American Express Company (AXP) Receives In-Line Rating from Jefferies Group LLC
American Express Company (NYSE:AXP)‘s stock had its “in-line” rating reaffirmed by investment analysts at Jefferies Group LLC in a report issued on Thursday. They currently have a $93.00 price target on the payment services company’s stock, up from their previous price target of $85.00. Jefferies Group LLC’s price objective would suggest a potential upside of 0.99% from the company’s current price. Jefferies Group also issued estimates for American Express’ FY2017 earnings at $5.86 EPS and FY2018 earnings at $6.64 EPS.
Several other equities research analysts have also recently commented on AXP. Buckingham Research started coverage on American Express in a research note on Monday, October 2nd. They issued a “neutral” rating and a $92.00 price target for the company. Compass Point cut American Express from a “buy” rating to a “neutral” rating in a research note on Thursday, October 12th. They noted that the move was a valuation call. Keefe, Bruyette & Woods set a $95.00 price target on American Express and gave the company a “buy” rating in a research note on Saturday, August 19th. BidaskClub raised American Express from a “sell” rating to a “hold” rating in a research note on Tuesday, August 8th. Finally, Goldman Sachs Group, Inc. (The) reissued a “neutral” rating and issued a $94.00 price target (up previously from $87.00) on shares of American Express in a research note on Saturday, July 22nd. Three research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and thirteen have given a buy rating to the company’s stock. American Express presently has an average rating of “Hold” and an average target price of $90.66.
Shares of American Express (NYSE:AXP) traded up 0.21% on Thursday, hitting $92.09. 4,442,193 shares of the stock traded hands. The company’s 50 day moving average is $89.20 and its 200 day moving average is $83.54. The stock has a market cap of $81.41 billion, a price-to-earnings ratio of 18.89 and a beta of 1.21. American Express has a one year low of $65.03 and a one year high of $93.35.
American Express (NYSE:AXP) last released its earnings results on Wednesday, October 18th. The payment services company reported $1.50 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.47 by $0.03. American Express had a return on equity of 22.75% and a net margin of 14.48%. The company had revenue of $8.44 billion for the quarter, compared to analysts’ expectations of $8.31 billion. During the same quarter in the previous year, the business posted $1.24 EPS. The business’s revenue for the quarter was up 8.5% on a year-over-year basis. On average, equities analysts forecast that American Express will post $5.84 EPS for the current year.
American Express declared that its Board of Directors has authorized a stock buyback plan on Wednesday, June 28th that authorizes the company to repurchase $4.40 billion in shares. This repurchase authorization authorizes the payment services company to repurchase up to 5.9% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.
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In other news, insider Anre D. Williams sold 53,111 shares of American Express stock in a transaction on Monday, July 31st. The stock was sold at an average price of $85.24, for a total value of $4,527,181.64. Following the transaction, the insider now owns 79,614 shares in the company, valued at approximately $6,786,297.36. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Kenneth I. Chenault sold 789,503 shares of American Express stock in a transaction on Monday, July 24th. The shares were sold at an average price of $84.62, for a total value of $66,807,743.86. Following the completion of the transaction, the chief executive officer now owns 889,836 shares in the company, valued at approximately $75,297,922.32. The disclosure for this sale can be found here. Insiders sold a total of 953,636 shares of company stock valued at $80,863,777 over the last ninety days. Insiders own 0.67% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of the company. APG Asset Management N.V. increased its stake in shares of American Express by 22.3% in the 3rd quarter. APG Asset Management N.V. now owns 3,183,933 shares of the payment services company’s stock valued at $288,019,000 after purchasing an additional 580,200 shares during the last quarter. Barometer Capital Management Inc. bought a new position in shares of American Express in the 3rd quarter valued at $10,846,000. Hall Capital Management Co. Inc. bought a new position in shares of American Express in the 3rd quarter valued at $205,000. Honkamp Krueger Financial Services Inc. bought a new position in shares of American Express in the 3rd quarter valued at $267,000. Finally, Mountain Pacific Investment Advisers Inc. ID bought a new position in shares of American Express in the 3rd quarter valued at $202,000. Institutional investors own 82.77% 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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