American Express Company (NYSE:AXP)‘s stock had its “hold” rating reiterated by Piper Jaffray Companies in a research note issued on Thursday, October 19th. They currently have a $98.00 price objective on the payment services company’s stock. Piper Jaffray Companies’ price objective would suggest a potential upside of 2.31% from the company’s current price.
Other equities analysts have also issued research reports about the company. BidaskClub raised American Express from a “hold” rating to a “buy” rating in a research note on Friday, June 30th. Barclays PLC reissued a “buy” rating and issued a $83.00 target price on shares of American Express in a research note on Thursday, July 20th. Guggenheim reaffirmed a “buy” rating and set a $95.00 price target (up previously from $90.00) on shares of American Express in a research report on Saturday, July 22nd. Keefe, Bruyette & Woods set a $95.00 price target on American Express and gave the stock a “buy” rating in a research report on Saturday, August 19th. Finally, Zacks Investment Research raised American Express from a “hold” rating to a “buy” rating and set a $96.00 price target on the stock in a research report on Tuesday, August 29th. Three analysts have rated the stock with a sell rating, seventeen have given a hold rating and thirteen have assigned a buy rating to the stock. American Express currently has an average rating of “Hold” and an average price target of $91.04.
Shares of American Express (AXP) traded up 0.10% during midday trading on Thursday, reaching $95.79. 3,212,221 shares of the company were exchanged. The firm’s 50 day moving average is $90.34 and its 200-day moving average is $84.13. The company has a market capitalization of $84.68 billion, a PE ratio of 19.65 and a beta of 1.21. American Express has a 52-week low of $65.03 and a 52-week high of $96.02.
American Express (NYSE:AXP) last issued its quarterly earnings results on Wednesday, October 18th. The payment services company reported $1.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.47 by $0.03. American Express had a return on equity of 22.73% and a net margin of 14.48%. The business had revenue of $8.44 billion for the quarter, compared to analyst estimates of $8.31 billion. During the same quarter in the prior year, the firm posted $1.24 earnings per share. The firm’s revenue for the quarter was up 8.5% compared to the same quarter last year. On average, equities analysts forecast that American Express will post $5.85 earnings per share for the current fiscal year.
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In other American Express news, insider James Peter Bush sold 10,230 shares of American Express stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $90.55, for a total value of $926,326.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Susan Sobbott sold 6,000 shares of American Express stock in a transaction on Thursday, September 7th. The shares were sold at an average price of $84.39, for a total value of $506,340.00. The disclosure for this sale can be found here. Insiders sold a total of 100,102 shares of company stock valued at $8,833,233 over the last ninety days. Insiders own 0.67% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. MCF Advisors LLC increased its stake in shares of American Express by 0.3% in the 2nd quarter. MCF Advisors LLC now owns 1,286 shares of the payment services company’s stock valued at $108,000 after purchasing an additional 4 shares during the last quarter. Farmers & Merchants Trust Co of Chambersburg PA increased its stake in shares of American Express by 30.4% in the 2nd quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 1,288 shares of the payment services company’s stock valued at $109,000 after purchasing an additional 300 shares during the last quarter. Capital Analysts LLC bought a new position in shares of American Express in the 2nd quarter valued at $115,000. SRS Capital Advisors Inc. increased its stake in shares of American Express by 10.3% in the 1st quarter. SRS Capital Advisors Inc. now owns 1,476 shares of the payment services company’s stock valued at $116,000 after purchasing an additional 138 shares during the last quarter. Finally, Westside Investment Management Inc. increased its stake in shares of American Express by 36.7% in the 1st quarter. Westside Investment Management Inc. now owns 1,528 shares of the payment services company’s stock valued at $119,000 after purchasing an additional 410 shares during the last quarter. 82.93% of the stock is owned by hedge funds and other institutional investors.
American Express Company Profile
American Express Company, together with its subsidiaries, is a global services company. The Company’s principal products and services are charge and credit card products, and travel-related services, which are offered to consumers and businesses around the world. Its segments include the U.S. Consumer Services (USCS), International Consumer and Network Services (ICNS), Global Commercial Services (GCS) and Global Merchant Services (GMS).
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