Oppenheimer set a $117.00 price objective on American Express (NYSE:AXP) in a research note released on Friday morning. The brokerage currently has a buy rating on the payment services company’s stock.
AXP has been the topic of several other research reports. Credit Suisse Group reiterated an underperform rating and set a $84.00 price objective (up previously from $79.00) on shares of American Express in a research report on Thursday, October 19th. Wells Fargo & Co reiterated an outperform rating and set a $115.00 price objective (up previously from $105.00) on shares of American Express in a research report on Tuesday, January 9th. ValuEngine cut shares of American Express from a buy rating to a hold rating in a research report on Friday, December 1st. Bank of America reiterated a buy rating and set a $102.00 price objective on shares of American Express in a research report on Monday, October 9th. Finally, Morgan Stanley lifted their price objective on shares of American Express from $89.00 to $97.00 and gave the company an equal weight rating in a research report on Thursday, October 19th. Two equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and fourteen have assigned a buy rating to the company. American Express has an average rating of Hold and a consensus target price of $100.80.
Shares of American Express (AXP) traded down $1.83 during trading hours on Friday, reaching $98.03. 12,292,342 shares of the company’s stock traded hands, compared to its average volume of 3,170,000. The stock has a market capitalization of $85,090.00, a P/E ratio of 18.92, a P/E/G ratio of 1.40 and a beta of 1.22. The company has a debt-to-equity ratio of 2.31, a current ratio of 1.90 and a quick ratio of 1.90. American Express has a twelve month low of $75.39 and a twelve month high of $102.39.
American Express (NYSE:AXP) last released its quarterly earnings data on Thursday, January 18th. The payment services company reported $1.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.54 by $0.04. The firm had revenue of $8.84 billion for the quarter, compared to analysts’ expectations of $8.73 billion. American Express had a net margin of 8.08% and a return on equity of 25.12%. The company’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.91 earnings per share. research analysts expect that American Express will post 6.96 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, February 9th. Investors of record on Friday, January 5th will be given a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 1.43%. The ex-dividend date of this dividend is Thursday, January 4th. American Express’s dividend payout ratio is presently 27.03%.
In related news, insider Anre D. Williams sold 30,761 shares of the business’s stock in a transaction on Wednesday, October 25th. The shares were sold at an average price of $93.41, for a total value of $2,873,385.01. Following the sale, the insider now owns 28,720 shares in the company, valued at $2,682,735.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Kenneth I. Chenault sold 96,440 shares of the business’s stock in a transaction on Thursday, December 14th. The stock was sold at an average price of $97.30, for a total transaction of $9,383,612.00. Following the completion of the sale, the chief executive officer now owns 1,178,333 shares in the company, valued at approximately $114,651,800.90. The disclosure for this sale can be found here. Insiders sold 442,869 shares of company stock worth $42,823,869 in the last 90 days. 0.67% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Farmers & Merchants Trust Co of Chambersburg PA boosted its stake in American Express by 30.4% during the second quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 1,288 shares of the payment services company’s stock worth $109,000 after buying an additional 300 shares during the period. Zions Bancorporation boosted its stake in American Express by 912.9% during the third quarter. Zions Bancorporation now owns 1,337 shares of the payment services company’s stock worth $121,000 after buying an additional 1,205 shares during the period. Capital Analysts LLC purchased a new position in American Express during the second quarter worth $115,000. MV Capital Management Inc. boosted its stake in American Express by 3.5% during the second quarter. MV Capital Management Inc. now owns 1,448 shares of the payment services company’s stock worth $122,000 after buying an additional 49 shares during the period. Finally, Westside Investment Management Inc. boosted its stake in American Express by 0.5% during the second quarter. Westside Investment Management Inc. now owns 1,536 shares of the payment services company’s stock worth $129,000 after buying an additional 8 shares during the period. 83.36% of the stock is owned by institutional investors.
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About American Express
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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