$10.54 Billion in Sales Expected for American Express (NYSE:AXP) This Quarter

Wall Street brokerages expect American Express (NYSE:AXP) to announce sales of $10.54 billion for the current quarter, according to Zacks. Seven analysts have made estimates for American Express’ earnings. The highest sales estimate is $10.97 billion and the lowest is $10.18 billion. American Express posted sales of $8.75 billion during the same quarter last year, which indicates a positive year-over-year growth rate of 20.5%. The firm is expected to issue its next earnings report before the market opens on Friday, October 22nd.

According to Zacks, analysts expect that American Express will report full year sales of $40.84 billion for the current financial year, with estimates ranging from $39.79 billion to $41.43 billion. For the next year, analysts expect that the business will report sales of $46.46 billion, with estimates ranging from $44.18 billion to $48.71 billion. Zacks’ sales calculations are a mean average based on a survey of analysts that cover American Express.

American Express (NYSE:AXP) last announced its earnings results on Thursday, July 22nd. The payment services company reported $2.80 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.64 by $1.16. The firm had revenue of $10.24 billion for the quarter, compared to analyst estimates of $9.59 billion. American Express had a net margin of 18.72% and a return on equity of 26.15%. American Express’s revenue was up 33.5% compared to the same quarter last year. During the same quarter last year, the business earned $0.29 earnings per share.

A number of brokerages have weighed in on AXP. Barclays lifted their price target on shares of American Express from $166.00 to $168.00 and gave the company an “equal weight” rating in a report on Monday. began coverage on American Express in a research note on Friday, July 9th. They set a “hold” rating and a $183.00 price target for the company. Stephens reaffirmed an “equal weight” rating and issued a $173.00 price objective (up from $158.00) on shares of American Express in a research note on Monday, July 26th. Morgan Stanley decreased their target price on American Express from $200.00 to $195.00 and set an “overweight” rating for the company in a report on Thursday, September 16th. Finally, Seaport Global Securities started coverage on shares of American Express in a report on Monday, August 30th. They issued a “neutral” rating on the stock. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, American Express presently has an average rating of “Hold” and a consensus price target of $171.75.

In related news, insider Marc D. Gordon sold 13,424 shares of the stock in a transaction dated Friday, September 10th. The shares were sold at an average price of $159.24, for a total value of $2,137,637.76. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Jeffrey C. Campbell sold 74,677 shares of the company’s stock in a transaction dated Monday, August 2nd. The stock was sold at an average price of $170.48, for a total transaction of $12,730,934.96. The disclosure for this sale can be found here. Insiders own 0.20% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the business. Jackson Grant Investment Advisers Inc. increased its position in shares of American Express by 111.1% during the 3rd quarter. Jackson Grant Investment Advisers Inc. now owns 190 shares of the payment services company’s stock valued at $32,000 after purchasing an additional 100 shares during the period. Cowen Prime Advisors LLC bought a new position in American Express during the second quarter valued at about $33,000. Newbridge Financial Services Group Inc. grew its holdings in American Express by 99.0% during the second quarter. Newbridge Financial Services Group Inc. now owns 201 shares of the payment services company’s stock worth $33,000 after acquiring an additional 100 shares during the period. Baldrige Asset Management LLC bought a new stake in American Express in the second quarter worth about $39,000. Finally, Hillsdale Investment Management Inc. bought a new stake in American Express in the second quarter worth about $50,000. 84.62% of the stock is currently owned by hedge funds and other institutional investors.

NYSE AXP traded up $2.04 during trading hours on Monday, hitting $170.76. 126,267 shares of the company’s stock were exchanged, compared to its average volume of 3,512,929. The business’s 50 day moving average is $166.63 and its 200-day moving average is $162.16. The company has a debt-to-equity ratio of 1.46, a quick ratio of 1.58 and a current ratio of 1.58. American Express has a 12-month low of $89.11 and a 12-month high of $179.67. The firm has a market capitalization of $135.66 billion, a P/E ratio of 19.62, a price-to-earnings-growth ratio of 0.90 and a beta of 1.28.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 10th. Investors of record on Friday, October 8th will be paid a dividend of $0.43 per share. The ex-dividend date of this dividend is Thursday, October 7th. This represents a $1.72 annualized dividend and a yield of 1.01%. American Express’s dividend payout ratio (DPR) is 32.21%.

About American Express

American Express Co engages in the provision of charge and credit card products and travel-related services. It operates through the following segments: Global Consumer Services Group, Global Commercial Services, Global Merchant and Network Services, and Corporate and Other. The Global Consumer Services Group segment issues a wide range of proprietary consumer cards globally.

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