Stephens Reiterates $89.00 Price Target for American Express Company (AXP)
American Express Company (NYSE:AXP) received a $89.00 price objective from equities research analysts at Stephens in a research report issued to clients and investors on Thursday. The firm presently has a “hold” rating on the payment services company’s stock. Stephens’ target price suggests a potential downside of 3.36% from the stock’s previous close.
AXP has been the topic of a number of other research reports. Jefferies Group LLC reiterated an “in-line” rating and issued a $93.00 target price (up previously from $85.00) on shares of American Express in a research note on Thursday. BidaskClub upgraded American Express from a “sell” rating to a “hold” rating in a research note on Tuesday, August 8th. Buckingham Research initiated coverage on American Express in a research note on Monday, October 2nd. They set a “neutral” rating and a $92.00 price target on the stock. Zacks Investment Research upgraded American Express from a “hold” rating to a “buy” rating and set a $96.00 price target on the stock in a research note on Tuesday, August 29th. Finally, Instinet restated an “underperform” rating and set a $80.00 price target on shares of American Express in a research note on Thursday, June 29th. Three analysts have rated the stock with a sell rating, sixteen have issued a hold rating and thirteen have issued 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 (AXP) traded up 0.21% during mid-day trading on Thursday, reaching $92.09. 4,442,193 shares of the company traded hands. American Express has a 12-month low of $65.03 and a 12-month high of $93.35. The firm has a market capitalization of $81.41 billion, a P/E ratio of 17.68 and a beta of 1.21. The company’s 50 day moving average price is $89.20 and its 200 day moving average price is $83.54.
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, topping analysts’ consensus estimates of $1.47 by $0.03. American Express had a return on equity of 22.75% and a net margin of 14.48%. The business had revenue of $8.44 billion for the quarter, compared to analyst estimates of $8.31 billion. During the same quarter last year, the firm posted $1.24 earnings per share. The business’s revenue was up 8.5% compared to the same quarter last year. Equities research analysts predict that American Express will post $5.84 EPS for the current year.
American Express declared that its board has authorized a share buyback program on Wednesday, June 28th that authorizes the company to buyback $4.40 billion in outstanding shares. This buyback authorization authorizes the payment services company to reacquire up to 5.9% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.
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In other American Express news, insider Anre D. Williams sold 53,111 shares of the business’s stock in a transaction on Monday, July 31st. The stock was sold at an average price of $85.24, for a total transaction of $4,527,181.64. Following the transaction, the insider now owns 79,614 shares of the company’s stock, valued at $6,786,297.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Vice Chairman Stephen J. Squeri sold 94,792 shares of the business’s stock in a transaction on Tuesday, July 25th. The stock was sold at an average price of $85.41, for a total value of $8,096,184.72. Following the transaction, the insider now directly owns 261,665 shares in the company, valued at approximately $22,348,807.65. The disclosure for this sale can be found here. Insiders have sold 953,636 shares of company stock worth $80,863,777 in the last three months. 0.67% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. MCF Advisors LLC lifted its stake 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 purchasing an additional 4 shares during the last quarter. Farmers & Merchants Trust Co of Chambersburg PA lifted its stake 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 purchasing an additional 300 shares during the last quarter. Capital Analysts LLC acquired a new position in shares of American Express in the 2nd quarter valued at $115,000. MV Capital Management Inc. lifted its stake 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 purchasing an additional 49 shares during the last quarter. Finally, SRS Capital Advisors Inc. lifted its stake 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 purchasing an additional 138 shares during the last quarter. 82.77% of the stock is currently 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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