Deutsche Bank started coverage on shares of American Express (NYSE:AXP) in a note issued to investors on Tuesday, January 2nd, MarketBeat reports. The brokerage set a “buy” rating and a $118.00 price target on the payment services company’s stock. Deutsche Bank’s price objective would indicate a potential upside of 16.87% from the stock’s previous close.
Several other research analysts have also recently weighed in on AXP. Stephens set a $89.00 price objective on American Express and gave the stock a “hold” rating in a research report on Thursday, October 19th. Buckingham Research started coverage on American Express in a research report on Monday, October 2nd. They set a “neutral” rating and a $92.00 price objective on the stock. Jefferies Group reiterated an “in-line” rating and set a $93.00 price objective (up previously from $85.00) on shares of American Express in a research report on Thursday, October 19th. Barclays set a $93.00 price objective on American Express and gave the stock a “hold” rating in a research report on Thursday, October 19th. Finally, Zacks Investment Research cut American Express from a “buy” rating to a “hold” rating in a research report on Tuesday, October 31st. Two investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and thirteen have given a buy rating to the company’s stock. American Express currently has an average rating of “Hold” and a consensus price target of $98.96.
American Express (NYSE AXP) traded up $0.24 on Tuesday, reaching $100.97. The company had a trading volume of 3,231,489 shares, compared to its average volume of 3,200,000. American Express has a twelve month low of $75.39 and a twelve month high of $101.65. The company has a current ratio of 1.90, a quick ratio of 1.90 and a debt-to-equity ratio of 2.31. The company has a market cap of $87,640.00, a PE ratio of 19.49, a PEG ratio of 1.45 and a beta of 1.22.
American Express (NYSE:AXP) last posted its quarterly earnings results on Wednesday, October 18th. The payment services company reported $1.50 earnings per share for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $8.31 billion. During the same quarter in the prior year, the business earned $1.24 EPS. The firm’s revenue for the quarter was up 8.5% on a year-over-year basis. analysts predict that American Express will post 5.85 earnings per share for the current year.
In other news, insider James Peter Bush sold 12,789 shares of the stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $99.45, for a total transaction of $1,271,866.05. Following the sale, the insider now directly owns 92,504 shares of the company’s stock, valued at approximately $9,199,522.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Anre D. Williams sold 30,761 shares of the firm’s stock in a transaction dated Wednesday, October 25th. The shares were sold at an average price of $93.41, for a total value of $2,873,385.01. Following the completion of the sale, the insider now directly owns 28,720 shares in the company, valued at $2,682,735.20. The disclosure for this sale can be found here. Over the last three months, insiders have sold 442,869 shares of company stock worth $42,823,869. 0.67% of the stock is currently owned by insiders.
A number of large investors have recently added to or reduced their stakes in AXP. Northside Capital Management LLC acquired a new stake in American Express in the first quarter valued at about $575,000. Lazard Asset Management LLC boosted its stake in shares of American Express by 117.3% during the first quarter. Lazard Asset Management LLC now owns 597,830 shares of the payment services company’s stock valued at $47,293,000 after purchasing an additional 322,742 shares in the last quarter. First Heartland Consultants Inc. boosted its stake in shares of American Express by 32.4% during the first quarter. First Heartland Consultants Inc. now owns 7,564 shares of the payment services company’s stock valued at $598,000 after purchasing an additional 1,850 shares in the last quarter. BlackRock Inc. boosted its stake in shares of American Express by 2,686.0% during the first quarter. BlackRock Inc. now owns 44,177,867 shares of the payment services company’s stock valued at $3,494,913,000 after purchasing an additional 42,592,136 shares in the last quarter. Finally, Epoch Investment Partners Inc. acquired a new stake in shares of American Express during the first quarter valued at about $23,057,000. 83.35% of the stock is currently owned by institutional investors and hedge funds.
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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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