American Express Company to Post Q2 2018 Earnings of $1.91 Per Share, Oppenheimer Forecasts (AXP)

American Express Company (NYSE:AXP) – Investment analysts at Oppenheimer issued their Q2 2018 earnings per share (EPS) estimates for shares of American Express in a report issued on Tuesday. Oppenheimer analyst B. Chittenden expects that the payment services company will post earnings of $1.91 per share for the quarter. Oppenheimer currently has a “Buy” rating and a $99.00 target price on the stock. Oppenheimer also issued estimates for American Express’ Q3 2018 earnings at $1.93 EPS, Q4 2018 earnings at $1.98 EPS, FY2018 earnings at $7.54 EPS and FY2019 earnings at $8.01 EPS.

American Express (NYSE:AXP) last announced its quarterly earnings results on Wednesday, October 18th. The payment services company reported $1.50 earnings per share for the quarter, beating analysts’ consensus estimates of $1.47 by $0.03. American Express had a net margin of 14.48% and a return on equity of 22.73%. The business had revenue of $8.44 billion during the quarter, compared to analysts’ expectations of $8.31 billion. During the same period last year, the business earned $1.24 earnings per share. The business’s revenue for the quarter was up 8.5% on a year-over-year basis.

Other analysts also recently issued research reports about the stock. Bank of America boosted their price objective on shares of American Express from $102.00 to $106.00 and gave the stock a “buy” rating in a research report on Thursday, October 19th. Zacks Investment Research upgraded shares of American Express from a “hold” rating to a “buy” rating and set a $94.00 price objective for the company in a research report on Monday, September 11th. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $116.00 price target on shares of American Express in a research report on Friday, December 22nd. Deutsche Bank started coverage on shares of American Express in a research note on Tuesday. They issued a “buy” rating and a $118.00 price objective on the stock. Finally, Instinet started coverage on shares of American Express in a research note on Wednesday. They issued a “buy” rating and a $110.00 price objective on the stock. Two investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and fourteen have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $96.68.

Shares of American Express (NYSE AXP) traded down $0.15 during trading on Friday, reaching $100.70. 730,638 shares of the company were exchanged, compared to its average volume of 2,948,333. American Express has a one year low of $74.82 and a one year high of $101.65. The company has a quick ratio of 1.90, a current ratio of 1.90 and a debt-to-equity ratio of 2.31. The stock has a market capitalization of $87,460.00, a P/E ratio of 19.44, a P/E/G ratio of 1.49 and a beta of 1.22.

The company also recently announced a quarterly dividend, which will be paid on Friday, February 9th. Investors of record on Friday, January 5th will be issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 1.39%. The ex-dividend date of this dividend is Thursday, January 4th. American Express’s payout ratio is currently 27.03%.

In related news, CEO Kenneth I. Chenault sold 96,440 shares of American Express stock in a transaction dated Thursday, December 14th. The stock was sold at an average price of $97.30, for a total value of $9,383,612.00. Following the transaction, the chief executive officer now owns 1,178,333 shares of the company’s stock, valued at approximately $114,651,800.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider James Peter Bush sold 12,789 shares of American Express stock in a transaction dated Tuesday, January 2nd. The stock was sold at an average price of $99.45, for a total value of $1,271,866.05. Following the completion of the transaction, the insider now directly owns 92,504 shares in the company, valued at approximately $9,199,522.80. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 442,869 shares of company stock worth $42,823,869. 0.67% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Abner Herrman & Brock LLC increased its position in American Express by 17.5% in the 4th quarter. Abner Herrman & Brock LLC now owns 117,720 shares of the payment services company’s stock worth $11,691,000 after buying an additional 17,525 shares during the period. Parametric Portfolio Associates LLC increased its position in shares of American Express by 7.7% during the third quarter. Parametric Portfolio Associates LLC now owns 2,155,226 shares of the payment services company’s stock valued at $194,962,000 after purchasing an additional 154,228 shares during the period. Institutional & Family Asset Management LLC increased its position in shares of American Express by 58.5% during the third quarter. Institutional & Family Asset Management LLC now owns 6,439 shares of the payment services company’s stock valued at $582,000 after purchasing an additional 2,376 shares during the period. Steward Partners Investment Advisory LLC bought a new stake in shares of American Express during the third quarter valued at approximately $3,886,000. Finally, Visionary Asset Management Inc. bought a new stake in shares of American Express during the third quarter valued at approximately $230,000. 83.35% of the stock is currently owned by hedge funds and other institutional investors.

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About American Express

American Express Company, together with its subsidiaries, is a global services company. The Company’s principal products and services are charge and credit card products, and travel-related services, which are offered to consumers and businesses around the world. Its segments include the U.S. Consumer Services (USCS), International Consumer and Network Services (ICNS), Global Commercial Services (GCS) and Global Merchant Services (GMS).

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