American Express Co. (NYSE:AXP) issued its quarterly earnings data on Wednesday. The payment services company reported $1.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.96 by $0.28. The firm earned $7.80 billion during the quarter, compared to analysts’ expectations of $7.70 billion. American Express had a return on equity of 28.00% and a net margin of 16.73%. American Express’s revenue was down 5.1% on a year-over-year basis. During the same period in the previous year, the firm posted $1.24 earnings per share. American Express updated its FY16 guidance to $5.90-6.00 EPS and its FY17 guidance to at least $5.60 EPS.
Shares of American Express (NYSE:AXP) traded up 1.95% during mid-day trading on Wednesday, hitting $61.25. The stock had a trading volume of 7,392,733 shares. The firm has a 50 day moving average of $63.58 and a 200 day moving average of $63.63. The stock has a market cap of $56.58 billion, a price-to-earnings ratio of 10.83 and a beta of 1.24. American Express has a one year low of $50.27 and a one year high of $77.61.
The business also recently declared a quarterly dividend, which will be paid on Thursday, November 10th. Stockholders of record on Friday, October 7th will be given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.09%. This is a boost from American Express’s previous quarterly dividend of $0.29. The ex-dividend date is Wednesday, October 5th. American Express’s dividend payout ratio is presently 22.54%.
Several equities analysts recently issued reports on the company. Vetr raised American Express from a “strong sell” rating to a “sell” rating and set a $57.00 price objective for the company in a report on Tuesday. Evercore ISI reissued a “hold” rating on shares of American Express in a report on Saturday. Nomura cut American Express from a “neutral” rating to a “reduce” rating and cut their price target for the stock from $62.00 to $56.00 in a report on Thursday, October 6th. Credit Suisse Group AG reissued a “sell” rating and issued a $62.00 price target on shares of American Express in a report on Friday, September 16th. Finally, Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $74.00 price target on shares of American Express in a report on Monday, September 12th. Nine research analysts have rated the stock with a sell rating, nineteen have issued a hold rating and seven have assigned a buy rating to the company’s stock. American Express presently has an average rating of “Hold” and an average price target of $68.04.
Institutional investors have recently bought and sold shares of the company. Mycio Wealth Partners LLC increased its position in American Express by 4.1% in the second quarter. Mycio Wealth Partners LLC now owns 1,638 shares of the payment services company’s stock valued at $100,000 after buying an additional 65 shares during the last quarter. Blume Capital Management Inc. increased its position in American Express by 15.5% in the second quarter. Blume Capital Management Inc. now owns 1,733 shares of the payment services company’s stock valued at $105,000 after buying an additional 233 shares during the last quarter. Cantab Capital Partners LLP acquired a new position in American Express during the second quarter valued at approximately $204,000. Segall Bryant & Hamill LLC increased its position in American Express by 2.3% in the second quarter. Segall Bryant & Hamill LLC now owns 3,701 shares of the payment services company’s stock valued at $225,000 after buying an additional 84 shares during the last quarter. Finally, Lebenthal Wealth Advisors LLC acquired a new position in American Express during the second quarter valued at approximately $264,000. 82.03% of the stock is currently owned by hedge funds and other institutional investors.
American Express Company Profile
American Express Company is a services company. The Company’s principal products and services are charge and credit payment card products, and travel-related services offered to consumers and businesses around the world. The Company’s segments include U.S. Consumer Services (USCS), International Consumer and Network Services (ICNS), Global Commercial Services (GCS) and Global Merchant Services (GMS).
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