American Express (AXP) Q1 Earnings Beat, 2017 View Intact

American Express (AXP) Q1 Earnings Beat, 2017 View Intact

In terms of performance, year to date, the stock is 2.84%.

AXP shares are on the rise this morning after the company posted a solid first-quarter result. Share performance for the month is now at -3.79%. The company has market cap of $529.29 million. Veritas Asset Management LLP boosted its position in shares of American Express Company by 9.8% in the second quarter. Capital Guardian Trust Co. raised its position in American Express Company by 23.6% in the fourth quarter. Hedge funds and other institutional investors own 81.71% of the company's stock.

Recent session action on shares of American Express Company (NYSE:AXP) puts the stock on today's active list. The fund acquired 988,725 shares of the payment services company's stock, valued at approximately $73,047,000. Since the open, shares have moved 2.85% after recently hitting the $79.71 mark. Bessemer Gru owns 1 shares. The stock, after opening at $7.37, closed at $7.27 by scoring 1.96%.

In taking a look at technical levels, shares are trading -1.45% away from the 50 day simple moving average and 9.81% away from the 200 day simple moving average.

First-quarter merged total revenues net of interest expense were $7.9 billion, down 2 percent from $8.1 billion a year ago. The company had revenue of $8 billion for the quarter, compared to the consensus estimate of $7.92 billion.

Notably, excluding Costco-related business and the effect of foreign exchange rates owing to the impact of a stronger US dollar on worldwide operations during the quarter, adjusted revenues climbed 7% driven by higher adjusted Card Member spending and adjusted net interest income. The stock has earnings growth of -1.60% yoy and showed a high EPS growth of 6.70% over the past five years. Equities research analysts predict that American Express Company will post $5.66 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 10th. The company was downgraded on Wednesday, January 13 by Goldman Sachs. This represents a $1.28 dividend on an annualized basis and a yield of 1.69%. American Express Company's payout ratio is 22.74%. Since this has historically been one of the biggest revenue sources for the company and was affected the most by the loss of the deals with Costco and Jet Blue airways, the company needs to find a way of growing these numbers again. Cox L Kevin also sold $4.26M worth of American Express Company (NYSE:AXP) shares. Analysts anticipated $1.28 a share in earnings on sales of roughly $7.7 billion. The firm earned "Buy" rating on Monday, August 10 by Maxim Group. The stock of American Express Company (NYSE:AXP) earned "Buy" rating by Janney Capital on Thursday, September 17. If the $85.86 price target is reached, the company will be worth $5.71 billion more. The stock is now at a level that we consider to be in the middle of its trading range already. The shares were sold at an average price of $78.01, for a total transaction of $6,007,238.06. Overbrook Management Corp holds 0.56% in American Express Company (NYSE:AXP) or 34,650 shares. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Following the transaction, the insider now owns 54,954 shares in the company, valued at approximately $4,286,961.54.

American Express Company is a services company. The Company's principal products and services are charge and credit card products, and travel-related services, which are offered to consumers and businesses around the world.

"Our first quarter performance marks a good start to the year with momentum in the consumer and commercial businesses in the US and in key markets internationally", said Kenneth I. Chenault, chairman and chief executive officer.

Related Articles

  • United States orders review of lifting Iran sanctions

    "I think the key is what comes next", one senior White House official familiar with the interagency review told the Free Beacon . But his predecessor Barack Obama insisted the deal was the best way to prevent Iran from building nuclear weapons.

    Pakistan court to decide on accusations against PM's family

    Tehreek-e-Insaaf chief Imran Khan had filed a petition about the illegal assets held by Mr Sharif and his family in London. The prime minister himself followed the proceedings with his family and senior party officials from his residence.

    Conservatives stymied by latest Arkansas execution setback

    The inmates claim in their request Wednesday that such a compressed schedule "is contrary to the evolving standards of decency". Supreme Court asking for a review of a federal judge's stay that was later overturned by the 8th Circuit Court of Appeals.
  • ISIS denies suffering casualties from huge US bomb in Afghanistan

    ISIS denies suffering casualties from huge US bomb in Afghanistan

    The Afghan Defense Ministry said 36 militants were killed, though local officials and residents put the number much higher. Nangarhar police said that the bombing destroyed Daesh hideouts, tunnels and weapon caches.

    European Union says Brexit talks will start after British election

    Theresa May said that Jeremy Corbyn was not fit to lead, but faced criticism over her refusal to take part in TV debates. The economic impact of the announcement also makes for good news for those Taiwanese companies selling to the UK.
    Security Thwarts Boko Haram Plans to Attack Embassies

    Security Thwarts Boko Haram Plans to Attack Embassies

    It's not clear that all of the children who have carried out attacks are cognizant of what they were doing, the report states. In 2015, Boko Haram pledged its allegiance to IS, thus expanding its attacks into neighboring Niger, Cameroon and Chad.
  • What happened before man was dragged from United flight

    What happened before man was dragged from United flight

    But his lawyers filed an emergency petition on Wednesday asking that all potential evidence from the episode be preserved. Despite initially saying Dao was " disruptive and belligerent ", Munoz added that he certainly "deserved an apology".

    Manchester United partners with the new Facebook augmented reality developer platform

    Facebook isn't the only corporation getting in on these new developments, but it's definitely the one investing the most into it. Facebook says that the Camera Effects Platform includes two products: Frames Studio and AR Studio .
    Turns away 54 shots in Game 2 loss

    Turns away 54 shots in Game 2 loss

    In Montreal, Alexander Radulov scored 18:34 into overtime to complete the Canadiens' comeback in a 4-3 win over the Rangers . The Rangers started strong in Game 4 but their first goal was the result of a fortunate bounce on a seemingly harmless play.
  • Trump calls Canada's dairy trade policies a 'disgrace'

    In Canada, through supply management, quotas for milk are set for producers and demand is met with little surplus. The president then broke from a prepared statement to attack Canada's dairy, energy and lumber industries.
    Jon Ossoff Landslide Reinforces Resistance to Trump — Triumph in Georgia

    Jon Ossoff Landslide Reinforces Resistance to Trump — Triumph in Georgia

    Republicans are bidding to prevent a major upset in a conservative Georgia congressional district Tuesday wh. Heading into Tuesday, 18 candidates were competing - 11 Republicans, five Democrats and two independents.
    Celts top Nets, lead East with one game left

    Celts top Nets, lead East with one game left

    The Chicago Bulls are averaging 102.9 points on 44.4 percent shooting and allowing 102.4 points on 45.6 percent shooting. When you're a 53-win team and the top seed, you're no longer a fun little story. "I feel very strong about this group".