Keefe, Bruyette & Woods Analysts Give American Express Company (AXP) a $95.00 Price Target
American Express Company (NYSE:AXP) received a $95.00 price target from investment analysts at Keefe, Bruyette & Woods in a research note issued on Saturday. The brokerage currently has a “buy” rating on the payment services company’s stock. Keefe, Bruyette & Woods’ price target suggests a potential upside of 11.27% from the stock’s current price.
A number of other brokerages have also commented on AXP. Guggenheim raised American Express from a “neutral” rating to a “buy” rating and lifted their price target for the company from $81.05 to $90.00 in a research note on Tuesday, April 25th. BidaskClub raised American Express from a “hold” rating to a “buy” rating in a research note on Friday, June 30th. Barclays PLC reissued a “buy” rating and set a $83.00 price target on shares of American Express in a research note on Thursday, July 20th. Stephens raised American Express from an “underweight” rating to an “equal weight” rating and lifted their price target for the company from $70.00 to $82.00 in a research note on Tuesday, June 20th. Finally, Jefferies Group LLC reissued a “hold” rating and set a $75.00 price target on shares of American Express in a research note on Saturday, April 22nd. Four analysts have rated the stock with a sell rating, fourteen have given a hold rating and thirteen have assigned a buy rating to the company’s stock. American Express has an average rating of “Hold” and an average target price of $84.94.
American Express (NYSE AXP) opened at 85.38 on Friday. The company’s 50-day moving average is $85.23 and its 200 day moving average is $80.55. American Express has a 12 month low of $59.50 and a 12 month high of $87.78. The firm has a market cap of $75.47 billion, a P/E ratio of 17.51 and a beta of 1.18.
American Express (NYSE:AXP) last released its quarterly earnings data on Wednesday, July 19th. The payment services company reported $1.47 earnings per share for the quarter, beating the consensus estimate of $1.44 by $0.03. The business had revenue of $8.31 billion for the quarter, compared to analyst estimates 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 was up .9% compared to the same quarter last year. During the same period last year, the firm posted $2.10 earnings per share. Equities research analysts expect that American Express will post $5.74 EPS for the current fiscal year.
American Express announced that its Board of Directors has authorized a share buyback program on Wednesday, June 28th that allows the company to repurchase $4.40 billion in shares. This repurchase authorization allows the payment services company to repurchase up to 5.9% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board believes its stock is undervalued.
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In other news, Vice Chairman Stephen J. Squeri sold 94,792 shares of the business’s stock in a transaction that occurred on Tuesday, July 25th. The stock was sold at an average price of $85.41, for a total transaction of $8,096,184.72. Following the completion of the sale, the insider now owns 261,665 shares in the company, valued at $22,348,807.65. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Marc D. Gordon sold 4,900 shares of the business’s stock in a transaction that occurred on Wednesday, May 24th. The shares were 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 quarter, insiders sold 948,287 shares of company stock valued at $80,321,961. 0.67% of the stock is currently owned by corporate insiders.
Several large investors have recently added to or reduced their stakes in AXP. MCF Advisors LLC increased its stake in American Express by 0.3% in the second quarter. MCF Advisors LLC now owns 1,286 shares of the payment services company’s stock valued at $108,000 after buying an additional 4 shares in the last quarter. Appleton Partners Inc. MA increased its stake in American Express by 0.3% in the second quarter. Appleton Partners Inc. MA now owns 2,658 shares of the payment services company’s stock valued at $224,000 after buying an additional 8 shares in the last quarter. Westside Investment Management Inc. increased its stake in American Express by 0.5% in the second quarter. Westside Investment Management Inc. now owns 1,536 shares of the payment services company’s stock valued at $129,000 after buying an additional 8 shares in the last quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC increased its stake in American Express by 0.4% in the first quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC now owns 2,641 shares of the payment services company’s stock valued at $209,000 after buying an additional 10 shares in the last quarter. Finally, Bath Savings Trust Co increased its stake in American Express by 0.3% in the second quarter. Bath Savings Trust Co now owns 4,388 shares of the payment services company’s stock valued at $369,000 after buying an additional 14 shares in the last quarter. Hedge funds and other institutional investors own 83.86% 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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