American Express (AXP) Releases Quarterly Earnings Results, Beats Expectations By $0.11 EPS
American Express (NYSE:AXP) issued its quarterly earnings data on Thursday. The payment services company reported $1.88 earnings per share for the quarter, topping the consensus estimate of $1.77 by $0.11, RTT News reports. The business had revenue of $10.14 billion during the quarter, compared to the consensus estimate of $10.06 billion. American Express had a net margin of 9.51% and a return on equity of 32.01%. The company’s revenue was up 9.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.50 EPS. American Express updated its FY18 guidance to $7.30-7.40 EPS.
AXP stock opened at $106.73 on Friday. The firm has a market capitalization of $88.55 billion, a P/E ratio of 18.18, a price-to-earnings-growth ratio of 1.41 and a beta of 1.17. The company has a quick ratio of 1.92, a current ratio of 1.92 and a debt-to-equity ratio of 2.67. American Express has a 12 month low of $87.54 and a 12 month high of $111.77.
The firm also recently declared a quarterly dividend, which will be paid on Friday, November 9th. Investors of record on Friday, October 5th will be given a $0.39 dividend. This is an increase from American Express’s previous quarterly dividend of $0.35. The ex-dividend date is Thursday, October 4th. This represents a $1.56 annualized dividend and a yield of 1.46%. American Express’s dividend payout ratio is 26.58%.
In other American Express news, CEO Stephen J. Squeri sold 12,500 shares of the company’s stock in a transaction on Wednesday, August 1st. The shares were sold at an average price of $99.73, for a total transaction of $1,246,625.00. Following the completion of the transaction, the chief executive officer now owns 191,971 shares in the company, valued at approximately $19,145,267.83. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Marc D. Gordon sold 25,948 shares of the company’s stock in a transaction on Wednesday, September 12th. The stock was sold at an average price of $107.83, for a total transaction of $2,797,972.84. Following the transaction, the insider now owns 33,111 shares of the company’s stock, valued at approximately $3,570,359.13. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 47,448 shares of company stock valued at $4,942,168. 0.20% of the stock is owned by insiders.
AXP has been the subject of several recent analyst reports. Buckingham Research upgraded shares of American Express from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $111.00 to $112.00 in a research report on Friday, June 29th. Stephens set a $97.00 price objective on shares of American Express and gave the stock a “hold” rating in a research report on Friday, June 29th. Jefferies Financial Group restated a “hold” rating and set a $105.00 price objective on shares of American Express in a research report on Monday, July 16th. BMO Capital Markets boosted their price objective on shares of American Express from $103.00 to $106.00 and gave the stock a “market perform” rating in a research report on Thursday, July 19th. Finally, Oppenheimer set a $113.00 price objective on shares of American Express and gave the stock a “buy” rating in a research report on Wednesday, July 18th. One analyst has rated the stock with a sell rating, ten have given a hold rating and sixteen have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $111.31.
About American Express
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 four segments: U.S. Consumer Services, International Consumer and Network Services, Global Commercial Services, and Global Merchant Services.
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