American Express (NYSE:AXP) Expected to Post Quarterly Sales of $10.82 Billion

Equities research analysts expect American Express (NYSE:AXP) to post $10.82 billion in sales for the current fiscal quarter, according to Zacks. Seven analysts have provided estimates for American Express’ earnings, with estimates ranging from $10.75 billion to $10.91 billion. American Express posted sales of $10.00 billion in the same quarter last year, which would indicate a positive year-over-year growth rate of 8.2%. The firm is expected to announce its next quarterly earnings report on Wednesday, July 17th.

According to Zacks, analysts expect that American Express will report full-year sales of $43.59 billion for the current financial year, with estimates ranging from $43.36 billion to $43.90 billion. For the next financial year, analysts forecast that the firm will post sales of $47.06 billion, with estimates ranging from $46.08 billion to $48.12 billion. Zacks’ sales averages are an average based on a survey of sell-side analysts that that provide coverage for American Express.

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

AXP has been the subject of a number of recent analyst reports. ValuEngine raised shares of American Express from a “hold” rating to a “buy” rating in a report on Monday, May 20th. Stephens set a $131.00 price target on shares of American Express and gave the stock a “buy” rating in a report on Monday, May 20th. Oppenheimer set a $119.00 price target on shares of American Express and gave the stock a “buy” rating in a report on Wednesday, April 17th. Wells Fargo & Co reaffirmed a “buy” rating and set a $125.00 price target (up previously from $115.00) on shares of American Express in a report on Tuesday, March 12th. Finally, Morgan Stanley upped their price objective on shares of American Express from $113.00 to $123.00 and gave the stock an “equal weight” rating in a research report on Monday, April 22nd. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and eight have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $116.63.

In related news, Chairman Stephen J. Squeri sold 15,000 shares of the company’s stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $114.69, for a total transaction of $1,720,350.00. Following the completion of the transaction, the chairman now directly owns 214,815 shares in the company, valued at approximately $24,637,132.35. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Michael John O’neill sold 15,749 shares of the company’s stock in a transaction that occurred on Wednesday, April 24th. The stock was sold at an average price of $113.94, for a total transaction of $1,794,441.06. Following the transaction, the insider now owns 69,941 shares of the company’s stock, valued at $7,969,077.54. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 177,297 shares of company stock valued at $21,062,015. 0.21% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in AXP. Laurel Wealth Advisors Inc. increased its position in shares of American Express by 2.0% during the first quarter. Laurel Wealth Advisors Inc. now owns 4,192 shares of the payment services company’s stock worth $458,000 after buying an additional 84 shares during the period. Papp L Roy & Associates increased its position in shares of American Express by 1.3% during the first quarter. Papp L Roy & Associates now owns 6,750 shares of the payment services company’s stock worth $738,000 after buying an additional 86 shares during the period. Enterprise Financial Services Corp increased its position in shares of American Express by 24.8% during the first quarter. Enterprise Financial Services Corp now owns 473 shares of the payment services company’s stock worth $51,000 after buying an additional 94 shares during the period. Archford Capital Strategies LLC increased its position in shares of American Express by 6.1% during the first quarter. Archford Capital Strategies LLC now owns 1,677 shares of the payment services company’s stock worth $183,000 after buying an additional 96 shares during the period. Finally, Brandywine Oak Private Wealth LLC increased its position in shares of American Express by 3.8% during the first quarter. Brandywine Oak Private Wealth LLC now owns 2,654 shares of the payment services company’s stock worth $290,000 after buying an additional 97 shares during the period. Hedge funds and other institutional investors own 83.63% of the company’s stock.

Shares of American Express stock traded up $1.68 on Monday, reaching $121.11. 2,481,787 shares of the stock were exchanged, compared to its average volume of 2,804,336. American Express has a one year low of $89.05 and a one year high of $121.36. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 2.63. The company has a market cap of $101.14 billion, a PE ratio of 16.52, a price-to-earnings-growth ratio of 1.38 and a beta of 1.07.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 9th. Investors of record on Friday, July 5th will be given a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 1.29%. The ex-dividend date of this dividend is Wednesday, July 3rd. American Express’s dividend payout ratio is 21.28%.

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

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