$11.34 Billion in Sales Expected for American Express (NYSE:AXP) This Quarter

Equities research analysts predict that American Express (NYSE:AXP) will report $11.34 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Seventeen analysts have made estimates for American Express’ earnings. The highest sales estimate is $11.76 billion and the lowest is $10.71 billion. American Express posted sales of $9.35 billion during the same quarter last year, which suggests a positive year-over-year growth rate of 21.3%. The firm is expected to announce its next earnings report on Tuesday, January 25th.

On average, analysts expect that American Express will report full year sales of $41.50 billion for the current fiscal year, with estimates ranging from $40.51 billion to $41.86 billion. For the next year, analysts forecast that the business will report sales of $47.37 billion, with estimates ranging from $44.52 billion to $48.78 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for American Express.

American Express (NYSE:AXP) last announced its quarterly earnings data on Thursday, October 21st. The payment services company reported $2.27 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.80 by $0.47. American Express had a return on equity of 28.48% and a net margin of 19.54%. The firm had revenue of $10.93 billion for the quarter, compared to analysts’ expectations of $10.55 billion. During the same period last year, the firm earned $1.30 earnings per share. The company’s revenue for the quarter was up 24.9% compared to the same quarter last year.

AXP has been the topic of several recent analyst reports. Deutsche Bank Aktiengesellschaft raised their target price on American Express from $190.00 to $200.00 and gave the stock a “buy” rating in a research note on Monday, October 25th. Barclays raised their target price on American Express from $166.00 to $168.00 and gave the stock an “equal weight” rating in a research note on Monday, October 11th. BMO Capital Markets raised their target price on American Express from $147.00 to $151.00 and gave the stock a “market perform” rating in a research note on Monday, October 25th. They noted that the move was a valuation call. Bank of America raised their target price on American Express from $178.00 to $189.00 and gave the stock a “neutral” rating in a research note on Monday, October 25th. Finally, Daiwa Capital Markets cut American Express from an “outperform” rating to a “neutral” rating and set a $180.00 target price on the stock. in a research note on Thursday, August 12th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $176.68.

In related news, insider Marc D. Gordon sold 13,424 shares of the business’s stock in a transaction that occurred on Friday, September 10th. The shares were sold at an average price of $159.24, for a total value of $2,137,637.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.20% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Fort Point Capital Partners LLC raised its holdings in American Express by 0.7% in the 3rd quarter. Fort Point Capital Partners LLC now owns 7,467 shares of the payment services company’s stock worth $1,251,000 after acquiring an additional 55 shares during the last quarter. B. Riley Wealth Management Inc. grew its position in American Express by 1.7% in the 3rd quarter. B. Riley Wealth Management Inc. now owns 3,373 shares of the payment services company’s stock worth $565,000 after purchasing an additional 56 shares during the period. Financial Management Professionals Inc. grew its position in American Express by 6.1% in the 3rd quarter. Financial Management Professionals Inc. now owns 1,015 shares of the payment services company’s stock worth $170,000 after purchasing an additional 58 shares during the period. REDW Wealth LLC grew its position in American Express by 2.5% in the 2nd quarter. REDW Wealth LLC now owns 2,452 shares of the payment services company’s stock worth $405,000 after purchasing an additional 59 shares during the period. Finally, Benedetti & Gucer Inc. grew its position in American Express by 1.9% in the 2nd quarter. Benedetti & Gucer Inc. now owns 3,173 shares of the payment services company’s stock worth $524,000 after purchasing an additional 60 shares during the period. Institutional investors own 86.78% of the company’s stock.

Shares of NYSE:AXP traded up $0.76 on Thursday, reaching $171.61. 3,590,757 shares of the company traded hands, compared to its average volume of 3,504,206. The company has a current ratio of 1.59, a quick ratio of 1.59 and a debt-to-equity ratio of 1.41. The stock has a market capitalization of $132.92 billion, a P/E ratio of 17.93, a price-to-earnings-growth ratio of 0.94 and a beta of 1.24. American Express has a 52 week low of $112.10 and a 52 week high of $189.03. The business’s 50-day simple moving average is $174.84 and its 200 day simple moving average is $168.13.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 10th. Stockholders of record on Friday, October 8th were issued a dividend of $0.43 per share. The ex-dividend date of this dividend was Thursday, October 7th. This represents a $1.72 annualized dividend and a dividend yield of 1.00%. American Express’s payout ratio is 17.97%.

About American Express

American Express Co engages in the provision of charge and credit card products and travel-related services. It operates through the following segments: Global Consumer Services Group, Global Commercial Services, Global Merchant and Network Services, and Corporate and Other. The Global Consumer Services Group segment issues a wide range of proprietary consumer cards globally.

See Also: Consumer Price Index (CPI)

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Earnings History and Estimates for American Express (NYSE:AXP)

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