101.90 +0.93 (0.92%)
Pre-Market: 8:40AM EST
|Bid||101.75 x 200|
|Ask||102.94 x 100|
|Day's Range||99.93 - 101.03|
|52 Week Range||75.39 - 101.65|
|PE Ratio (TTM)||19.56|
|Earnings Date||Jan 18, 2018|
|Forward Dividend & Yield||1.40 (1.39%)|
|1y Target Est||105.85|
American Express eased many concerns in 2017, but the company still has questions it must answer as the leadership at the top changes.
Earnings season picks up steam with more big banks reporting, while the auto sector will be in the spotlight again as the top U.S. car show begins.
American Express (AXP) had a great 2017, returning 36%. Many on the Street are upbeat about the stock in 2018, given the benefits of lower corporate taxes, which have been a boon for financial stocks, but others are concerned that the tax cuts may not be good news. JPMorgan's Richard Shane and Melissa Wedel are cautious as well, although for different reasons They cut their rating on the stock to Neutral from Overweight, removing their $105 price target, citing valuation as the main driver behind the call. As such, they also downgraded Ally Financial (ALLY) to Neutral, and cut OneMain Holdings (OMF) and Navient (NAVI) to Underweight.
The Zacks Analyst Blog Highlights: Schlumberger, American Express, BlackRock, Aflac and Deutsche Bank
Last year was a great one for American Express (AXP), which returned 36% in 2017. Many on the Street are upbeat about the stock in 2018, given the benefits of lower corporate taxes, which have been a boon for financial stocks. Because Instinet's Bill Carcache and his team are here to rain on the bullish parade.
Ripple is making huge waves right now, thanks to the booming popularity of the likes of bitcoin, Ethereum, and litecoin.
While charts of bitcoin are showing at least a medium-term top, advocates of cryptocurrency have a new reason for excitement in the sudden rise of Ripple. While bitcoin is designed to have a maximum of 21 million coins, there are nearly 39 billion Ripple coins in existence and the Ripple Foundation has authorized 100 billion. Critics of bitcoin say the cryptocurrency isn’t real, because it’s an encryption key.
The impacts of the tax act in the fourth quarter will reduce American Express' regulatory capital and capital ratios for the fourth quarter, the company said. In the long run, AmEx expects the lower corporate tax rate to be a significant benefit.
American Express Co. said it expects recently passed changes in U.S. tax laws will reduce fourth-quarter earnings by about $2.4 billion, resulting in a net loss for the period.
(Reuters) - Bitcoin was the star of the white-knuckle ride that cryptocurrencies offered in 2017 but lesser-known names, such as Ripple and Ethereum, are seen gaining prominence in 2018. While bitcoin ...
Card stocks are trading higher on Wednesday, following a bullish note from Deutsche Bank. Analyst Ashish Sabadra and his team initiated coverage on Discover Financial Services (DFS) and American Express (AXP) with Buy ratings, and also reiterated a Buy rating on Synchrony Financial (SYF).They write that lower tax rates should provide earnings upside, benefitting Discover and Synchrony the most, given that they generate 100% of their profits domestically. Sabadra writes that the card companies benefit from tax-related cyclical tailwinds, and their strategy to shift toward consumers with higher credit quality should help to offset increases in net-charge offs.
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Ripple CEO Brad Garlinghouse discusses what to expect from the cryptocurrency market and how his company may rival bitcoin.