Zacks: Brokerages Anticipate American Express (NYSE:AXP) to Announce $1.63 Earnings Per Share

Analysts predict that American Express (NYSE:AXP) will post earnings per share (EPS) of $1.63 for the current quarter, Zacks Investment Research reports. Seven analysts have provided estimates for American Express’ earnings, with estimates ranging from $0.70 to $2.14. American Express reported earnings of $2.07 per share during the same quarter last year, which indicates a negative year-over-year growth rate of 21.3%. The business is expected to report its next quarterly earnings report before the market opens on Friday, July 24th.

On average, analysts expect that American Express will report full year earnings of $2.82 per share for the current fiscal year, with EPS estimates ranging from $1.52 to $5.41. For the next fiscal year, analysts anticipate that the business will report earnings of $7.24 per share, with EPS estimates ranging from $5.16 to $10.45. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side research analysts that that provide coverage for American Express.

American Express (NYSE:AXP) last issued its quarterly earnings data on Friday, April 24th. The payment services company reported $1.98 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.69 by $0.29. The business had revenue of $10.31 billion for the quarter, compared to analysts’ expectations of $10.67 billion. American Express had a return on equity of 30.21% and a net margin of 12.74%. The company’s revenue for the quarter was down .5% on a year-over-year basis. During the same period in the prior year, the firm earned $2.01 EPS.

Several analysts recently weighed in on AXP shares. ValuEngine upgraded American Express from a “sell” rating to a “hold” rating in a report on Friday, March 6th. Wells Fargo & Co increased their price target on American Express from $115.00 to $130.00 and gave the company an “overweight” rating in a report on Friday, June 5th. Zacks Investment Research upgraded American Express from a “strong sell” rating to a “hold” rating and set a $101.00 price target on the stock in a report on Thursday, April 30th. Bank of America lowered American Express from a “buy” rating to a “neutral” rating and set a $108.00 price target on the stock. in a report on Thursday, March 12th. Finally, Royal Bank of Canada increased their price target on American Express from $85.00 to $105.00 and gave the company a “sector perform” rating in a report on Thursday, June 4th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and nine have given a buy rating to the company. American Express has a consensus rating of “Hold” and an average price target of $108.10.

A number of hedge funds have recently modified their holdings of the stock. Skandinaviska Enskilda Banken AB publ boosted its position in American Express by 23.6% during the first quarter. Skandinaviska Enskilda Banken AB publ now owns 224,891 shares of the payment services company’s stock valued at $19,253,000 after purchasing an additional 42,983 shares in the last quarter. Confluence Investment Management LLC raised its stake in American Express by 5.8% in the first quarter. Confluence Investment Management LLC now owns 211,775 shares of the payment services company’s stock valued at $18,130,000 after buying an additional 11,700 shares during the last quarter. State of Tennessee Treasury Department raised its stake in American Express by 11.6% in the first quarter. State of Tennessee Treasury Department now owns 566,735 shares of the payment services company’s stock valued at $48,518,000 after buying an additional 59,098 shares during the last quarter. Tredje AP fonden raised its stake in American Express by 24.8% in the first quarter. Tredje AP fonden now owns 62,961 shares of the payment services company’s stock valued at $5,390,000 after buying an additional 12,516 shares during the last quarter. Finally, National Pension Service raised its stake in American Express by 1.0% in the first quarter. National Pension Service now owns 854,442 shares of the payment services company’s stock valued at $73,149,000 after buying an additional 8,605 shares during the last quarter. 84.69% of the stock is currently owned by institutional investors.

Shares of AXP traded up $0.68 during mid-day trading on Tuesday, hitting $95.20. 4,366,479 shares of the stock were exchanged, compared to its average volume of 6,412,907. The firm has a 50-day moving average of $96.51 and a two-hundred day moving average of $106.89. American Express has a 52-week low of $67.00 and a 52-week high of $138.13. The company has a market cap of $76.09 billion, a PE ratio of 14.45, a price-to-earnings-growth ratio of 1.99 and a beta of 1.12. The company has a debt-to-equity ratio of 2.50, a quick ratio of 1.76 and a current ratio of 1.76.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 10th. Investors of record on Thursday, July 2nd will be given a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a yield of 1.81%. The ex-dividend date is Wednesday, July 1st. American Express’s payout ratio is currently 20.98%.

About American Express

American Express Company, together with its subsidiaries, provides charge and credit payment card products, and travel-related services to consumers and businesses worldwide. It operates through three segments: Global Consumer Services Group, Global Commercial Services, and Global Merchant and Network Services.

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