Oppenheimer Research Analysts Lower Earnings Estimates for American Express (AXP)
American Express (NYSE:AXP) – Equities research analysts at Oppenheimer dropped their Q4 2019 earnings per share estimates for shares of American Express in a research note issued on Sunday, April 21st. Oppenheimer analyst D. Gabriele now anticipates that the payment services company will post earnings of $1.93 per share for the quarter, down from their prior forecast of $1.95. Oppenheimer has a “Buy” rating and a $119.00 price target on the stock.
Other analysts also recently issued reports about the stock. Wells Fargo & Co restated a “buy” rating and issued a $125.00 target price (up from $115.00) on shares of American Express in a report on Tuesday, March 12th. Morgan Stanley boosted their target price on shares of American Express from $113.00 to $123.00 and gave the stock an “equal weight” rating in a report on Monday. Credit Suisse Group restated a “hold” rating and issued a $93.00 target price on shares of American Express in a report on Friday, January 18th. Zacks Investment Research downgraded shares of American Express from a “buy” rating to a “hold” rating in a report on Thursday, January 3rd. Finally, Bank of America restated a “neutral” rating and issued a $108.00 target price on shares of American Express in a report on Thursday, March 14th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $112.99.
American Express (NYSE:AXP) last posted its earnings results on Thursday, April 18th. The payment services company reported $2.01 earnings per share for the quarter, topping analysts’ consensus estimates of $2.00 by $0.01. American Express had a net margin of 16.60% and a return on equity of 29.94%. The firm had revenue of $10.36 billion for the quarter, compared to the consensus estimate of $10.46 billion. During the same period in the previous year, the firm posted $1.86 EPS. The business’s quarterly revenue was up 6.6% on a year-over-year basis.
The company also recently declared a quarterly dividend, which will be paid on Friday, May 10th. Investors of record on Friday, April 5th will be issued a dividend of $0.39 per share. The ex-dividend date of this dividend is Thursday, April 4th. This represents a $1.56 annualized dividend and a yield of 1.37%. American Express’s payout ratio is 21.28%.
In related news, EVP Richard Petrino sold 2,444 shares of the company’s stock in a transaction dated Thursday, February 14th. The shares were sold at an average price of $107.11, for a total transaction of $261,776.84. Following the transaction, the executive vice president now directly owns 7,591 shares in the company, valued at approximately $813,072.01. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Stephen J. Squeri sold 12,500 shares of the company’s stock in a transaction dated Friday, February 1st. The shares were sold at an average price of $103.02, for a total transaction of $1,287,750.00. The disclosure for this sale can be found here. Corporate insiders own 0.21% of the company’s stock.
Large investors have recently modified their holdings of the stock. Lake Point Wealth Management bought a new position in American Express during the 4th quarter valued at about $201,000. Wisconsin Capital Management LLC bought a new position in American Express in the 4th quarter worth about $3,241,000. CI Investments Inc. grew its stake in American Express by 17.8% in the 4th quarter. CI Investments Inc. now owns 499,737 shares of the payment services company’s stock worth $47,635,000 after acquiring an additional 75,400 shares in the last quarter. Canada Pension Plan Investment Board grew its stake in American Express by 33.5% in the 4th quarter. Canada Pension Plan Investment Board now owns 516,907 shares of the payment services company’s stock worth $49,268,000 after acquiring an additional 129,701 shares in the last quarter. Finally, Abner Herrman & Brock LLC grew its stake in American Express by 3.0% in the 4th quarter. Abner Herrman & Brock LLC now owns 160,531 shares of the payment services company’s stock worth $15,302,000 after acquiring an additional 4,634 shares in the last quarter. Institutional investors own 84.86% 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 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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