American Express (NYSE:AXP) – Stock analysts at Jefferies Financial Group lifted their FY2021 earnings estimates for American Express in a research report issued on Monday, October 11th. Jefferies Financial Group analyst J. Hecht now forecasts that the payment services company will post earnings of $8.80 per share for the year, up from their prior estimate of $8.29. Jefferies Financial Group also issued estimates for American Express’ Q3 2022 earnings at $2.14 EPS.
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, beating the consensus estimate of $1.64 by $1.16. American Express had a return on equity of 26.15% and a net margin of 18.72%. The firm had revenue of $10.24 billion during the quarter, compared to analyst estimates of $9.59 billion. During the same period last year, the firm posted $0.29 EPS. The business’s revenue was up 33.5% compared to the same quarter last year.
Shares of American Express stock opened at $168.72 on Tuesday. American Express has a 1 year low of $89.11 and a 1 year high of $179.67. The firm has a market cap of $134.04 billion, a PE ratio of 19.62, a P/E/G ratio of 0.90 and a beta of 1.28. The stock has a fifty day moving average price of $166.61 and a 200-day moving average price of $162.11. The company has a debt-to-equity ratio of 1.46, a current ratio of 1.58 and a quick ratio of 1.58.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 10th. Shareholders of record on Friday, October 8th will be issued a $0.43 dividend. This represents a $1.72 annualized dividend and a yield of 1.02%. The ex-dividend date of this dividend is Thursday, October 7th. American Express’s dividend payout ratio (DPR) is 32.21%.
In other American Express news, CFO Jeffrey C. Campbell sold 74,677 shares of the business’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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Marc D. Gordon sold 13,424 shares of the business’s 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 disclosure for this sale can be found here. Insiders own 0.20% of the company’s stock.
Large investors have recently added to or reduced their stakes in the business. Jackson Grant Investment Advisers Inc. grew its holdings in American Express by 111.1% during the third 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 shares of American Express in the second quarter worth about $33,000. Newbridge Financial Services Group Inc. boosted its stake in shares of American Express by 99.0% in 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 position in shares of American Express in the second quarter worth about $39,000. Finally, Hillsdale Investment Management Inc. bought a new position in shares of American Express in the second quarter worth about $50,000. 84.62% of the stock is owned by institutional investors and hedge funds.
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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