American Express stock dips as earnings miss target

Kenneth Chenault, American Express chairman and CEO (chief executive officer), noted in an October 21, 2015, press release, “While overall results were in line with our 2015 financial outlook, the quarter reflected the headwinds and challenges that we have been dealing with throughout this year”. Revenue of $8.193B down 1%.

Wall Street analysts projecting future stock price targets have a mean estimate of $22.5.

AXP has been the topic of several other research reports.

American Express (AXP – Get Report) topped out late a year ago in November and December and has remained a downward drag on the Dow Jones Industrial Average.

General Motors Company (NYSE:GM) traded 37.01 Million shares and its share price increased 5.79% to close at $35.42. The stock now has a 50-day SMA of $n/a and 200-day SMA of $n/a, and it has a high of $94.89 and low of $71.71 over the past year.

Oppenheimer has a very low rating of Underperform on American Express. The California-based fund Focused Investors Llc revealed it had acquired so far a stake worth about 6.28% of the active investment manager’s stock portfolio in American Express Company.

American Express Company (NYSE:AXP) traded up 0.06% on Wednesday, reaching $77.26.

The firm has a market capitalization of $72.59 billion and a price-to-earnings ratio of 12.74.

“We still think the stock is cheap (and therefore maintain our “outperform” rating), but unfortunately the stock becomes an even greater show-me story and that will only unfold as the company executes, ” he wrote.

Out of 24 analysts covering American Express Company, 14 rate it a Buy, 11 indicate a Hold while 5 suggest a Sell.

Since May 4, 2015, the stock had 0 insider buys, and 5 sales for $115.84 million net activity. The ex-dividend date is Wednesday, October 7th. The targets taken into consideration range from $68 on the low end to $98 on the bullish end. The Company’s sections include U.S. Card Services, worldwide Card Services, Global Commercial Services and Global Network & Merchant Services.

Expenses proved to be the doing of the September period, offsetting at least a few growth in USA card spending (a measure itself offset by a slide outside the US, which was hit by the dollar). The main products and services of the Firm are credit payment card products and charge, and travel-related services offered to businesses and consumers around the world. The Firm’s United States banking subsidiaries, Centurion Bank and AEBFSB, issue an assortment of Card products. It also issues its bill and credit Cards around the world either on its own or as cobrands with partnering institutions.

Global Network & Merchant Services reported third-quarter net income of $462 million, up 8 percent from $427 million a year ago.