American Express Company (AXP) Given Average Rating of “Hold” by Brokerages
Shares of American Express Company (NYSE:AXP) have been given a consensus recommendation of “Hold” by the thirty-one analysts that are covering the company, MarketBeat Ratings reports. Three research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and twelve have issued a buy rating on the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $86.22.
A number of brokerages have recently weighed in on AXP. Keefe, Bruyette & Woods set a $95.00 target price on shares of American Express and gave the company a “buy” rating in a research note on Saturday, August 19th. BidaskClub lowered shares of American Express from a “hold” rating to a “sell” rating in a research note on Tuesday, August 1st. Goldman Sachs Group, Inc. (The) reaffirmed a “neutral” rating and set a $94.00 target price (up previously from $87.00) on shares of American Express in a research note on Saturday, July 22nd. Instinet reaffirmed an “underperform” rating and set a $80.00 target price on shares of American Express in a research note on Thursday, June 29th. Finally, Stephens raised shares of American Express from an “underweight” rating to an “equal weight” rating and lifted their target price for the company from $70.00 to $82.00 in a research note on Tuesday, June 20th.
In other news, insider Paul D. Fabara sold 5,981 shares of the business’s stock in a transaction that occurred on Friday, July 21st. The shares were sold at an average price of $85.88, for a total transaction of $513,648.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Vice Chairman Stephen J. Squeri sold 94,792 shares of the business’s stock in a transaction that occurred on Tuesday, July 25th. The shares were sold at an average price of $85.41, for a total transaction of $8,096,184.72. Following the transaction, the insider now directly owns 261,665 shares of the company’s stock, valued at $22,348,807.65. The disclosure for this sale can be found here. Insiders have sold 949,387 shares of company stock valued at $80,451,099 over the last three months. 0.67% of the stock is owned by corporate insiders.
Several institutional investors and hedge funds have recently added to or reduced their stakes in AXP. MCF Advisors LLC raised its holdings in shares of American Express by 0.5% during the first quarter. MCF Advisors LLC now owns 1,282 shares of the payment services company’s stock valued at $101,000 after purchasing an additional 6 shares during the last quarter. Farmers & Merchants Trust Co of Chambersburg PA raised its holdings in shares of American Express by 30.4% during the second 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. SpiderRock Advisors LLC purchased a new position in shares of American Express during the first quarter valued at approximately $112,000. Capital Analysts LLC purchased a new position in shares of American Express during the second quarter valued at approximately $115,000. Finally, SRS Capital Advisors Inc. raised its holdings in shares of American Express by 10.3% during the first 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. 82.77% of the stock is owned by hedge funds and other institutional investors.
Shares of American Express (AXP) traded up 0.36% during trading on Friday, hitting $90.46. 2,996,260 shares of the stock traded hands. The company has a 50 day moving average price of $85.80 and a 200 day moving average price of $81.62. American Express has a 12 month low of $59.50 and a 12 month high of $90.77. The firm has a market cap of $79.96 billion, a price-to-earnings ratio of 18.55 and a beta of 1.18.
American Express (NYSE:AXP) last announced its quarterly earnings results on Wednesday, July 19th. The payment services company reported $1.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.44 by $0.03. The business had revenue of $8.31 billion for the quarter, compared to analyst estimates of $8.20 billion. American Express had a net margin of 14.11% and a return on equity of 21.90%. The company’s revenue was up .9% on a year-over-year basis. During the same quarter last year, the firm earned $2.10 EPS. Analysts anticipate that American Express will post $5.74 earnings per share for the current fiscal year.
American Express declared that its board has authorized a stock repurchase plan on Wednesday, June 28th that authorizes the company to buyback $4.40 billion in shares. This buyback authorization authorizes the payment services company to repurchase up to 5.9% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s leadership believes its shares are undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 10th. Stockholders of record on Friday, October 6th will be issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 1.55%. This is a boost from American Express’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend is Thursday, October 5th. American Express’s payout ratio is presently 26.18%.
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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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