Oppenheimer Comments on American Express’ Q4 2022 Earnings (NYSE:AXP)

American Express (NYSE:AXP – Get Rating) – Oppenheimer increased their Q4 2022 earnings per share estimates for shares of American Express in a report issued on Tuesday, January 10th. Oppenheimer analyst D. Gabriele now forecasts that the payment services company will post earnings of $2.04 per share for the quarter, up from their previous forecast of $1.92. The consensus estimate for American Express’ current full-year earnings is $9.96 per share. Oppenheimer also issued estimates for American Express’ Q1 2023 earnings at $3.10 EPS, Q2 2023 earnings at $2.87 EPS, Q3 2023 earnings at $2.73 EPS, Q4 2023 earnings at $2.27 EPS, FY2023 earnings at $10.98 EPS and FY2024 earnings at $11.43 EPS.

American Express (NYSE:AXP – Get Rating) last announced its quarterly earnings data on Friday, October 21st. The payment services company reported $2.47 earnings per share for the quarter, beating analysts’ consensus estimates of $2.42 by $0.05. American Express had a return on equity of 33.28% and a net margin of 15.02%. The company had revenue of $13.56 billion for the quarter, compared to analyst estimates of $13.58 billion. During the same quarter in the previous year, the company earned $2.27 EPS. The firm’s revenue for the quarter was up 24.0% compared to the same quarter last year.

A number of other equities research analysts have also weighed in on the company. Credit Suisse Group lowered their price objective on American Express to $135.00 in a report on Thursday, October 13th. JPMorgan Chase & Co. decreased their price target on American Express from $170.00 to $166.00 in a research note on Tuesday. Redburn Partners began coverage on American Express in a research note on Tuesday, November 29th. They set a “neutral” rating on the stock. UBS Group began coverage on American Express in a research note on Monday, November 21st. They set a “neutral” rating and a $168.00 price target on the stock. Finally, Morgan Stanley decreased their price target on American Express from $154.00 to $148.00 and set an “equal weight” rating on the stock in a research note on Thursday, December 1st. Three investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, American Express currently has an average rating of “Hold” and an average target price of $170.74.

American Express Price Performance

Shares of AXP opened at $154.92 on Thursday. American Express has a twelve month low of $130.65 and a twelve month high of $199.55. The stock’s 50 day moving average is $151.25 and its two-hundred day moving average is $149.52. The firm has a market capitalization of $115.76 billion, a PE ratio of 15.57, a P/E/G ratio of 1.17 and a beta of 1.14. The company has a current ratio of 1.61, a quick ratio of 1.61 and a debt-to-equity ratio of 1.77.

American Express Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 10th. Shareholders of record on Friday, January 6th will be issued a $0.52 dividend. The ex-dividend date is Thursday, January 5th. This represents a $2.08 annualized dividend and a yield of 1.34%. American Express’s dividend payout ratio (DPR) is presently 20.90%.

Insider Buying and Selling at American Express

In other American Express news, Director Walter Joseph Clayton III purchased 1,000 shares of the business’s stock in a transaction on Tuesday, November 8th. The stock was bought at an average cost of $149.27 per share, for a total transaction of $149,270.00. Following the acquisition, the director now owns 1,000 shares of the company’s stock, valued at approximately $149,270. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Vice Chairman Douglas E. Buckminster sold 16,354 shares of the company’s stock in a transaction on Tuesday, December 6th. The stock was sold at an average price of $154.23, for a total transaction of $2,522,277.42. Following the completion of the sale, the insider now directly owns 99,024 shares in the company, valued at approximately $15,272,471.52. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Walter Joseph Clayton III acquired 1,000 shares of the company’s stock in a transaction dated Tuesday, November 8th. The shares were purchased at an average price of $149.27 per share, with a total value of $149,270.00. Following the completion of the acquisition, the director now owns 1,000 shares in the company, valued at $149,270. The disclosure for this purchase can be found here. 0.11% of the stock is currently owned by insiders.

Institutional Trading of American Express

A number of institutional investors have recently added to or reduced their stakes in AXP. Renaissance Technologies LLC boosted its position in American Express by 5,063.5% during the 2nd quarter. Renaissance Technologies LLC now owns 2,690,194 shares of the payment services company’s stock worth $372,915,000 after purchasing an additional 2,638,094 shares during the period. Price T Rowe Associates Inc. MD boosted its position in American Express by 79.6% during the 3rd quarter. Price T Rowe Associates Inc. MD now owns 2,713,458 shares of the payment services company’s stock worth $366,073,000 after purchasing an additional 1,202,912 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its position in American Express by 16.4% during the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 4,807,168 shares of the payment services company’s stock worth $666,377,000 after purchasing an additional 675,971 shares during the period. BlackRock Inc. boosted its position in American Express by 1.5% during the 3rd quarter. BlackRock Inc. now owns 44,553,661 shares of the payment services company’s stock worth $6,010,732,000 after purchasing an additional 665,857 shares during the period. Finally, Barclays PLC boosted its position in American Express by 42.5% during the 3rd quarter. Barclays PLC now owns 2,110,826 shares of the payment services company’s stock worth $284,769,000 after purchasing an additional 629,960 shares during the period. 83.30% of the stock is owned by hedge funds and other institutional investors.

American Express Company Profile

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American Express Company, together with its subsidiaries, provides charge and credit payment card products, and travel-related services worldwide. The company operates through three segments: Global Consumer Services Group, Global Commercial Services, and Global Merchant and Network Services. Its products and services include payment and financing products; network services; accounts payable expense management products and services; and travel and lifestyle services.