Oppenheimer Holdings, Inc. Analysts Give American Express Company (AXP) a $99.00 Price Target
American Express Company (NYSE:AXP) has been assigned a $99.00 price objective by stock analysts at Oppenheimer Holdings, Inc. in a research note issued to investors on Thursday. The firm presently has a “buy” rating on the payment services company’s stock. Oppenheimer Holdings, Inc.’s target price points to a potential upside of 7.50% from the company’s previous close. Oppenheimer Holdings also issued estimates for American Express’ Q4 2017 earnings at $1.56 EPS, FY2017 earnings at $5.86 EPS and FY2018 earnings at $6.66 EPS.
A number of other equities analysts have also recently issued reports on the stock. Stephens set a $89.00 price objective on shares of American Express and gave the company a “hold” rating in a research note on Thursday. Credit Suisse Group reaffirmed an “underperform” rating and issued a $84.00 price objective (up from $79.00) on shares of American Express in a research note on Thursday. Jefferies Group LLC reaffirmed an “in-line” rating and issued a $93.00 price objective (up from $85.00) on shares of American Express in a research note on Thursday. Compass Point cut shares of 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. Finally, Wells Fargo & Company assumed coverage on shares of American Express in a research note on Tuesday, October 10th. They issued an “outperform” rating and a $105.00 price objective on the stock. Three equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating and thirteen have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $90.66.
American Express (NYSE:AXP) traded up 0.21% on Thursday, hitting $92.09. The company’s stock had a trading volume of 4,442,193 shares. American Express has a 1-year low of $65.03 and a 1-year high of $93.35. The company has a market capitalization of $81.41 billion, a P/E ratio of 17.68 and a beta of 1.21. The company has a 50 day moving average price of $89.20 and a 200-day moving average price of $83.54.
American Express (NYSE:AXP) last announced its quarterly earnings data on Wednesday, October 18th. The payment services company reported $1.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.47 by $0.03. American Express had a net margin of 14.48% and a return on equity of 22.75%. The firm had revenue of $8.44 billion for the quarter, compared to analysts’ expectations of $8.31 billion. During the same period last year, the firm earned $1.24 earnings per share. 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 earnings per share for the current fiscal year.
American Express declared that its Board of Directors has approved a share repurchase plan on Wednesday, June 28th that permits the company to repurchase $4.40 billion in shares. This repurchase authorization permits the payment services company to buy up to 5.9% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.
In other news, insider James Peter Bush sold 10,230 shares of American Express stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $90.55, for a total value of $926,326.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Kenneth I. Chenault sold 789,503 shares of American Express stock in a transaction dated 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 transaction, the chief executive officer now directly owns 889,836 shares of the company’s stock, valued at approximately $75,297,922.32. The disclosure for this sale can be found here. In the last three months, insiders sold 953,636 shares of company stock valued at $80,863,777. Insiders own 0.67% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the company. MCF Advisors LLC grew its position in shares of American Express by 0.3% in the 2nd quarter. MCF Advisors LLC now owns 1,286 shares of the payment services company’s stock valued at $108,000 after acquiring an additional 4 shares during the period. Farmers & Merchants Trust Co of Chambersburg PA grew its position in shares of American Express by 30.4% in the 2nd quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 1,288 shares of the payment services company’s stock valued at $109,000 after acquiring an additional 300 shares during the period. Capital Analysts LLC bought a new position in shares of American Express in the 2nd quarter valued at about $115,000. MV Capital Management Inc. grew its position in shares of American Express by 3.5% in the 2nd quarter. MV Capital Management Inc. now owns 1,448 shares of the payment services company’s stock valued at $122,000 after acquiring an additional 49 shares during the period. Finally, SRS Capital Advisors Inc. grew its position in shares of American Express by 10.3% in the 1st quarter. SRS Capital Advisors Inc. now owns 1,476 shares of the payment services company’s stock valued at $116,000 after acquiring an additional 138 shares during the period. 82.77% of the stock is owned by institutional investors.
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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