Today, Analysts Issue Forecasts for American Express Co.’s Q4 2016 Earnings (AXP)

Today, Analysts Issue Forecasts for American Express Co.’s Q4 2016 Earnings (AXP)

American Express Co. (NYSE:AXP) – Research analysts at DA Davidson cut their Q4 2016 EPS estimates for American Express in a note issued to investors on Thursday. DA Davidson analyst A. Cyganovich now forecasts that the brokerage will post earnings of $0.97 per share for the quarter, down from their prior forecast of $1.03. DA Davidson currently has a “Neutral” rating and a $66.00 target price on the stock. DA Davidson also issued estimates for American Express’ Q1 2017 earnings at $1.26 EPS, Q2 2017 earnings at $1.40 EPS, Q1 2018 earnings at $1.40 EPS, Q2 2018 earnings at $1.57 EPS, Q3 2018 earnings at $1.61 EPS and FY2018 earnings at $6.27 EPS.

AXP has been the topic of several other reports. Credit Suisse Group AG restated a “sell” rating and issued a $62.00 target price on shares of American Express in a research note on Thursday, July 14th. Vetr lowered American Express from a “strong-buy” rating to a “buy” rating and set a $67.47 target price on the stock. in a research note on Monday, July 11th. Nomura lowered American Express from a “neutral” rating to a “reduce” rating and lowered their target price for the company from $62.00 to $56.00 in a research note on Thursday, October 6th. BMO Capital Markets assumed coverage on American Express in a research note on Thursday, July 21st. They issued a “hold” rating and a $73.00 target price on the stock. Finally, Evercore ISI restated a “hold” rating on shares of American Express in a research note on Saturday. Nine equities research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and seven have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $67.88.

Shares of American Express (NYSE:AXP) opened at 59.90 on Monday. The firm has a market capitalization of $55.33 billion, a price-to-earnings ratio of 10.60 and a beta of 1.24. American Express has a 1-year low of $50.27 and a 1-year high of $77.61. The company has a 50-day moving average price of $63.73 and a 200 day moving average price of $63.64.

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 10th. Stockholders of record on Friday, October 7th will be issued a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 2.14%. This is a boost from American Express’s previous quarterly dividend of $0.29. The ex-dividend date of this dividend is Wednesday, October 5th. American Express’s payout ratio is 22.54%.

Several large investors have recently modified their holdings of AXP. Mycio Wealth Partners LLC boosted its stake in shares of American Express by 4.1% in the second quarter. Mycio Wealth Partners LLC now owns 1,638 shares of the payment services company’s stock valued at $100,000 after buying an additional 65 shares during the period. Blume Capital Management Inc. raised its position in American Express by 15.5% in the second quarter. Blume Capital Management Inc. now owns 1,733 shares of the payment services company’s stock valued at $105,000 after buying an additional 233 shares in the last quarter. Capital Analysts LLC raised its position in American Express by 84.0% in the second quarter. Capital Analysts LLC now owns 2,631 shares of the payment services company’s stock valued at $107,000 after buying an additional 1,201 shares in the last quarter. Feltz Wealth PLAN Inc. bought a new position in American Express during the second quarter valued at approximately $112,000. Finally, Meeder Asset Management Inc. bought a new position in American Express during the first quarter valued at approximately $133,000. 82.03% of the stock is currently owned by hedge funds and other institutional investors.

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