Zacks: Analysts Expect American Express (NYSE:AXP) Will Announce Quarterly Sales of $10.99 Billion

Wall Street analysts expect that American Express (NYSE:AXP) will announce sales of $10.99 billion for the current fiscal quarter, Zacks Investment Research reports. Eight analysts have provided estimates for American Express’ earnings. The lowest sales estimate is $10.86 billion and the highest is $11.08 billion. American Express reported sales of $10.14 billion during the same quarter last year, which would suggest a positive year over year growth rate of 8.4%. The business is scheduled to report its next earnings report on Thursday, October 17th.

On average, analysts expect that American Express will report full year sales of $43.65 billion for the current fiscal year, with estimates ranging from $43.39 billion to $43.78 billion. For the next financial year, analysts forecast that the firm will report sales of $47.15 billion, with estimates ranging from $46.04 billion to $47.98 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for American Express.

American Express (NYSE:AXP) last announced its quarterly earnings data on Friday, July 19th. The payment services company reported $2.07 EPS for the quarter, beating analysts’ consensus estimates of $2.05 by $0.02. The company had revenue of $10.84 billion during the quarter, compared to the consensus estimate of $10.82 billion. American Express had a return on equity of 29.75% and a net margin of 16.60%. The company’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.84 EPS.



A number of equities research analysts have issued reports on the stock. Jefferies Financial Group set a $130.00 price target on shares of American Express and gave the company a “hold” rating in a report on Friday, July 19th. Bank of America started coverage on shares of American Express in a research note on Wednesday, June 19th. They issued a “buy” rating and a $145.00 target price for the company. JPMorgan Chase & Co. reduced their target price on shares of American Express from $135.00 to $132.00 and set a “neutral” rating for the company in a research note on Monday, July 22nd. Stephens set a $131.00 target price on shares of American Express and gave the company a “buy” rating in a research note on Monday, May 20th. Finally, BMO Capital Markets increased their target price on shares of American Express to $119.00 and gave the company a “market perform” rating in a research note on Monday, July 22nd. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and nine have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $124.49.

In related news, CFO Jeffrey C. Campbell sold 7,045 shares of the firm’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $124.91, for a total value of $879,990.95. Following the completion of the sale, the chief financial officer now directly owns 59,620 shares in the company, valued at $7,447,134.20. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Jeffrey C. Campbell sold 6,500 shares of the firm’s stock in a transaction on Monday, June 10th. The stock was sold at an average price of $122.93, for a total value of $799,045.00. Following the completion of the sale, the chief financial officer now owns 68,379 shares of the company’s stock, valued at $8,405,830.47. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 190,548 shares of company stock valued at $22,910,322. 0.21% of the stock is owned by corporate insiders.

A number of hedge funds have recently added to or reduced their stakes in the business. Camarda Financial Advisors LLC acquired a new stake in shares of American Express during the 1st quarter valued at $26,000. Creative Financial Designs Inc. ADV bought a new stake in shares of American Express during the 1st quarter worth approximately $28,000. HMS Capital Management LLC bought a new stake in shares of American Express during the 2nd quarter worth approximately $37,000. Edge Wealth Management LLC lifted its holdings in shares of American Express by 140.3% during the 2nd quarter. Edge Wealth Management LLC now owns 370 shares of the payment services company’s stock worth $46,000 after acquiring an additional 216 shares during the period. Finally, Virtus ETF Advisers LLC bought a new stake in shares of American Express during the 2nd quarter worth approximately $48,000. Institutional investors and hedge funds own 84.26% of the company’s stock.

NYSE:AXP traded down $0.27 during trading hours on Friday, reaching $122.38. The company’s stock had a trading volume of 2,965,417 shares, compared to its average volume of 3,376,152. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 2.50. American Express has a one year low of $89.05 and a one year high of $129.34. The business has a 50-day moving average of $125.57. The company has a market cap of $102.84 billion, a P/E ratio of 16.70, a price-to-earnings-growth ratio of 1.39 and a beta of 1.05.

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 three segments: Global Consumer Services Group, Global Commercial Services, and Global Merchant and Network Services.

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Earnings History and Estimates for American Express (NYSE:AXP)

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