Published: Fri, April 21, 2017
Money | By Oscar Reynolds

American Express Reports First Quarter EPS of $1.34


American Express Company (AXP) recently stated first-quarter net income of $1.2 billion, down 13 percent from $1.4 billion in the year-ago quarter, which included certain subsequently suspended cobrand partnerships. Share performance for the month is now at -3.79%. $3.48M worth of American Express Company (NYSE:AXP) shares were sold by Buckminster Douglas E. Sobbott Susan sold $1.35 million worth of stock or 19,186 shares. This is an increase of 418% compared to the average daily volume of 4,154 put options. Veritas Asset Management LLP boosted its position in shares of American Express Company by 9.8% in the second quarter. Reservoir Operations L.P. owns 183,210 shares or 3.2% of their USA portfolio. Capital Guardian Trust Co. raised its position in American Express Company by 23.6% in the fourth quarter.

Several other hedge funds have also recently bought and sold shares of the company. American Express Company (NYSE:AXP) has risen 17.39% since September 13, 2016 and is uptrending. The company's 50 day moving average price is $78.41 and its 200-day moving average price is $73.97. Gupta Ashwini also sold $10.55 million worth of American Express Company (NYSE:AXP) on Monday, November 14. The payment services company reported $0.91 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.98 by $0.07. The firm earned $7.89 billion during the quarter, compared to the consensus estimate of $7.76 billion.

Revenue during the quarter dropped 4.42 percent to $7,316 million from $7,654 million in the previous year period. Diluted earnings per share was $1.34, down 8 percent from $1.45 a year ago. Equities analysts expect that American Express Company will post $5.64 EPS for the current fiscal year. Investors of record on Friday, January 6th were paid a dividend of $0.32 per share. The ex-dividend date is Wednesday, April 5th. This represents a $1.28 dividend on an annualized basis and a yield of 1.69%. American Express Company's dividend payout ratio is presently 22.74%. The most recent changes to Platinum, however, have yet to be borne out in the results, as those incentives would have just taken effect at the end of 1Q17.

American Express reiterated its guidance for the rest of the year, guiding for earnings per share between $5.60 and $5.80 in 2017. The stock of First Financial Bancorp (NASDAQ:FFBC) earned "Hold" rating by Sandler O'Neill on Thursday, March 10. Analysts giving shares a rating of 1 or 2 would be indicating a Buy. Keefe Bruyette & Woods upgraded the stock to "Outperform" rating in Monday, January 25 report. Seven research analysts have rated the stock with a sell rating, thirteen have given a hold rating and eleven have given a buy rating to the company's stock.

American Express Company (NYSE:AXP) opened at 75.55 on Thursday. The stock's 52-week range is $11.01 - $17.95. The ATR (Average True Range) value is 1. Following the completion of the sale, the insider now owns 52,903 shares in the company, valued at approximately $3,824,886.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Following the transaction, the insider now owns 54,954 shares in the company, valued at approximately $4,286,961.54.

American Express acquired 2.6 million new card users globally and "card member spending grew 8%". The Company's principal products and services are charge and credit payment card products, and travel-related services 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 USA and in key markets internationally", said Kenneth I. Chenault, chairman and chief executive officer.

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