American Express (NYSE:AXP) Receives Average Recommendation of “Hold” from Brokerages

American Express (NYSE:AXP) has received an average rating of “Hold” from the twenty ratings firms that are presently covering the firm, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and eight have assigned a buy rating to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $124.29.

A number of brokerages have recently weighed in on AXP. JPMorgan Chase & Co. set a $122.00 target price on American Express and gave the stock a “hold” rating in a research note on Tuesday, October 8th. BMO Capital Markets increased their target price on American Express to $119.00 and gave the stock a “market perform” rating in a research note on Monday, July 22nd. Deutsche Bank began coverage on American Express in a research note on Monday, July 8th. They set a “buy” rating and a $142.00 target price on the stock. William Blair reiterated a “buy” rating on shares of American Express in a research note on Friday. Finally, Wells Fargo & Co increased their target price on American Express from $135.00 to $140.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 10th.

Shares of NYSE AXP traded up $2.30 during trading hours on Monday, reaching $119.07. 1,128,477 shares of the stock were exchanged, compared to its average volume of 3,271,852. The firm has a market capitalization of $98.81 billion, a price-to-earnings ratio of 16.24, a P/E/G ratio of 1.44 and a beta of 1.06. The company has a debt-to-equity ratio of 2.50, a quick ratio of 1.84 and a current ratio of 1.84. American Express has a 52 week low of $89.05 and a 52 week high of $129.34. The stock’s fifty day simple moving average is $117.67 and its 200 day simple moving average is $119.68.

American Express (NYSE:AXP) last announced its earnings results on Friday, October 18th. The payment services company reported $2.08 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.07 by $0.01. The company had revenue of $10.99 billion for the quarter, compared to analyst estimates of $10.94 billion. American Express had a return on equity of 29.75% and a net margin of 16.60%. The firm’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same quarter last year, the company earned $1.88 earnings per share. Research analysts predict that American Express will post 8.15 EPS for the current fiscal year.

The business also recently disclosed a 0.39000 dividend, which will be paid on Friday, November 8th. Shareholders of record on Friday, October 4th will be paid a dividend of $0.43 per share. The ex-dividend date is Thursday, October 3rd. This represents a yield of 1.3%. American Express’s dividend payout ratio (DPR) is presently 23.47%.

In other American Express news, insider Paul D. Fabara sold 15,455 shares of the firm’s stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $127.06, for a total transaction of $1,963,712.30. Following the transaction, the insider now owns 35,931 shares in the company, valued at approximately $4,565,392.86. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Jeffrey C. Campbell sold 7,045 shares of the firm’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $124.91, for a total value of $879,990.95. Following the transaction, the chief financial officer now owns 59,620 shares in the company, valued at approximately $7,447,134.20. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 37,500 shares of company stock worth $4,618,653. Corporate insiders own 0.21% of the company’s stock.

A number of institutional investors have recently bought and sold shares of AXP. Fisher Asset Management LLC boosted its holdings in shares of American Express by 3.5% in the 2nd quarter. Fisher Asset Management LLC now owns 11,352,692 shares of the payment services company’s stock valued at $1,401,376,000 after purchasing an additional 381,084 shares in the last quarter. Magellan Asset Management Ltd boosted its holdings in shares of American Express by 212,845.6% in the 2nd quarter. Magellan Asset Management Ltd now owns 9,580,424 shares of the payment services company’s stock valued at $1,182,608,000 after purchasing an additional 9,575,925 shares in the last quarter. Nuveen Asset Management LLC boosted its holdings in shares of American Express by 1,759.0% in the 2nd quarter. Nuveen Asset Management LLC now owns 6,961,641 shares of the payment services company’s stock valued at $859,345,000 after purchasing an additional 6,587,148 shares in the last quarter. Invesco Ltd. boosted its holdings in shares of American Express by 5.9% in the 2nd quarter. Invesco Ltd. now owns 5,706,357 shares of the payment services company’s stock valued at $704,392,000 after purchasing an additional 319,389 shares in the last quarter. Finally, Morgan Stanley boosted its holdings in shares of American Express by 16.2% in the 2nd quarter. Morgan Stanley now owns 5,253,506 shares of the payment services company’s stock valued at $648,492,000 after purchasing an additional 731,450 shares in the last quarter. Hedge funds and other institutional investors own 83.90% of the company’s stock.

American Express Company Profile

American Express Company, together with its subsidiaries, provides charge and credit payment card products, and travel-related services to consumers and businesses worldwide. It operates through three segments: Global Consumer Services Group, Global Commercial Services, and Global Merchant and Network Services.

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Analyst Recommendations for American Express (NYSE:AXP)

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