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4 American Express Analysts Break Down Q2 Earnings<blockquote>4位美国运通分析师分析第二季度收益</blockquote>
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U.S. consumer spending is at 98% of pre-pandemic levels and is expected to continue to grow, said the analyst.</p><p><blockquote>德弗里斯表示，今年迄今为止，美国运通的信贷表现持续改善，该公司的信贷准备金和资本水平看起来将比同行更快地正常化。该分析师表示，美国消费者支出为疫情前水平的98%，预计将继续增长。</blockquote></p><p> The company’s EPS beat of $2.80 blew the bank’s $1.62 expectations out of the water, primarily driven by an $866-million capital reserve release and better-than-expected revenues, he said.</p><p><blockquote>他表示，该公司每股收益超出了该行1.62美元的预期，这主要是由于8.66亿美元的资本储备释放和好于预期的收入。</blockquote></p><p> Despite the positives coming out of second-quarter results, American Express trades at a relatively high valuation, DeVries noted. The company trades at 19x expected 2022 EPS estimates, a “significant premium” to historical multiples and where peer card issuers trade, the analyst said.</p><p><blockquote>德弗里斯指出，尽管第二季度业绩取得了积极成果，但美国运通的估值相对较高。分析师表示，该公司的交易价格是2022年每股收益预期的19倍，比历史市盈率和同行发卡机构的交易价格“大幅溢价”。</blockquote></p><p> DeVries maintained an Equal Weight rating on American Express and raised the price target from $155 to $166, based on an 18x multiple on expected 2022 EPS.</p><p><blockquote>DeVries维持美国运通的等权重评级，并根据2022年预期每股收益的18倍，将目标价从155美元上调至166美元。</blockquote></p><p> <h3>The Credit Suisse View</h3> Overall, American Express’s second-quarter results were positive, yet the company is still lagging behind peers, said analyst Moshe Orenbuch.</p><p><blockquote><h3>瑞士信贷观点</h3>分析师Moshe Orenbuch表示，总体而言，美国运通第二季度业绩良好，但该公司仍落后于同行。</blockquote></p><p> The company did book better-than-expected billed business revenue, and travel and expense spending recovered faster than expected, yet the category growth underperformed competitors, said the analyst.</p><p><blockquote>该分析师表示，该公司的计费业务收入确实好于预期，旅行和费用支出的恢复速度也快于预期，但该类别的增长表现逊于竞争对手。</blockquote></p><p> <a href=\"https://laohu8.com/S/TWOA.U\">Two</a> key positives drawn from the earnings call were that the bank is accelerating its share buyback and that card fees came in at $1.29 billion, demonstrating that demand for American Express’s premium-based fee products is accelerating, said the analyst.</p><p><blockquote><a href=\"https://laohu8.com/S/TWOA.U\">两个</a>该分析师表示，财报看涨期权的主要积极因素是该银行正在加速股票回购，卡费达到12.9亿美元，这表明对美国运通溢价收费产品的需求正在加速。</blockquote></p><p> Credit Suisse estimates for expected 2022 EPS were revised higher than guidance from $8.70 to $9.30 following the call, said the analyst.</p><p><blockquote>该分析师表示，在看涨期权之后，瑞士信贷对2022年每股收益的预期从8.70美元上调至9.30美元，高于指引。</blockquote></p><p> Longer-term, Orenbuch maintains an Underperform rating with a price target increase from $135 to $150, based on a 16x multiple on expected 2022 EPS.</p><p><blockquote>从长期来看，Orenbuch维持跑输大盘评级，基于2022年预期每股收益的16倍，目标价从135美元上调至150美元。</blockquote></p><p> <h3>The RBC View</h3> American Express’s second quarter was strong, driven by a spending rebound, said analyst Jon Arfstrom.</p><p><blockquote><h3>加拿大皇家银行的观点</h3>分析师Jon Arfstrom表示，在支出反弹的推动下，美国运通第二季度表现强劲。</blockquote></p><p> The earnings call showed improving trends in credit quality, fee revenues, card member loan revenues, and both T&E and non-T&E billings, said the analyst.</p><p><blockquote>分析师表示，盈利看涨期权显示信贷质量、费用收入、卡会员贷款收入以及T&E和非T&E账单均呈改善趋势。</blockquote></p><p> Management expected these trends to continue to benefit the company from now through the end of 2022, with T&E spending expected to close in on pre-pandemic levels, said Arfstrom.</p><p><blockquote>Arfstrom表示，管理层预计从现在到2022年底，这些趋势将继续使公司受益，T&E支出预计将接近大流行前的水平。</blockquote></p><p> The strong growth in those categories came with a 25.7% increase in customer-related and marketing expenses, said the RBC analyst.</p><p><blockquote>加拿大皇家银行分析师表示，这些类别的强劲增长伴随着客户相关和营销费用增长了25.7%。</blockquote></p><p> The analyst revised 2022 EPS estimates from $9.15 to $9.25.</p><p><blockquote>该分析师将2022年每股收益预期从9.15美元修正为9.25美元。</blockquote></p><p> Longer-term, Arfstrom maintains a Sector Perform rating, lowering the price target from $185 to $174, reflective of an expected 2022 EPS multiple contraction from 20x to 19x.</p><p><blockquote>从长期来看，Arfstrom维持行业表现评级，将目标价从185美元下调至174美元，反映出预计2022年每股收益倍数将从20倍收缩至19倍。</blockquote></p><p> <h3>The BMO View</h3> BMO analyst James Fotheringham provided a brief update on the company following earnings.</p><p><blockquote><h3>BMO观点</h3>BMO分析师James Fotheringham在财报发布后简要介绍了该公司的最新情况。</blockquote></p><p> The reported revenue and credit beats led the analyst to raise forward expectations by 15% due to increased future revenue and lower provisions estimates, according to the analyst.</p><p><blockquote>分析师表示，由于未来收入增加和拨备预期降低，报告的收入和信贷增长导致分析师将前瞻性预期提高了15%。</blockquote></p><p> American Express’s 51% increase in card volume and year-ove-ryear card acquisition doubling “surprised positively,” said Fotheringham.</p><p><blockquote>Fotheringham表示，美国运通的卡量增长了51%，卡购买量同比翻了一番，“令人惊讶”。</blockquote></p><p> Despite this quarter’s positives, the company’s expected 2022 EPS estimates are a little stretched given the ongoing T&E headwinds, said the analyst.</p><p><blockquote>该分析师表示，尽管本季度表现积极，但考虑到持续的T&E不利因素，该公司对2022年每股收益的预期有点过高。</blockquote></p><p> Fotheringham maintained the bank’s Market Perform rating, increasing the price target from $135 to $151.</p><p><blockquote>Fotheringham维持该行市场表现评级，将目标价从135美元上调至151美元。</blockquote></p><p> <b>AXP Price Action:</b> American Express was down 0.33% at $172.61 at last check Monday.</p><p><blockquote><b>AXP价格走势：</b>周一最后一次检查时，美国运通下跌0.33%，至172.61美元。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>4 American Express Analysts Break Down Q2 Earnings<blockquote>4位美国运通分析师分析第二季度收益</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n4 American Express Analysts Break Down Q2 Earnings<blockquote>4位美国运通分析师分析第二季度收益</blockquote>\n</h2>\n<h4 class=\"meta\">\n<div class=\"head\" \">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/d08bf7808052c0ca9deb4e944cae32aa);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Benzinga </p>\n<p class=\"h-time smaller\">2021-07-27 10:38</p>\n</div>\n</div>\n</h4>\n</header>\n<article>\n<p>Following <b>American <a href=\"https://laohu8.com/S/EXPR\">Express</a> Co’s </b>(NYSE:AXP) second-quarter earnings beat Friday, analysts from Barclays, Credit Suisse, RBC, and BMO provided key takeaways and revised forecasts.</p><p><blockquote>下面的<b>美国的<a href=\"https://laohu8.com/S/EXPR\">表达</a>公司的</b>（纽约证券交易所股票代码：AXP）第二季度盈利好于周五，巴克莱、瑞士信贷、加拿大皇家银行和蒙特利尔银行的分析师提供了关键要点和修正后的预测。</blockquote></p><p> <h3>The Barclays View</h3> American Express had a solid second quarter driven by improving the credit environment and U.S. consumer spending trends, said analyst Mark DeVries in a Monday note.</p><p><blockquote><h3>巴克莱观点</h3>分析师马克·德弗里斯(Mark DeVries)在周一的一份报告中表示，在信贷环境改善和美国消费者支出趋势的推动下，美国运通第二季度表现稳健。</blockquote></p><p> American Express’s credit performance has consistently improved year-to-date, with the company’s credit reserves and capital levels looking like they will normalize faster than peers, said DeVries. U.S. consumer spending is at 98% of pre-pandemic levels and is expected to continue to grow, said the analyst.</p><p><blockquote>德弗里斯表示，今年迄今为止，美国运通的信贷表现持续改善，该公司的信贷准备金和资本水平看起来将比同行更快地正常化。该分析师表示，美国消费者支出为疫情前水平的98%，预计将继续增长。</blockquote></p><p> The company’s EPS beat of $2.80 blew the bank’s $1.62 expectations out of the water, primarily driven by an $866-million capital reserve release and better-than-expected revenues, he said.</p><p><blockquote>他表示，该公司每股收益超出了该行1.62美元的预期，这主要是由于8.66亿美元的资本储备释放和好于预期的收入。</blockquote></p><p> Despite the positives coming out of second-quarter results, American Express trades at a relatively high valuation, DeVries noted. The company trades at 19x expected 2022 EPS estimates, a “significant premium” to historical multiples and where peer card issuers trade, the analyst said.</p><p><blockquote>德弗里斯指出，尽管第二季度业绩取得了积极成果，但美国运通的估值相对较高。分析师表示，该公司的交易价格是2022年每股收益预期的19倍，比历史市盈率和同行发卡机构的交易价格“大幅溢价”。</blockquote></p><p> DeVries maintained an Equal Weight rating on American Express and raised the price target from $155 to $166, based on an 18x multiple on expected 2022 EPS.</p><p><blockquote>DeVries维持美国运通的等权重评级，并根据2022年预期每股收益的18倍，将目标价从155美元上调至166美元。</blockquote></p><p> <h3>The Credit Suisse View</h3> Overall, American Express’s second-quarter results were positive, yet the company is still lagging behind peers, said analyst Moshe Orenbuch.</p><p><blockquote><h3>瑞士信贷观点</h3>分析师Moshe Orenbuch表示，总体而言，美国运通第二季度业绩良好，但该公司仍落后于同行。</blockquote></p><p> The company did book better-than-expected billed business revenue, and travel and expense spending recovered faster than expected, yet the category growth underperformed competitors, said the analyst.</p><p><blockquote>该分析师表示，该公司的计费业务收入确实好于预期，旅行和费用支出的恢复速度也快于预期，但该类别的增长表现逊于竞争对手。</blockquote></p><p> <a href=\"https://laohu8.com/S/TWOA.U\">Two</a> key positives drawn from the earnings call were that the bank is accelerating its share buyback and that card fees came in at $1.29 billion, demonstrating that demand for American Express’s premium-based fee products is accelerating, said the analyst.</p><p><blockquote><a href=\"https://laohu8.com/S/TWOA.U\">两个</a>该分析师表示，财报看涨期权的主要积极因素是该银行正在加速股票回购，卡费达到12.9亿美元，这表明对美国运通溢价收费产品的需求正在加速。</blockquote></p><p> Credit Suisse estimates for expected 2022 EPS were revised higher than guidance from $8.70 to $9.30 following the call, said the analyst.</p><p><blockquote>该分析师表示，在看涨期权之后，瑞士信贷对2022年每股收益的预期从8.70美元上调至9.30美元，高于指引。</blockquote></p><p> Longer-term, Orenbuch maintains an Underperform rating with a price target increase from $135 to $150, based on a 16x multiple on expected 2022 EPS.</p><p><blockquote>从长期来看，Orenbuch维持跑输大盘评级，基于2022年预期每股收益的16倍，目标价从135美元上调至150美元。</blockquote></p><p> <h3>The RBC View</h3> American Express’s second quarter was strong, driven by a spending rebound, said analyst Jon Arfstrom.</p><p><blockquote><h3>加拿大皇家银行的观点</h3>分析师Jon Arfstrom表示，在支出反弹的推动下，美国运通第二季度表现强劲。</blockquote></p><p> The earnings call showed improving trends in credit quality, fee revenues, card member loan revenues, and both T&E and non-T&E billings, said the analyst.</p><p><blockquote>分析师表示，盈利看涨期权显示信贷质量、费用收入、卡会员贷款收入以及T&E和非T&E账单均呈改善趋势。</blockquote></p><p> Management expected these trends to continue to benefit the company from now through the end of 2022, with T&E spending expected to close in on pre-pandemic levels, said Arfstrom.</p><p><blockquote>Arfstrom表示，管理层预计从现在到2022年底，这些趋势将继续使公司受益，T&E支出预计将接近大流行前的水平。</blockquote></p><p> The strong growth in those categories came with a 25.7% increase in customer-related and marketing expenses, said the RBC analyst.</p><p><blockquote>加拿大皇家银行分析师表示，这些类别的强劲增长伴随着客户相关和营销费用增长了25.7%。</blockquote></p><p> The analyst revised 2022 EPS estimates from $9.15 to $9.25.</p><p><blockquote>该分析师将2022年每股收益预期从9.15美元修正为9.25美元。</blockquote></p><p> Longer-term, Arfstrom maintains a Sector Perform rating, lowering the price target from $185 to $174, reflective of an expected 2022 EPS multiple contraction from 20x to 19x.</p><p><blockquote>从长期来看，Arfstrom维持行业表现评级，将目标价从185美元下调至174美元，反映出预计2022年每股收益倍数将从20倍收缩至19倍。</blockquote></p><p> <h3>The BMO View</h3> BMO analyst James Fotheringham provided a brief update on the company following earnings.</p><p><blockquote><h3>BMO观点</h3>BMO分析师James Fotheringham在财报发布后简要介绍了该公司的最新情况。</blockquote></p><p> The reported revenue and credit beats led the analyst to raise forward expectations by 15% due to increased future revenue and lower provisions estimates, according to the analyst.</p><p><blockquote>分析师表示，由于未来收入增加和拨备预期降低，报告的收入和信贷增长导致分析师将前瞻性预期提高了15%。</blockquote></p><p> American Express’s 51% increase in card volume and year-ove-ryear card acquisition doubling “surprised positively,” said Fotheringham.</p><p><blockquote>Fotheringham表示，美国运通的卡量增长了51%，卡购买量同比翻了一番，“令人惊讶”。</blockquote></p><p> Despite this quarter’s positives, the company’s expected 2022 EPS estimates are a little stretched given the ongoing T&E headwinds, said the analyst.</p><p><blockquote>该分析师表示，尽管本季度表现积极，但考虑到持续的T&E不利因素，该公司对2022年每股收益的预期有点过高。</blockquote></p><p> Fotheringham maintained the bank’s Market Perform rating, increasing the price target from $135 to $151.</p><p><blockquote>Fotheringham维持该行市场表现评级，将目标价从135美元上调至151美元。</blockquote></p><p> <b>AXP Price Action:</b> American Express was down 0.33% at $172.61 at last check Monday.</p><p><blockquote><b>AXP价格走势：</b>周一最后一次检查时，美国运通下跌0.33%，至172.61美元。</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AFG":"美国金融集团有限公司","AXP":"美国运通","QTWO":"Q2 Holdings Inc"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2154961431","content_text":"Following American Express Co’s (NYSE:AXP) second-quarter earnings beat Friday, analysts from Barclays, Credit Suisse, RBC, and BMO provided key takeaways and revised forecasts.\nThe Barclays View\nAmerican Express had a solid second quarter driven by improving the credit environment and U.S. consumer spending trends, said analyst Mark DeVries in a Monday note.\nAmerican Express’s credit performance has consistently improved year-to-date, with the company’s credit reserves and capital levels looking like they will normalize faster than peers, said DeVries. U.S. consumer spending is at 98% of pre-pandemic levels and is expected to continue to grow, said the analyst.\nThe company’s EPS beat of $2.80 blew the bank’s $1.62 expectations out of the water, primarily driven by an $866-million capital reserve release and better-than-expected revenues, he said.\nDespite the positives coming out of second-quarter results, American Express trades at a relatively high valuation, DeVries noted. The company trades at 19x expected 2022 EPS estimates, a “significant premium” to historical multiples and where peer card issuers trade, the analyst said.\nDeVries maintained an Equal Weight rating on American Express and raised the price target from $155 to $166, based on an 18x multiple on expected 2022 EPS.\nThe Credit Suisse View\nOverall, American Express’s second-quarter results were positive, yet the company is still lagging behind peers, said analyst Moshe Orenbuch.\nThe company did book better-than-expected billed business revenue, and travel and expense spending recovered faster than expected, yet the category growth underperformed competitors, said the analyst.\nTwo key positives drawn from the earnings call were that the bank is accelerating its share buyback and that card fees came in at $1.29 billion, demonstrating that demand for American Express’s premium-based fee products is accelerating, said the analyst.\nCredit Suisse estimates for expected 2022 EPS were revised higher than guidance from $8.70 to $9.30 following the call, said the analyst.\nLonger-term, Orenbuch maintains an Underperform rating with a price target increase from $135 to $150, based on a 16x multiple on expected 2022 EPS.\nThe RBC View\nAmerican Express’s second quarter was strong, driven by a spending rebound, said analyst Jon Arfstrom.\nThe earnings call showed improving trends in credit quality, fee revenues, card member loan revenues, and both T&E and non-T&E billings, said the analyst.\nManagement expected these trends to continue to benefit the company from now through the end of 2022, with T&E spending expected to close in on pre-pandemic levels, said Arfstrom.\nThe strong growth in those categories came with a 25.7% increase in customer-related and marketing expenses, said the RBC analyst.\nThe analyst revised 2022 EPS estimates from $9.15 to $9.25.\nLonger-term, Arfstrom maintains a Sector Perform rating, lowering the price target from $185 to $174, reflective of an 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Market Quotes, Business News, Financial News, Trading Ideas, and Stock Research by Professionals","home_visible":0,"media_name":"Benzinga","id":"1052270027","head_image":"https://static.tigerbbs.com/d08bf7808052c0ca9deb4e944cae32aa"},"pubTimestamp":1627353502,"share":"https://www.laohu8.com/m/news/2154961431?lang=zh_CN&edition=full","pubTime":"2021-07-27 10:38","market":"us","language":"en","title":"4 American Express Analysts Break Down Q2 Earnings<blockquote>4位美国运通分析师分析第二季度收益</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=2154961431","media":"Benzinga","summary":"Following American Express Co’s (NYSE: AXP) second-quarter earnings beat Friday, analysts from Barclays, Credit Suisse, RBC, and BMO provided key takeaways and revised forecasts.","content":"<p>Following <b>American <a href=\"https://laohu8.com/S/EXPR\">Express</a> Co’s </b>(NYSE:AXP) second-quarter earnings beat Friday, analysts from Barclays, Credit Suisse, RBC, and BMO provided key takeaways and revised forecasts.</p><p><blockquote>下面的<b>美国的<a href=\"https://laohu8.com/S/EXPR\">表达</a>公司的</b>（纽约证券交易所股票代码：AXP）第二季度盈利好于周五，巴克莱、瑞士信贷、加拿大皇家银行和蒙特利尔银行的分析师提供了关键要点和修正后的预测。</blockquote></p><p> <h3>The Barclays View</h3> American Express had a solid second quarter driven by improving the credit environment and U.S. consumer spending trends, said analyst Mark DeVries in a Monday note.</p><p><blockquote><h3>巴克莱观点</h3>分析师马克·德弗里斯(Mark DeVries)在周一的一份报告中表示，在信贷环境改善和美国消费者支出趋势的推动下，美国运通第二季度表现稳健。</blockquote></p><p> American Express’s credit performance has consistently improved year-to-date, with the company’s credit reserves and capital levels looking like they will normalize faster than peers, said DeVries. U.S. consumer spending is at 98% of pre-pandemic levels and is expected to continue to grow, said the analyst.</p><p><blockquote>德弗里斯表示，今年迄今为止，美国运通的信贷表现持续改善，该公司的信贷准备金和资本水平看起来将比同行更快地正常化。该分析师表示，美国消费者支出为疫情前水平的98%，预计将继续增长。</blockquote></p><p> The company’s EPS beat of $2.80 blew the bank’s $1.62 expectations out of the water, primarily driven by an $866-million capital reserve release and better-than-expected revenues, he said.</p><p><blockquote>他表示，该公司每股收益超出了该行1.62美元的预期，这主要是由于8.66亿美元的资本储备释放和好于预期的收入。</blockquote></p><p> Despite the positives coming out of second-quarter results, American Express trades at a relatively high valuation, DeVries noted. The company trades at 19x expected 2022 EPS estimates, a “significant premium” to historical multiples and where peer card issuers trade, the analyst said.</p><p><blockquote>德弗里斯指出，尽管第二季度业绩取得了积极成果，但美国运通的估值相对较高。分析师表示，该公司的交易价格是2022年每股收益预期的19倍，比历史市盈率和同行发卡机构的交易价格“大幅溢价”。</blockquote></p><p> DeVries maintained an Equal Weight rating on American Express and raised the price target from $155 to $166, based on an 18x multiple on expected 2022 EPS.</p><p><blockquote>DeVries维持美国运通的等权重评级，并根据2022年预期每股收益的18倍，将目标价从155美元上调至166美元。</blockquote></p><p> <h3>The Credit Suisse View</h3> Overall, American Express’s second-quarter results were positive, yet the company is still lagging behind peers, said analyst Moshe Orenbuch.</p><p><blockquote><h3>瑞士信贷观点</h3>分析师Moshe Orenbuch表示，总体而言，美国运通第二季度业绩良好，但该公司仍落后于同行。</blockquote></p><p> The company did book better-than-expected billed business revenue, and travel and expense spending recovered faster than expected, yet the category growth underperformed competitors, said the analyst.</p><p><blockquote>该分析师表示，该公司的计费业务收入确实好于预期，旅行和费用支出的恢复速度也快于预期，但该类别的增长表现逊于竞争对手。</blockquote></p><p> <a href=\"https://laohu8.com/S/TWOA.U\">Two</a> key positives drawn from the earnings call were that the bank is accelerating its share buyback and that card fees came in at $1.29 billion, demonstrating that demand for American Express’s premium-based fee products is accelerating, said the analyst.</p><p><blockquote><a href=\"https://laohu8.com/S/TWOA.U\">两个</a>该分析师表示，财报看涨期权的主要积极因素是该银行正在加速股票回购，卡费达到12.9亿美元，这表明对美国运通溢价收费产品的需求正在加速。</blockquote></p><p> Credit Suisse estimates for expected 2022 EPS were revised higher than guidance from $8.70 to $9.30 following the call, said the analyst.</p><p><blockquote>该分析师表示，在看涨期权之后，瑞士信贷对2022年每股收益的预期从8.70美元上调至9.30美元，高于指引。</blockquote></p><p> Longer-term, Orenbuch maintains an Underperform rating with a price target increase from $135 to $150, based on a 16x multiple on expected 2022 EPS.</p><p><blockquote>从长期来看，Orenbuch维持跑输大盘评级，基于2022年预期每股收益的16倍，目标价从135美元上调至150美元。</blockquote></p><p> <h3>The RBC View</h3> American Express’s second quarter was strong, driven by a spending rebound, said analyst Jon Arfstrom.</p><p><blockquote><h3>加拿大皇家银行的观点</h3>分析师Jon Arfstrom表示，在支出反弹的推动下，美国运通第二季度表现强劲。</blockquote></p><p> The earnings call showed improving trends in credit quality, fee revenues, card member loan revenues, and both T&E and non-T&E billings, said the analyst.</p><p><blockquote>分析师表示，盈利看涨期权显示信贷质量、费用收入、卡会员贷款收入以及T&E和非T&E账单均呈改善趋势。</blockquote></p><p> Management expected these trends to continue to benefit the company from now through the end of 2022, with T&E spending expected to close in on pre-pandemic levels, said Arfstrom.</p><p><blockquote>Arfstrom表示，管理层预计从现在到2022年底，这些趋势将继续使公司受益，T&E支出预计将接近大流行前的水平。</blockquote></p><p> The strong growth in those categories came with a 25.7% increase in customer-related and marketing expenses, said the RBC analyst.</p><p><blockquote>加拿大皇家银行分析师表示，这些类别的强劲增长伴随着客户相关和营销费用增长了25.7%。</blockquote></p><p> The analyst revised 2022 EPS estimates from $9.15 to $9.25.</p><p><blockquote>该分析师将2022年每股收益预期从9.15美元修正为9.25美元。</blockquote></p><p> Longer-term, Arfstrom maintains a Sector Perform rating, lowering the price target from $185 to $174, reflective of an expected 2022 EPS multiple contraction from 20x to 19x.</p><p><blockquote>从长期来看，Arfstrom维持行业表现评级，将目标价从185美元下调至174美元，反映出预计2022年每股收益倍数将从20倍收缩至19倍。</blockquote></p><p> <h3>The BMO View</h3> BMO analyst James Fotheringham provided a brief update on the company following earnings.</p><p><blockquote><h3>BMO观点</h3>BMO分析师James Fotheringham在财报发布后简要介绍了该公司的最新情况。</blockquote></p><p> The reported revenue and credit beats led the analyst to raise forward expectations by 15% due to increased future revenue and lower provisions estimates, according to the analyst.</p><p><blockquote>分析师表示，由于未来收入增加和拨备预期降低，报告的收入和信贷增长导致分析师将前瞻性预期提高了15%。</blockquote></p><p> American Express’s 51% increase in card volume and year-ove-ryear card acquisition doubling “surprised positively,” said Fotheringham.</p><p><blockquote>Fotheringham表示，美国运通的卡量增长了51%，卡购买量同比翻了一番，“令人惊讶”。</blockquote></p><p> Despite this quarter’s positives, the company’s expected 2022 EPS estimates are a little stretched given the ongoing T&E headwinds, said the analyst.</p><p><blockquote>该分析师表示，尽管本季度表现积极，但考虑到持续的T&E不利因素，该公司对2022年每股收益的预期有点过高。</blockquote></p><p> Fotheringham maintained the bank’s Market Perform rating, increasing the price target from $135 to $151.</p><p><blockquote>Fotheringham维持该行市场表现评级，将目标价从135美元上调至151美元。</blockquote></p><p> <b>AXP Price Action:</b> American Express was down 0.33% at $172.61 at last check Monday.</p><p><blockquote><b>AXP价格走势：</b>周一最后一次检查时，美国运通下跌0.33%，至172.61美元。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>4 American Express Analysts Break Down Q2 Earnings<blockquote>4位美国运通分析师分析第二季度收益</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; 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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n4 American Express Analysts Break Down Q2 Earnings<blockquote>4位美国运通分析师分析第二季度收益</blockquote>\n</h2>\n<h4 class=\"meta\">\n<div class=\"head\" \">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/d08bf7808052c0ca9deb4e944cae32aa);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Benzinga </p>\n<p class=\"h-time smaller\">2021-07-27 10:38</p>\n</div>\n</div>\n</h4>\n</header>\n<article>\n<p>Following <b>American <a href=\"https://laohu8.com/S/EXPR\">Express</a> Co’s </b>(NYSE:AXP) second-quarter earnings beat Friday, analysts from Barclays, Credit Suisse, RBC, and BMO provided key takeaways and revised forecasts.</p><p><blockquote>下面的<b>美国的<a href=\"https://laohu8.com/S/EXPR\">表达</a>公司的</b>（纽约证券交易所股票代码：AXP）第二季度盈利好于周五，巴克莱、瑞士信贷、加拿大皇家银行和蒙特利尔银行的分析师提供了关键要点和修正后的预测。</blockquote></p><p> <h3>The Barclays View</h3> American Express had a solid second quarter driven by improving the credit environment and U.S. consumer spending trends, said analyst Mark DeVries in a Monday note.</p><p><blockquote><h3>巴克莱观点</h3>分析师马克·德弗里斯(Mark DeVries)在周一的一份报告中表示，在信贷环境改善和美国消费者支出趋势的推动下，美国运通第二季度表现稳健。</blockquote></p><p> American Express’s credit performance has consistently improved year-to-date, with the company’s credit reserves and capital levels looking like they will normalize faster than peers, said DeVries. U.S. consumer spending is at 98% of pre-pandemic levels and is expected to continue to grow, said the analyst.</p><p><blockquote>德弗里斯表示，今年迄今为止，美国运通的信贷表现持续改善，该公司的信贷准备金和资本水平看起来将比同行更快地正常化。该分析师表示，美国消费者支出为疫情前水平的98%，预计将继续增长。</blockquote></p><p> The company’s EPS beat of $2.80 blew the bank’s $1.62 expectations out of the water, primarily driven by an $866-million capital reserve release and better-than-expected revenues, he said.</p><p><blockquote>他表示，该公司每股收益超出了该行1.62美元的预期，这主要是由于8.66亿美元的资本储备释放和好于预期的收入。</blockquote></p><p> Despite the positives coming out of second-quarter results, American Express trades at a relatively high valuation, DeVries noted. The company trades at 19x expected 2022 EPS estimates, a “significant premium” to historical multiples and where peer card issuers trade, the analyst said.</p><p><blockquote>德弗里斯指出，尽管第二季度业绩取得了积极成果，但美国运通的估值相对较高。分析师表示，该公司的交易价格是2022年每股收益预期的19倍，比历史市盈率和同行发卡机构的交易价格“大幅溢价”。</blockquote></p><p> DeVries maintained an Equal Weight rating on American Express and raised the price target from $155 to $166, based on an 18x multiple on expected 2022 EPS.</p><p><blockquote>DeVries维持美国运通的等权重评级，并根据2022年预期每股收益的18倍，将目标价从155美元上调至166美元。</blockquote></p><p> <h3>The Credit Suisse View</h3> Overall, American Express’s second-quarter results were positive, yet the company is still lagging behind peers, said analyst Moshe Orenbuch.</p><p><blockquote><h3>瑞士信贷观点</h3>分析师Moshe Orenbuch表示，总体而言，美国运通第二季度业绩良好，但该公司仍落后于同行。</blockquote></p><p> The company did book better-than-expected billed business revenue, and travel and expense spending recovered faster than expected, yet the category growth underperformed competitors, said the analyst.</p><p><blockquote>该分析师表示，该公司的计费业务收入确实好于预期，旅行和费用支出的恢复速度也快于预期，但该类别的增长表现逊于竞争对手。</blockquote></p><p> <a href=\"https://laohu8.com/S/TWOA.U\">Two</a> key positives drawn from the earnings call were that the bank is accelerating its share buyback and that card fees came in at $1.29 billion, demonstrating that demand for American Express’s premium-based fee products is accelerating, said the analyst.</p><p><blockquote><a href=\"https://laohu8.com/S/TWOA.U\">两个</a>该分析师表示，财报看涨期权的主要积极因素是该银行正在加速股票回购，卡费达到12.9亿美元，这表明对美国运通溢价收费产品的需求正在加速。</blockquote></p><p> Credit Suisse estimates for expected 2022 EPS were revised higher than guidance from $8.70 to $9.30 following the call, said the analyst.</p><p><blockquote>该分析师表示，在看涨期权之后，瑞士信贷对2022年每股收益的预期从8.70美元上调至9.30美元，高于指引。</blockquote></p><p> Longer-term, Orenbuch maintains an Underperform rating with a price target increase from $135 to $150, based on a 16x multiple on expected 2022 EPS.</p><p><blockquote>从长期来看，Orenbuch维持跑输大盘评级，基于2022年预期每股收益的16倍，目标价从135美元上调至150美元。</blockquote></p><p> <h3>The RBC View</h3> American Express’s second quarter was strong, driven by a spending rebound, said analyst Jon Arfstrom.</p><p><blockquote><h3>加拿大皇家银行的观点</h3>分析师Jon Arfstrom表示，在支出反弹的推动下，美国运通第二季度表现强劲。</blockquote></p><p> The earnings call showed improving trends in credit quality, fee revenues, card member loan revenues, and both T&E and non-T&E billings, said the analyst.</p><p><blockquote>分析师表示，盈利看涨期权显示信贷质量、费用收入、卡会员贷款收入以及T&E和非T&E账单均呈改善趋势。</blockquote></p><p> Management expected these trends to continue to benefit the company from now through the end of 2022, with T&E spending expected to close in on pre-pandemic levels, said Arfstrom.</p><p><blockquote>Arfstrom表示，管理层预计从现在到2022年底，这些趋势将继续使公司受益，T&E支出预计将接近大流行前的水平。</blockquote></p><p> The strong growth in those categories came with a 25.7% increase in customer-related and marketing expenses, said the RBC analyst.</p><p><blockquote>加拿大皇家银行分析师表示，这些类别的强劲增长伴随着客户相关和营销费用增长了25.7%。</blockquote></p><p> The analyst revised 2022 EPS estimates from $9.15 to $9.25.</p><p><blockquote>该分析师将2022年每股收益预期从9.15美元修正为9.25美元。</blockquote></p><p> Longer-term, Arfstrom maintains a Sector Perform rating, lowering the price target from $185 to $174, reflective of an expected 2022 EPS multiple contraction from 20x to 19x.</p><p><blockquote>从长期来看，Arfstrom维持行业表现评级，将目标价从185美元下调至174美元，反映出预计2022年每股收益倍数将从20倍收缩至19倍。</blockquote></p><p> <h3>The BMO View</h3> BMO analyst James Fotheringham provided a brief update on the company following earnings.</p><p><blockquote><h3>BMO观点</h3>BMO分析师James Fotheringham在财报发布后简要介绍了该公司的最新情况。</blockquote></p><p> The reported revenue and credit beats led the analyst to raise forward expectations by 15% due to increased future revenue and lower provisions estimates, according to the analyst.</p><p><blockquote>分析师表示，由于未来收入增加和拨备预期降低，报告的收入和信贷增长导致分析师将前瞻性预期提高了15%。</blockquote></p><p> American Express’s 51% increase in card volume and year-ove-ryear card acquisition doubling “surprised positively,” said Fotheringham.</p><p><blockquote>Fotheringham表示，美国运通的卡量增长了51%，卡购买量同比翻了一番，“令人惊讶”。</blockquote></p><p> Despite this quarter’s positives, the company’s expected 2022 EPS estimates are a little stretched given the ongoing T&E headwinds, said the analyst.</p><p><blockquote>该分析师表示，尽管本季度表现积极，但考虑到持续的T&E不利因素，该公司对2022年每股收益的预期有点过高。</blockquote></p><p> Fotheringham maintained the bank’s Market Perform rating, increasing the price target from $135 to $151.</p><p><blockquote>Fotheringham维持该行市场表现评级，将目标价从135美元上调至151美元。</blockquote></p><p> <b>AXP Price Action:</b> American Express was down 0.33% at $172.61 at last check Monday.</p><p><blockquote><b>AXP价格走势：</b>周一最后一次检查时，美国运通下跌0.33%，至172.61美元。</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AFG":"美国金融集团有限公司","AXP":"美国运通","QTWO":"Q2 Holdings Inc"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2154961431","content_text":"Following American Express Co’s (NYSE:AXP) second-quarter earnings beat Friday, analysts from Barclays, Credit Suisse, RBC, and BMO provided key takeaways and revised forecasts.\nThe Barclays View\nAmerican Express had a solid second quarter driven by improving the credit environment and U.S. consumer spending trends, said analyst Mark DeVries in a Monday note.\nAmerican Express’s credit performance has consistently improved year-to-date, with the company’s credit reserves and capital levels looking like they will normalize faster than peers, said DeVries. U.S. consumer spending is at 98% of pre-pandemic levels and is expected to continue to grow, said the analyst.\nThe company’s EPS beat of $2.80 blew the bank’s $1.62 expectations out of the water, primarily driven by an $866-million capital reserve release and better-than-expected revenues, he said.\nDespite the positives coming out of second-quarter results, American Express trades at a relatively high valuation, DeVries noted. The company trades at 19x expected 2022 EPS estimates, a “significant premium” to historical multiples and where peer card issuers trade, the analyst said.\nDeVries maintained an Equal Weight rating on American Express and raised the price target from $155 to $166, based on an 18x multiple on expected 2022 EPS.\nThe Credit Suisse View\nOverall, American Express’s second-quarter results were positive, yet the company is still lagging behind peers, said analyst Moshe Orenbuch.\nThe company did book better-than-expected billed business revenue, and travel and expense spending recovered faster than expected, yet the category growth underperformed competitors, said the analyst.\nTwo key positives drawn from the earnings call were that the bank is accelerating its share buyback and that card fees came in at $1.29 billion, demonstrating that demand for American Express’s premium-based fee products is accelerating, said the analyst.\nCredit Suisse estimates for expected 2022 EPS were revised higher than guidance from $8.70 to $9.30 following the call, said the analyst.\nLonger-term, Orenbuch maintains an Underperform rating with a price target increase from $135 to $150, based on a 16x multiple on expected 2022 EPS.\nThe RBC View\nAmerican Express’s second quarter was strong, driven by a spending rebound, said analyst Jon Arfstrom.\nThe earnings call showed improving trends in credit quality, fee revenues, card member loan revenues, and both T&E and non-T&E billings, said the analyst.\nManagement expected these trends to continue to benefit the company from now through the end of 2022, with T&E spending expected to close in on pre-pandemic levels, said Arfstrom.\nThe strong growth in those categories came with a 25.7% increase in customer-related and marketing expenses, said the RBC analyst.\nThe analyst revised 2022 EPS estimates from $9.15 to $9.25.\nLonger-term, Arfstrom maintains a Sector Perform rating, lowering the price target from $185 to $174, reflective of an 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