Banking, finance, and taxes
What Analysts Are Saying About American Express After Earnings

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American Express Co. (NYSE: AXP) released its first-quarter earnings report after the markets closed on Wednesday. A fair number of analysts were impressed by these results and decided to weigh in on the stock. Looking back in 2016, this stock was one of the worst performers in the Dow, so these earnings beg the question of whether Amex has hit a turning point.
24/7 Wall St. has included an analyst montage detailing how they view this stock after earnings to give a panorama view of where this stock may be headed.
The credit card giant said it had $1.45 in earnings per share (EPS) on $8.09 billion in revenue. The Thomson Reuters consensus estimates had called for $1.35 in EPS on revenue of $7.99 billion. In the same period of last year, Amex posted EPS of $1.48 and $7.95 billion in revenue.
Amex reported the following segment results for the first quarter:
Kenneth I. Chenault, chairman and CEO of Amex, commented:
First quarter results were in line with the financial outlook we provided last month at our Investor Day. Despite strong competition throughout the payments industry, we generated a 4% increase in FX-adjusted revenues. Those revenues reflected strong, underlying growth in our lending portfolio, along with higher Card Member spending and fee income. Our 6 percent rise in Card Member spending was partially offset by a lower merchant discount rate and the higher costs associated with cash back rewards.
A few analysts weighed in on Amex after the company reported earnings:
Shares of Amex closed Friday at $65.93, with a consensus analyst price target of $66.13 and a 52-week trading range of $50.27 to $81.92.
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