American Express (NYSE:AXP) Expected to Announce Quarterly Sales of $11.34 Billion

Brokerages expect that American Express (NYSE:AXP) will announce $11.34 billion in sales for the current quarter, Zacks reports. Seventeen analysts have issued estimates for American Express’ earnings. The lowest sales estimate is $10.71 billion and the highest is $11.76 billion. American Express reported sales of $9.35 billion during the same quarter last year, which would suggest a positive year over year growth rate of 21.3%. The company is scheduled to issue its next quarterly 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 year, with estimates ranging from $40.51 billion to $41.86 billion. For the next year, analysts anticipate that the firm will report sales of $47.37 billion, with estimates ranging from $44.52 billion to $48.78 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that cover American Express.

American Express (NYSE:AXP) last announced its quarterly earnings results 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. The business had revenue of $10.93 billion during the quarter, compared to the consensus estimate of $10.55 billion. American Express had a net margin of 19.54% and a return on equity of 28.48%. The business’s revenue was up 24.9% compared to the same quarter last year. During the same quarter last year, the firm posted $1.30 EPS.

A number of brokerages have recently issued reports on AXP. Morgan Stanley cut their price target on shares of American Express from $200.00 to $195.00 and set an “overweight” rating for the company in a report on Thursday, September 16th. BMO Capital Markets increased their price objective on shares of American Express from $147.00 to $151.00 and gave the company a “market perform” rating in a research note on Monday, October 25th. They noted that the move was a valuation call. Seaport Res Ptn reissued a “neutral” rating on shares of American Express in a research note on Monday, August 30th. Royal Bank of Canada increased their price objective on shares of American Express from $185.00 to $195.00 and gave the company a “sector perform” rating in a research note on Monday, October 25th. Finally, Bank of America increased their price objective on shares of American Express from $178.00 to $189.00 and gave the company a “neutral” rating in a research note on Monday, October 25th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $176.68.

Shares of AXP traded up $0.76 during trading hours on Thursday, reaching $171.61. The company had a trading volume of 3,590,757 shares, compared to its average volume of 3,504,206. The firm has a 50 day simple moving average of $174.84 and a 200-day simple moving average of $168.13. 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 company has a market capitalization of $132.92 billion, a price-to-earnings ratio of 17.93, a PEG ratio of 0.94 and a beta of 1.24. American Express has a 12-month low of $112.10 and a 12-month high of $189.03.

The business also recently disclosed 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 was Thursday, October 7th. This represents a $1.72 annualized dividend and a dividend yield of 1.00%. American Express’s payout ratio is currently 17.97%.

In other news, insider Marc D. Gordon sold 13,424 shares of the stock in a transaction dated Friday, September 10th. The shares were sold at an average price of $159.24, for a total transaction of $2,137,637.76. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.20% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of AXP. Arrowstreet Capital Limited Partnership purchased a new position in American Express in the first quarter valued at approximately $2,264,000. Man Group plc raised its holdings in American Express by 1,045.2% in the first quarter. Man Group plc now owns 40,392 shares of the payment services company’s stock valued at $5,714,000 after buying an additional 36,865 shares during the period. IHT Wealth Management LLC raised its holdings in American Express by 6.9% in the first quarter. IHT Wealth Management LLC now owns 3,852 shares of the payment services company’s stock valued at $545,000 after buying an additional 248 shares during the period. Optimal Asset Management Inc. purchased a new stake in shares of American Express during the first quarter valued at approximately $442,000. Finally, Morgan Stanley raised its stake in shares of American Express by 6.3% during the first quarter. Morgan Stanley now owns 9,294,095 shares of the payment services company’s stock valued at $1,314,558,000 after purchasing an additional 553,665 shares during the period. Hedge funds and other institutional investors own 86.78% of the company’s stock.

American Express Company Profile

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.

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

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