American Express (NYSE:AXP)‘s stock had its “hold” rating reaffirmed by analysts at BMO Capital Markets in a research report issued to clients and investors on Monday, January 8th. They presently have a $103.00 price target on the payment services company’s stock. BMO Capital Markets’ price objective points to a potential upside of 3.00% from the stock’s current price.
Several other research analysts have also issued reports on the stock. Keefe, Bruyette & Woods restated a “buy” rating and issued a $116.00 price target on shares of American Express in a research report on Friday, December 22nd. Bank of America set a $128.00 price target on shares of American Express and gave the stock a “buy” rating in a research report on Monday, December 18th. Zacks Investment Research upgraded shares of American Express from a “hold” rating to a “buy” rating and set a $94.00 price target on the stock in a research report on Monday, September 11th. Credit Suisse Group reiterated a “sell” rating and set a $79.00 price objective on shares of American Express in a research report on Wednesday, October 4th. Finally, Deutsche Bank initiated coverage on shares of American Express in a research report on Tuesday, January 2nd. They set a “buy” rating and a $118.00 price objective on the stock. Two research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $101.08.
Shares of American Express (NYSE:AXP) traded up $0.60 during trading hours on Monday, reaching $100.00. The company had a trading volume of 2,947,115 shares, compared to its average volume of 3,470,000. American Express has a 1 year low of $75.51 and a 1 year high of $102.39. The company has a market capitalization of $86,800.00, a PE ratio of 33.44, a price-to-earnings-growth ratio of 1.34 and a beta of 1.22. The company has a debt-to-equity ratio of 3.11, a quick ratio of 1.90 and a current ratio of 2.37.
American Express (NYSE:AXP) last announced its earnings results on Thursday, January 18th. The payment services company reported $1.58 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.54 by $0.04. The firm had revenue of $8.84 billion for the quarter, compared to analysts’ expectations of $8.73 billion. American Express had a return on equity of 26.07% and a net margin of 8.08%. The firm’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.91 earnings per share. equities analysts predict that American Express will post 7.16 earnings per share for the current fiscal year.
In other American Express news, EVP Michael John O’neill sold 43,741 shares of the company’s stock in a transaction that occurred on Monday, December 11th. The shares were sold at an average price of $98.85, for a total value of $4,323,797.85. Following the completion of the sale, the executive vice president now owns 43,731 shares of the company’s stock, valued at $4,322,809.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Kenneth I. Chenault sold 96,440 shares of the stock in a transaction on Thursday, December 14th. The stock was sold at an average price of $97.30, for a total transaction of $9,383,612.00. Following the sale, the chief executive officer now directly owns 1,178,333 shares of the company’s stock, valued at approximately $114,651,800.90. The disclosure for this sale can be found here. Insiders sold 318,254 shares of company stock worth $31,059,302 over the last 90 days. 0.67% of the stock is currently owned by company insiders.
A number of hedge funds have recently made changes to their positions in the business. Appleton Partners Inc. MA raised its stake in American Express by 0.3% in the 2nd quarter. Appleton Partners Inc. MA now owns 2,658 shares of the payment services company’s stock worth $224,000 after purchasing an additional 8 shares in the last quarter. Westside Investment Management Inc. grew its holdings in shares of American Express by 0.5% during the 2nd quarter. Westside Investment Management Inc. now owns 1,536 shares of the payment services company’s stock valued at $129,000 after purchasing an additional 8 shares during the last quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC grew its holdings in shares of American Express by 0.4% during the 2nd quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC now owns 2,652 shares of the payment services company’s stock valued at $223,000 after purchasing an additional 11 shares during the last quarter. Bath Savings Trust Co grew its holdings in shares of American Express by 0.3% during the 2nd quarter. Bath Savings Trust Co now owns 4,388 shares of the payment services company’s stock valued at $369,000 after purchasing an additional 14 shares during the last quarter. Finally, Dearborn Partners LLC boosted its position in American Express by 0.6% during the 2nd quarter. Dearborn Partners LLC now owns 2,861 shares of the payment services company’s stock worth $241,000 after buying an additional 18 shares during the period. Hedge funds and other institutional investors own 83.57% of the company’s stock.
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About American Express
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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