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.
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
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.
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