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.
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.
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