American Express to Post Q2 2019 Earnings of $2.08 Per Share, Oppenheimer Forecasts (AXP)

American Express (NYSE:AXP) – Research analysts at Oppenheimer dropped their Q2 2019 earnings estimates for shares of American Express in a research report issued on Tuesday, April 16th, according to Zacks Investment Research. Oppenheimer analyst D. Gabriele now anticipates that the payment services company will post earnings of $2.08 per share for the quarter, down from their prior estimate of $2.12. Oppenheimer currently has a “Buy” rating and a $119.00 target price on the stock. Oppenheimer also issued estimates for American Express’ Q3 2019 earnings at $2.11 EPS.

AXP has been the topic of several other reports. Bank of America set a $108.00 price objective on American Express and gave the stock a “hold” rating in a report on Friday, January 18th. Atlantic Securities raised American Express from a “neutral” rating to an “overweight” rating and set a $100.80 price objective on the stock in a report on Tuesday, January 29th. DZ Bank cut American Express from a “buy” rating to a “hold” rating in a report on Thursday, March 21st. Zacks Investment Research cut American Express from a “hold” rating to a “sell” rating in a report on Wednesday, January 16th. Finally, Morgan Stanley upped their price objective on American Express from $113.00 to $123.00 and gave the stock an “equal weight” rating in a report on Monday, April 22nd. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and seven have issued a buy rating to the company. American Express presently has a consensus rating of “Hold” and a consensus price target of $116.63.

Shares of AXP traded up $1.20 during mid-day trading on Friday, hitting $118.46. 2,435,122 shares of the stock were exchanged, compared to its average volume of 3,166,356. The stock has a market capitalization of $97.92 billion, a price-to-earnings ratio of 16.16, a price-to-earnings-growth ratio of 1.35 and a beta of 1.13. American Express has a 52-week low of $89.05 and a 52-week high of $119.65. The company has a debt-to-equity ratio of 2.63, a current ratio of 1.88 and a quick ratio of 1.88.

American Express (NYSE:AXP) last issued its quarterly earnings data on Thursday, April 18th. The payment services company reported $2.01 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.00 by $0.01. The business had revenue of $10.36 billion for the quarter, compared to analysts’ expectations of $10.46 billion. American Express had a return on equity of 29.86% and a net margin of 16.60%. The company’s revenue for the quarter was up 6.6% on a year-over-year basis. During the same period in the prior year, the firm earned $1.86 EPS.

Hedge funds have recently added to or reduced their stakes in the business. MainStreet Investment Advisors LLC grew its position in shares of American Express by 4.0% during the 1st quarter. MainStreet Investment Advisors LLC now owns 13,029 shares of the payment services company’s stock worth $1,424,000 after buying an additional 504 shares in the last quarter. Jennison Associates LLC grew its position in shares of American Express by 30.5% during the 1st quarter. Jennison Associates LLC now owns 156,003 shares of the payment services company’s stock worth $17,051,000 after buying an additional 36,468 shares in the last quarter. Glassman Wealth Services grew its position in shares of American Express by 6.8% during the 1st quarter. Glassman Wealth Services now owns 3,611 shares of the payment services company’s stock worth $395,000 after buying an additional 231 shares in the last quarter. King Luther Capital Management Corp grew its position in shares of American Express by 4.5% during the 1st quarter. King Luther Capital Management Corp now owns 102,338 shares of the payment services company’s stock worth $11,186,000 after buying an additional 4,434 shares in the last quarter. Finally, Ontario Teachers Pension Plan Board bought a new position in shares of American Express during the 1st quarter worth $3,815,000. Institutional investors and hedge funds own 85.87% of the company’s stock.

In other American Express news, EVP Richard Petrino sold 2,444 shares of the stock in a transaction on Thursday, February 14th. The stock was sold at an average price of $107.11, for a total value of $261,776.84. Following the sale, the executive vice president now owns 7,591 shares in the company, valued at $813,072.01. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Michael John O’neill sold 15,749 shares of the stock in a transaction on Wednesday, April 24th. The stock was sold at an average price of $113.94, for a total value of $1,794,441.06. Following the completion of the sale, the insider now owns 69,941 shares in the company, valued at approximately $7,969,077.54. The disclosure for this sale can be found here. Corporate insiders own 0.21% of the company’s stock.

The business also recently declared a quarterly dividend, which will be paid on Friday, August 9th. Investors of record on Friday, July 5th will be issued a dividend of $0.39 per share. The ex-dividend date is Wednesday, July 3rd. This represents a $1.56 annualized dividend and a yield of 1.32%. American Express’s payout ratio is presently 21.28%.

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.

Further Reading: Technical Analysis

Get a free copy of the Zacks research report on American Express (AXP)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

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.