78.00 in a research report on Thursday, April 27th. Four analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and fourteen have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $84.77.

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Shares of American Express (NYSE:AXP) opened at 85.59 on Monday. American Express has a 12-month low of $59.50 and a 12-month high of $86.28. The firm has a 50-day moving average of $82.61 and a 200 day moving average of $79.25. The stock has a market capitalization of $75.75 billion, a price-to-earnings ratio of 17.55 and a beta of 1.18.

American Express (NYSE:AXP) last posted its quarterly earnings results on Wednesday, July 19th. The payment services company reported $1.47 EPS for the quarter, beating the consensus estimate of $1.44 by $0.03. American Express had a net margin of 14.11% and a return on equity of 21.94%. The company had revenue of $8.31 billion for the quarter, compared to analyst estimates of $8.20 billion. During the same period in the prior year, the company earned $2.10 earnings per share. The firm’s revenue was up .9% on a year-over-year basis.

A number of institutional investors have recently made changes to their positions in the company. MCF Advisors LLC boosted its position in shares of American Express by 0.5% in the first quarter. MCF Advisors LLC now owns 1,282 shares of the payment services company’s stock worth $101,000 after buying an additional 6 shares during the last quarter. Appleton Partners Inc. MA boosted its position in shares of American Express by 0.3% in the second quarter. Appleton Partners Inc. MA now owns 2,658 shares of the payment services company’s stock worth $224,000 after buying an additional 8 shares during the last quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC boosted its position in shares of American Express by 0.4% in the first quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC now owns 2,641 shares of the payment services company’s stock worth $209,000 after buying an additional 10 shares during the last quarter. Bath Savings Trust Co boosted its position in shares of American Express by 0.3% in the second quarter. Bath Savings Trust Co now owns 4,388 shares of the payment services company’s stock worth $369,000 after buying an additional 14 shares during the last quarter. Finally, Accredited Investors Inc. boosted its position in shares of American Express by 0.5% in the first quarter. Accredited Investors Inc. now owns 3,174 shares of the payment services company’s stock worth $251,000 after buying an additional 15 shares during the last quarter. Institutional investors own 82.76% of the company’s stock.

In other American Express news, insider Paul D. Fabara sold 5,981 shares of American Express stock in a transaction dated Friday, July 21st. The shares were sold at an average price of $85.88, for a total transaction of $513,648.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Marc D. Gordon sold 4,900 shares of American Express stock in a transaction dated Wednesday, May 24th. The stock was sold at an average price of $76.98, for a total transaction of $377,202.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 60,831 shares of company stock valued at $4,921,191. 0.67% of the stock is currently owned by company insiders.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 10th. Shareholders of record on Friday, July 7th will be given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 1.50%. The ex-dividend date of this dividend is Wednesday, July 5th. American Express’s payout ratio is currently 26.18%.

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

American Express Company Profile

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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