Credit Suisse Group Reaffirms Underperform Rating for American Express Company (AXP)
American Express Company (NYSE:AXP)‘s stock had its “underperform” rating restated by research analysts at Credit Suisse Group in a note issued to investors on Wednesday. They presently have a $80.00 price objective on the payment services company’s stock. Credit Suisse Group’s price target suggests a potential downside of 5.13% from the company’s previous close.
AXP has been the topic of several other research reports. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $91.00 price objective on shares of American Express Company in a research report on Monday, April 10th. Piper Jaffray Companies reissued a “neutral” rating and issued a $83.00 price objective (up previously from $82.00) on shares of American Express Company in a research report on Saturday, April 22nd. Instinet reissued an “underperform” rating and issued a $80.00 price objective on shares of American Express Company in a research report on Thursday, June 29th. BMO Capital Markets reissued a “hold” rating and issued a $84.00 price objective on shares of American Express Company in a research report on Thursday, June 1st. Finally, Jefferies Group LLC reissued a “hold” rating and issued a $75.00 price objective on shares of American Express Company in a research report on Saturday, April 22nd. Four analysts have rated the stock with a sell rating, fourteen have issued a hold rating and eleven have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $83.53.
American Express Company (NYSE AXP) traded up 0.70% during mid-day trading on Wednesday, reaching $84.33. 2,454,587 shares of the company’s stock were exchanged. The stock has a 50-day moving average price of $79.56 and a 200 day moving average price of $78.20. The company has a market cap of $75.37 billion, a PE ratio of 15.22 and a beta of 1.18. American Express Company has a 52-week low of $59.50 and a 52-week high of $85.88.
American Express Company (NYSE:AXP) last posted its quarterly earnings data on Wednesday, April 19th. The payment services company reported $1.34 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.28 by $0.06. American Express Company had a return on equity of 25.24% and a net margin of 16.24%. The business had revenue of $7.89 billion for the quarter, compared to analysts’ expectations of $7.76 billion. During the same quarter in the previous year, the firm earned $1.45 earnings per share. The business’s revenue was down 2.5% on a year-over-year basis. Equities analysts predict that American Express Company will post $5.70 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, August 10th. Investors of record on Friday, July 7th will be given a dividend of $0.32 per share. The ex-dividend date of this dividend is Wednesday, July 5th. This represents a $1.28 annualized dividend and a yield of 1.52%. American Express Company’s payout ratio is 23.19%.
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In related news, insider Douglas E. Buckminster sold 46,950 shares of the firm’s stock in a transaction that occurred on Tuesday, April 25th. The stock was sold at an average price of $80.78, for a total transaction of $3,792,621.00. Following the transaction, the insider now directly owns 103,676 shares in the company, valued at approximately $8,374,947.28. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Marc D. Gordon sold 4,900 shares of the firm’s stock in a transaction that occurred on Wednesday, May 24th. The stock was sold at an average price of $76.98, for a total value of $377,202.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 54,850 shares of company stock worth $4,407,543. 0.67% of the stock is owned by corporate insiders.
A number of institutional investors have recently bought and sold shares of the company. SeaBridge Investment Advisors LLC acquired a new stake in American Express Company during the first quarter valued at $100,000. MCF Advisors LLC boosted its stake in American Express Company by 0.5% in the first quarter. MCF Advisors LLC now owns 1,282 shares of the payment services company’s stock valued at $101,000 after buying an additional 6 shares during the period. SpiderRock Advisors LLC acquired a new stake in American Express Company during the first quarter valued at $112,000. SRS Capital Advisors Inc. boosted its stake in American Express Company by 10.3% in the first quarter. SRS Capital Advisors Inc. now owns 1,476 shares of the payment services company’s stock valued at $116,000 after buying an additional 138 shares during the period. Finally, Westside Investment Management Inc. boosted its stake in American Express Company by 36.7% in the first quarter. Westside Investment Management Inc. now owns 1,528 shares of the payment services company’s stock valued at $119,000 after buying an additional 410 shares during the period. Institutional investors and hedge funds own 82.67% of the company’s stock.
American Express Company 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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