American Express (AXP) to Issue Quarterly Dividend of $0.70 on November 8th

American Express (NYSE:AXP) announced a quarterly dividend on Tuesday, September 24th, Wall Street Journal reports. Investors of record on Friday, October 4th will be given a dividend of 0.70 per share by the payment services company on Friday, November 8th. This represents a $2.80 annualized dividend and a yield of 1.05%. The ex-dividend date of this dividend is Friday, October 4th.

American Express has increased its dividend payment by an average of 10.5% annually over the last three years. American Express has a payout ratio of 18.8% meaning its dividend is sufficiently covered by earnings. Equities analysts expect American Express to earn $14.90 per share next year, which means the company should continue to be able to cover its $2.80 annual dividend with an expected future payout ratio of 18.8%.

American Express Trading Down 0.0 %

Shares of NYSE AXP opened at $266.17 on Thursday. The business has a fifty day simple moving average of $249.90 and a 200-day simple moving average of $237.85. The company has a market cap of $189.22 billion, a price-to-earnings ratio of 21.93, a P/E/G ratio of 1.48 and a beta of 1.21. American Express has a 12 month low of $140.91 and a 12 month high of $272.41. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 1.74.

American Express (NYSE:AXP) last announced its earnings results on Friday, July 19th. The payment services company reported $3.49 EPS for the quarter, topping the consensus estimate of $3.26 by $0.23. The company had revenue of $16.33 billion during the quarter, compared to analysts’ expectations of $16.60 billion. American Express had a net margin of 15.53% and a return on equity of 32.94%. The business’s revenue for the quarter was up 9.2% on a year-over-year basis. During the same period last year, the company posted $2.89 earnings per share. Sell-side analysts predict that American Express will post 13.13 EPS for the current year.

Analysts Set New Price Targets

AXP has been the subject of several recent analyst reports. Keefe, Bruyette & Woods raised their target price on American Express from $265.00 to $280.00 and gave the stock an “outperform” rating in a research report on Monday, July 8th. Monness Crespi & Hardt raised their price objective on American Express from $260.00 to $265.00 and gave the stock a “buy” rating in a research report on Monday, July 22nd. Citigroup initiated coverage on American Express in a report on Monday, June 10th. They issued a “neutral” rating and a $250.00 target price on the stock. Bank of America lifted their target price on shares of American Express from $263.00 to $265.00 and gave the company a “neutral” rating in a research note on Tuesday, September 17th. Finally, William Blair reiterated an “outperform” rating on shares of American Express in a report on Monday, June 3rd. Three research analysts have rated the stock with a sell rating, thirteen have given a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $230.78.

American Express Company Profile

American Express Company, together with its subsidiaries, operates as integrated payments company in the United States, Europe, the Middle East and Africa, the Asia Pacific, Australia, New Zealand, Latin America, Canada, the Caribbean, and Internationally. It operates through four segments: U.S. Consumer Services, Commercial Services, International Card Services, and Global Merchant and Network Services.