Oppenheimer Reiterates $117.00 Price Target for American Express (AXP)
AXP has been the subject of a number of other reports. Barclays set a $93.00 target price on shares of American Express and gave the company a hold rating in a research note on Thursday, October 19th. Bank of America boosted their target price on shares of American Express from $102.00 to $106.00 and gave the company a buy rating in a research note on Thursday, October 19th. Jefferies Group reissued an in-line rating and set a $93.00 target price (up from $85.00) on shares of American Express in a research note on Thursday, October 19th. Buckingham Research began coverage on shares of American Express in a research note on Monday, October 2nd. They set a neutral rating and a $92.00 target price for the company. Finally, Zacks Investment Research raised shares of American Express from a hold rating to a buy rating and set a $111.00 target price for the company in a research note on Wednesday, January 3rd. Two analysts have rated the stock with a sell rating, seventeen have given a hold rating and fourteen have assigned a buy rating to the company. The stock currently has a consensus rating of Hold and a consensus price target of $100.80.
American Express (AXP) traded down $1.83 during midday trading on Friday, reaching $98.03. 12,292,342 shares of the company’s stock traded hands, compared to its average volume of 3,170,000. The company has a debt-to-equity ratio of 2.31, a current ratio of 1.90 and a quick ratio of 1.90. The stock has a market capitalization of $85,090.00, a price-to-earnings ratio of 18.92, a price-to-earnings-growth ratio of 1.40 and a beta of 1.22. American Express has a 52 week low of $75.39 and a 52 week high of $102.39.
American Express (NYSE:AXP) last posted its quarterly earnings data on Thursday, January 18th. The payment services company reported $1.58 EPS for the quarter, topping the consensus estimate of $1.54 by $0.04. The company had revenue of $8.84 billion during the quarter, compared to analyst estimates of $8.73 billion. American Express had a net margin of 8.08% and a return on equity of 25.12%. American Express’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.91 earnings per share. research analysts anticipate that American Express will post 6.96 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 9th. Investors of record on Friday, January 5th will be paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 1.43%. The ex-dividend date of this dividend is Thursday, January 4th. American Express’s dividend payout ratio (DPR) is presently 27.03%.
In other American Express news, insider Anre D. Williams sold 30,761 shares of the business’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 transaction, the insider now directly owns 28,720 shares in the company, valued at $2,682,735.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Kenneth I. Chenault sold 96,440 shares of the business’s stock in a transaction dated 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 completion of the transaction, the chief executive officer now owns 1,178,333 shares of the company’s stock, valued at $114,651,800.90. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 442,869 shares of company stock valued at $42,823,869. 0.67% of the stock is owned by insiders.
Institutional investors have recently made changes to their positions in the business. Advisors Asset Management Inc. raised its holdings in American Express by 4.9% in the third quarter. Advisors Asset Management Inc. now owns 143,134 shares of the payment services company’s stock worth $12,948,000 after purchasing an additional 6,709 shares in the last quarter. Bronfman E.L. Rothschild L.P. raised its holdings in American Express by 10.8% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 5,669 shares of the payment services company’s stock worth $478,000 after purchasing an additional 554 shares in the last quarter. Westpac Banking Corp raised its holdings in American Express by 2.2% in the third quarter. Westpac Banking Corp now owns 243,683 shares of the payment services company’s stock worth $22,044,000 after purchasing an additional 5,252 shares in the last quarter. Crossmark Global Holdings Inc. bought a new position in American Express in the third quarter worth about $5,505,000. Finally, Shelton Capital Management bought a new position in American Express in the second quarter worth about $670,000. Institutional investors and hedge funds own 83.36% of the company’s stock.
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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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