American Express Company (AXP) Receives Average Rating of “Hold” from Brokerages
Shares of American Express Company (NYSE:AXP) have earned a consensus recommendation of “Hold” from the thirty-one brokerages that are covering the company, MarketBeat reports. Four research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and thirteen have assigned a buy rating to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $84.98.
Several brokerages have recently weighed in on AXP. Piper Jaffray Companies restated a “neutral” rating and issued a $83.00 price objective (up previously from $82.00) on shares of American Express in a report on Saturday, April 22nd. BidaskClub upgraded American Express from a “sell” rating to a “hold” rating in a report on Tuesday. Instinet restated an “underperform” rating and issued a $80.00 price objective on shares of American Express in a report on Thursday, June 29th. Barclays PLC restated a “buy” rating and issued a $83.00 price objective on shares of American Express in a report on Thursday, July 20th. Finally, BMO Capital Markets restated a “hold” rating and issued a $84.00 price objective on shares of American Express in a report on Thursday, June 1st.
American Express (NYSE AXP) traded down 0.32% on Friday, reaching $84.29. The company had a trading volume of 3,078,650 shares. The firm has a 50 day moving average price of $84.79 and a 200-day moving average price of $80.22. The stock has a market capitalization of $74.51 billion, a price-to-earnings ratio of 17.29 and a beta of 1.18. American Express has a 12 month low of $59.50 and a 12 month high of $86.67.
American Express (NYSE:AXP) last announced its quarterly earnings data on Wednesday, July 19th. The payment services company reported $1.47 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.44 by $0.03. The company had revenue of $8.31 billion during the quarter, compared to analysts’ expectations of $8.20 billion. American Express had a return on equity of 21.90% and a net margin of 14.11%. American Express’s revenue for the quarter was up .9% compared to the same quarter last year. During the same quarter last year, the company earned $2.10 EPS. Analysts forecast that American Express will post $5.74 earnings per share for the current fiscal year.
American Express announced that its board has authorized a share repurchase plan on Wednesday, June 28th that allows the company to repurchase $4.40 billion in shares. This repurchase authorization allows the payment services company to purchase up to 5.9% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s management believes its shares are undervalued.
In other news, Vice Chairman Stephen J. Squeri sold 94,792 shares of American Express stock in a transaction that occurred on Tuesday, July 25th. The shares were sold at an average price of $85.41, for a total value of $8,096,184.72. Following the completion of the sale, the insider now directly owns 261,665 shares in the company, valued at $22,348,807.65. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Kenneth I. Chenault sold 789,503 shares of American Express stock in a transaction that occurred on Monday, July 24th. The shares were sold at an average price of $84.62, for a total transaction of $66,807,743.86. Following the completion of the sale, the chief executive officer now owns 889,836 shares of the company’s stock, valued at $75,297,922.32. The disclosure for this sale can be found here. Over the last quarter, insiders sold 948,287 shares of company stock valued at $80,321,961. 0.67% of the stock is owned by company insiders.
Several large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in American Express by 1.5% in the second quarter. Vanguard Group Inc. now owns 50,233,957 shares of the payment services company’s stock worth $4,231,710,000 after buying an additional 731,428 shares during the last quarter. BlackRock Inc. increased its position in shares of American Express by 1.1% in the second quarter. BlackRock Inc. now owns 44,685,897 shares of the payment services company’s stock valued at $3,764,339,000 after buying an additional 508,030 shares in the last quarter. State Street Corp increased its position in shares of American Express by 1.8% in the first quarter. State Street Corp now owns 40,399,620 shares of the payment services company’s stock valued at $3,196,011,000 after buying an additional 731,315 shares in the last quarter. Wellington Management Group LLP increased its position in shares of American Express by 21.7% in the first quarter. Wellington Management Group LLP now owns 17,198,787 shares of the payment services company’s stock valued at $1,360,596,000 after buying an additional 3,071,573 shares in the last quarter. Finally, First Eagle Investment Management LLC increased its position in shares of American Express by 0.6% in the second quarter. First Eagle Investment Management LLC now owns 16,342,822 shares of the payment services company’s stock valued at $1,376,719,000 after buying an additional 103,546 shares in the last quarter. Institutional investors own 83.81% of the company’s stock.
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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