Saskatchewan's first lithium brine project receives initial approval
WATCH: The Ministry of Energy and Resources has granted the approval of Saskatchewan's first lithium brine project.
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Globe and Mail
38 minutes ago
- Globe and Mail
Should You Buy AmEx Stock After Wall Street Ups Earnings View?
American Express Company AXP is gaining attention as its earnings estimates for 2025 have moved higher over the past week. The company delivered strong first-quarter 2025 earnings, driven by growing Card Member spending and a premium customer base. Rising revolving loan balances and continued robust card fee growth aided its performance. The results were partially offset by escalating customer engagement and operating costs. Analysts Turn Bullish on AmEx Wall Street analysts are turning bullish on the stock, as evident from the earnings estimates' northward revision. Over the past seven days, the Zacks Consensus Estimate for 2025 earnings has increased 1 cent. The Zacks Consensus Estimate for AmEx's 2025 and 2026 earnings indicates 13.9% year-over-year growth each. Similarly, the consensus mark for 2025 and 2026 revenues is pegged at $71.3 billion and $77 billion, respectively, indicating 8.1% and 8% year-over-year growth. It beat earnings estimates in each of the past four quarters, with the average surprise being 5.2%. American Express Company Price and EPS Surprise AmEx's Tailwinds Analysts anticipate that American Express will soon announce a significant increase in the annual fee for its Platinum card, following rival JPMorgan Chase & Co. 's JPM decision to raise the fee on its Sapphire Reserve card by 45% to $795, a record hike among major U.S. credit cards. AmEx is expected to unveil its largest-ever card revamp this fall, marking a substantial investment in its premium offering. Warren Buffett frequently cites AmEx as a prime example of a durable business with a strong competitive moat. Unlike Visa Inc. V and Mastercard Incorporated MA, which operate solely as payment networks, AmEx also functions as a bank, allowing it to generate revenue from both transaction fees and interest on card balances. This integrated model provides a more diversified income stream and enhances its resilience to economic uncertainty. The company is also making notable inroads with younger consumers. Gen X, millennials, and Gen Z now represent a significant share of AmEx's customer base, spending at higher levels than baby boomers and driving long-term growth prospects. Financially, AmEx remains on solid footing. As of the first quarter of 2025, it held $52.5 billion in cash and equivalents against just $1.6 billion in short-term debt. The company returned $7.9 billion to shareholders in 2024 through dividends and buybacks and maintained that momentum in early 2025 with $1.3 billion returned in the first quarter. Additionally, it boosted its quarterly dividend by 17% in March 2025 to 82 cents per share. AmEx's Price Performance & Valuation AmEx stock has gained 9.6% over the past three months, underperforming the industry 's 6.3% decline. Peers like Visaand Mastercardalso witnessed growth, but to a lesser extent. Meanwhile, the S&P 500 has gained 5.5% in the same period. Three-Month Price Performance Comparison – AXP, V, MA, Industry & S&P 500 AXP is currently trading at a premium based on its historical valuation. Its forward P/E ratio stands at 18.31X, above its five-year median of 16.83X, indicating a higher-than-usual market confidence in its growth prospects. However, when compared to peers such as Visa and Mastercard, which trade at forward P/E multiples of 27.53X and 31.27X, respectively, AXP appears relatively attractive. AmEx's Risks American Express continues to grapple with rising expenses, which could weigh on profit growth. Total costs have climbed steadily in recent years, up 22% in 2021, 24% in 2022, 10% in 2023 and 6% in 2024. The trend persisted into the first quarter of 2025, with expenses rising 10% year over year to $12.5 billion. A large portion of these costs stems from customer engagement and marketing efforts, which are expected to remain elevated, putting pressure on margins. Reward expenses and cardmember services remain key cost drivers, comprising nearly 45% of total expenses in 2024. These categories are set to rise further as consumer spending grows. Membership Rewards and cashback payouts have increased in line with higher billed business, while surging travel-related expenditure has also contributed to the jump in rewards expenses. Should You Buy AXP Stock Now? American Express remains fundamentally strong, backed by a premium customer base, diversified revenue streams and a solid balance sheet. Its ability to capture younger demographics and the planned Platinum card revamp offer long-term growth potential. However, rising expenses, especially in rewards and customer engagement, pose margin risks, while the stock's premium valuation versus its historical average tempers near-term upside potential. Although analyst sentiment has improved slightly, with upward estimate revisions for 2025, these positive factors appear largely priced in. Given this balanced risk-reward profile, a Zacks Rank #3 (Hold) seems appropriate, suggesting investors wait for a more attractive entry point. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. Zacks Names #1 Semiconductor Stock It's only 1/9,000th the size of NVIDIA which skyrocketed more than +800% since we recommended it. NVIDIA is still strong, but our new top chip stock has much more room to boom. With strong earnings growth and an expanding customer base, it's positioned to feed the rampant demand for Artificial Intelligence, Machine Learning, and Internet of Things. Global semiconductor manufacturing is projected to explode from $452 billion in 2021 to $803 billion by 2028. See This Stock Now for Free >> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report JPMorgan Chase & Co. (JPM): Free Stock Analysis Report Mastercard Incorporated (MA): Free Stock Analysis Report Visa Inc. (V): Free Stock Analysis Report American Express Company (AXP): Free Stock Analysis Report
CTV News
an hour ago
- CTV News
Craig's Cookies set to open in Ottawa on Canada Day
Craig's Cookies will open on George Street in the ByWard Market on July 1. (Josh Pringle/CTV News Ottawa) Craig's Cookies will celebrate Canada's birthday with the opening of its first location in Ottawa. The Toronto-based cookie company announced its location on George Street in the ByWard Market on July 1. 'A fitting celebration of Canadian pride, community, and cookies,' Craig's Cookies said in a media release. Craig's Cookies has locations in Toronto, Niagara-on-the-Lake, Collingwood, Niagara Falls, Burlington, Hamilton, London, Windsor and St. John's. According to Craig's Cookies Instagram account, the company is hiring bakers for its Ottawa store. Craig's Cookies is moving into the former location of Quelque Chose Pâtisserie, the store specializing in macarons. The store closed in April after almost eight years in the ByWard Market. Last year, Crumbl Cookies opened its first location in Ottawa at College Square.
CTV News
an hour ago
- CTV News
Mazda Canada CEO David Klan to retire, COO Amy Fleming named successor
A Mazda vehicle logo is pictured at an automotive dealership in Ottawa on Friday, Aug. 11, 2023. THE CANADIAN PRESS/Sean Kilpatrick RICHMOND HILL — Mazda Canada Inc. says president and chief executive David Klan will retire later this year. He will be succeeded by Amy Fleming, the company's chief operating officer, effective Oct. 1. Klan, 33-year veteran of Mazda, held a broad range of executive positions with Japanese automaker globally before taking the top Canadian job in 2019. Fleming joined Mazda Canada in 2006 and has been senior director and chief operating officer since 2023. Based in Richmond Hill, Ont., Mazda Canada is responsible for the sales and marketing, customer service and parts support of Mazda vehicles in the country. It has a network of 163 retail stores across Canada. --- This report by The Canadian Press was first published June 20, 2025.
