American Express (NYSE:AXP) – Equities research analysts at Oppenheimer cut their Q3 2021 earnings per share (EPS) estimates for American Express in a research report issued to clients and investors on Sunday, October 25th. Oppenheimer analyst D. Gabriele now forecasts that the payment services company will post earnings per share of $1.75 for the quarter, down from their previous estimate of $1.79. Oppenheimer has a “Buy” rating on the stock. Oppenheimer also issued estimates for American Express’ Q4 2021 earnings at $1.72 EPS.
A number of other equities research analysts have also commented on AXP. Daiwa Capital Markets restated a “neutral” rating and set a $100.00 price objective on shares of American Express in a report on Tuesday, July 21st. Morgan Stanley raised their price objective on shares of American Express from $114.00 to $115.00 and gave the stock an “overweight” rating in a report on Monday, October 5th. Bank of America lowered shares of American Express from a “neutral” rating to an “underperform” rating in a research note on Wednesday, September 23rd. Citigroup lowered shares of American Express from a “buy” rating to a “neutral” rating and lowered their price target for the company from $110.00 to $105.00 in a research note on Wednesday, July 8th. Finally, Wells Fargo & Company reiterated a “sell” rating and issued a $90.00 price target on shares of American Express in a research note on Wednesday, September 30th. Five investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and nine have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $105.04.
Shares of NYSE:AXP opened at $91.07 on Wednesday. American Express has a 12 month low of $67.00 and a 12 month high of $138.13. The company has a quick ratio of 1.56, a current ratio of 1.57 and a debt-to-equity ratio of 2.05. The company’s fifty day simple moving average is $101.98 and its 200 day simple moving average is $96.88. The firm has a market cap of $73.33 billion, a price-to-earnings ratio of 22.60, a PEG ratio of 2.19 and a beta of 1.14.
American Express (NYSE:AXP) last issued its quarterly earnings data on Friday, October 23rd. The payment services company reported $1.30 EPS for the quarter, missing analysts’ consensus estimates of $1.39 by ($0.09). American Express had a return on equity of 21.28% and a net margin of 8.84%. The company had revenue of $8.75 billion for the quarter, compared to analyst estimates of $8.71 billion. During the same quarter in the previous year, the business earned $2.08 earnings per share. The company’s revenue was down 20.4% on a year-over-year basis.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 10th. Investors of record on Friday, October 9th will be issued a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a dividend yield of 1.89%. The ex-dividend date is Thursday, October 8th. American Express’s payout ratio is 20.98%.
In other American Express news, insider Denise Pickett sold 2,864 shares of the business’s stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $96.62, for a total value of $276,719.68. Following the completion of the sale, the insider now owns 10,202 shares of the company’s stock, valued at approximately $985,717.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.20% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in AXP. Fundamentun LLC increased its position in American Express by 3.0% in the 3rd quarter. Fundamentun LLC now owns 16,251 shares of the payment services company’s stock valued at $1,629,000 after acquiring an additional 479 shares during the period. Stratos Wealth Partners LTD. boosted its stake in shares of American Express by 18.3% in the 3rd quarter. Stratos Wealth Partners LTD. now owns 26,157 shares of the payment services company’s stock valued at $2,622,000 after purchasing an additional 4,041 shares during the last quarter. Parsons Capital Management Inc. RI bought a new stake in shares of American Express in the 3rd quarter valued at $231,000. Semmax Financial Advisors Inc. boosted its stake in shares of American Express by 5.0% in the 3rd quarter. Semmax Financial Advisors Inc. now owns 2,998 shares of the payment services company’s stock valued at $301,000 after purchasing an additional 143 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale boosted its stake in American Express by 14.6% during the third quarter. DekaBank Deutsche Girozentrale now owns 97,054 shares of the payment services company’s stock worth $9,366,000 after acquiring an additional 12,363 shares in the last quarter. Institutional investors and hedge funds own 84.14% of the company’s stock.
American Express Company Profile
American Express Company, together with its subsidiaries, provides charge and credit payment card products, and travel-related services worldwide. The company operates through three segments: Global Consumer Services Group, Global Commercial Services, and Global Merchant and Network Services. Its products and services include payment and financing products; network services; expense management products and services; and lifestyle services.
Featured Story: What is intrinsic value?
Receive News & Ratings for American Express Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for American Express and related companies with MarketBeat.com's FREE daily email newsletter.