American Express (AXP) Lifted to “Buy” at Nomura

American Express (NYSE:AXP) was upgraded by analysts at Nomura from a “neutral” rating to a “buy” rating in a research note issued to investors on Monday, MarketBeat.com reports. The brokerage presently has a $108.00 price target on the payment services company’s stock. Nomura’s target price points to a potential upside of 14.04% from the company’s previous close.

Other equities research analysts have also issued research reports about the stock. Barclays boosted their price target on shares of American Express from $112.00 to $119.00 in a report on Friday, January 19th. Zacks Investment Research raised shares of American Express from a “hold” rating to a “buy” rating and set a $107.00 price target for the company in a report on Wednesday, November 1st. Oppenheimer set a $99.00 price target on shares of American Express and gave the stock a “buy” rating in a report on Thursday, October 19th. Bank of America boosted their price target on shares of American Express from $102.00 to $106.00 and gave the stock a “buy” rating in a report on Thursday, October 19th. Finally, Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $116.00 target price on shares of American Express in a research note on Friday, December 22nd. Two investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. American Express currently has a consensus rating of “Hold” and a consensus target price of $102.68.

Shares of American Express (NYSE:AXP) traded up $2.98 during midday trading on Monday, reaching $94.70. 7,385,685 shares of the company traded hands, compared to its average volume of 4,160,000. The stock has a market cap of $82,200.00, a price-to-earnings ratio of 31.67, a PEG ratio of 1.26 and a beta of 1.19. The company has a debt-to-equity ratio of 3.11, a quick ratio of 1.90 and a current ratio of 2.37. American Express has a 12 month low of $75.51 and a 12 month high of $102.39.

American Express (NYSE:AXP) last issued its quarterly earnings results on Thursday, January 18th. The payment services company reported $1.58 EPS for the quarter, topping the consensus estimate of $1.54 by $0.04. The company had revenue of $8.84 billion during the quarter, compared to analyst estimates of $8.73 billion. American Express had a net margin of 8.08% and a return on equity of 26.07%. The firm’s revenue was up 10.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.91 EPS. research analysts predict that American Express will post 7.13 EPS for the current fiscal year.

In other news, insider Ashwini Gupta sold 57,306 shares of the business’s stock in a transaction dated Tuesday, November 28th. The shares were sold at an average price of $95.04, for a total transaction of $5,446,362.24. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider James Peter Bush sold 12,789 shares of the business’s stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $99.45, for a total transaction of $1,271,866.05. Following the transaction, the insider now directly owns 92,504 shares in the company, valued at approximately $9,199,522.80. The disclosure for this sale can be found here. In the last three months, insiders have sold 326,110 shares of company stock worth $31,858,001. Corporate insiders own 0.67% of the company’s stock.

Hedge funds have recently made changes to their positions in the company. Capital Analysts LLC acquired a new position in American Express in the second quarter valued at about $115,000. Zions Bancorporation lifted its position in American Express by 912.9% in the third quarter. Zions Bancorporation now owns 1,337 shares of the payment services company’s stock valued at $121,000 after buying an additional 1,205 shares during the last quarter. Trustcore Financial Services LLC acquired a new position in American Express in the fourth quarter valued at about $128,000. Westside Investment Management Inc. lifted its position 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 during the last quarter. Finally, WFG Advisors LP lifted its position in American Express by 38.8% in the second quarter. WFG Advisors LP now owns 1,568 shares of the payment services company’s stock valued at $132,000 after buying an additional 438 shares during the last quarter. 83.37% of the stock is currently owned by hedge funds and other institutional investors.

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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).

Analyst Recommendations for American Express (NYSE:AXP)

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