American Express Co. (AXP) Stock Rating Lowered by Vetr Inc.
American Express Co. (NYSE:AXP) was downgraded by investment analysts at Vetr from a “buy” rating to a “strong sell” rating in a report released on Thursday. They presently have a $53.00 price objective on the payment services company’s stock. Vetr‘s target price suggests a potential downside of 12.27% from the company’s previous close.
Other equities analysts have also recently issued reports about the company. Nomura reissued a “hold” rating on shares of American Express in a report on Saturday, July 9th. Oppenheimer Holdings Inc. reaffirmed a “hold” rating on shares of American Express in a report on Thursday, July 21st. Deutsche Bank AG reaffirmed a “hold” rating on shares of American Express in a report on Wednesday, June 15th. Citigroup Inc. reaffirmed a “buy” rating on shares of American Express in a report on Wednesday, August 10th. Finally, JPMorgan Chase & Co. reaffirmed a “neutral” rating on shares of American Express in a report on Sunday, July 24th. Nine research analysts have rated the stock with a sell rating, eighteen have issued a hold rating and seven have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $67.88.
Shares of American Express (NYSE:AXP) traded down 0.46% during midday trading on Thursday, hitting $60.41. The stock had a trading volume of 4,220,483 shares. The firm’s 50-day moving average price is $64.01 and its 200-day moving average price is $63.60. The stock has a market cap of $55.81 billion, a price-to-earnings ratio of 10.69 and a beta of 1.24. American Express has a 1-year low of $50.27 and a 1-year high of $77.61.
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American Express (NYSE:AXP) last released its quarterly earnings results on Wednesday, July 20th. The payment services company reported $2.10 earnings per share for the quarter, beating the consensus estimate of $1.95 by $0.15. The firm had revenue of $8.20 billion for the quarter, compared to analysts’ expectations of $8.33 billion. American Express had a return on equity of 28.00% and a net margin of 16.73%. The company’s revenue was down .6% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.42 EPS. Analysts forecast that American Express will post $5.51 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 10th. Investors of record on Friday, October 7th will be paid a $0.32 dividend. This is an increase from American Express’s previous quarterly dividend of $0.29. The ex-dividend date of this dividend is Wednesday, October 5th. This represents a $1.28 dividend on an annualized basis and a yield of 2.12%. American Express’s payout ratio is 22.54%.
Institutional investors have recently modified their holdings of the company. Mycio Wealth Partners LLC raised its position in American Express by 4.1% in the second quarter. Mycio Wealth Partners LLC now owns 1,638 shares of the payment services company’s stock valued at $100,000 after buying an additional 65 shares in the last quarter. Blume Capital Management Inc. raised its position in American Express by 15.5% in the second quarter. Blume Capital Management Inc. now owns 1,733 shares of the payment services company’s stock valued at $105,000 after buying an additional 233 shares in the last quarter. Capital Analysts LLC raised its position in American Express by 84.0% in the second quarter. Capital Analysts LLC now owns 2,631 shares of the payment services company’s stock valued at $107,000 after buying an additional 1,201 shares in the last quarter. Feltz Wealth PLAN Inc. purchased a new position in American Express during the second quarter valued at about $112,000. Finally, Meeder Asset Management Inc. purchased a new position in American Express during the first quarter valued at about $133,000. 82.17% of the stock is owned by institutional investors.
About American Express
American Express Company is a services company. The Company’s principal products and services are charge and credit payment card products, and travel-related services offered to consumers and businesses around the world. The Company’s segments include U.S. Consumer Services (USCS), International Consumer and Network Services (ICNS), Global Commercial Services (GCS) and Global Merchant Services (GMS).
To view Vetr’s full report, visit Vetr’s official website.
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