American Express Co. (NYSE:AXP) Receives $69.44 Consensus PT from Brokerages
Shares of American Express Co. (NYSE:AXP) have received a consensus rating of “Hold” from the thirty-four research firms that are currently covering the stock. Seven investment analysts have rated the stock with a sell recommendation, nineteen have issued a hold recommendation and eight have issued a buy recommendation on the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $69.44.
A number of research firms recently commented on AXP. JPMorgan Chase & Co. reaffirmed a “hold” rating and issued a $68.00 price objective on shares of American Express in a research note on Thursday, June 9th. Vetr raised shares of American Express from a “sell” rating to a “hold” rating and set a $64.60 price objective for the company in a research note on Wednesday, June 8th. Atlantic Securities began coverage on shares of American Express in a research note on Friday, September 9th. They issued an “underweight” rating and a $62.00 price objective for the company. Goldman Sachs Group Inc. reaffirmed a “neutral” rating and issued a $67.00 price objective (up previously from $62.00) on shares of American Express in a research note on Tuesday, June 7th. Finally, Piper Jaffray Cos. reaffirmed a “hold” rating and issued a $71.00 price objective on shares of American Express in a research note on Wednesday, September 7th.
Shares of American Express (NYSE:AXP) opened at 64.22 on Monday. American Express has a one year low of $50.27 and a one year high of $77.85. The firm has a market capitalization of $59.33 billion, a P/E ratio of 11.36 and a beta of 1.24. The company has a 50-day moving average price of $64.94 and a 200 day moving average price of $63.48.
American Express (NYSE:AXP) last issued its earnings results on Wednesday, July 20th. The payment services company reported $2.10 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.95 by $0.15. The firm earned $8.20 billion during the quarter, compared to analysts’ expectations of $8.33 billion. American Express had a net margin of 16.73% and a return on equity of 28.00%. The firm’s revenue for the quarter was down .6% compared to the same quarter last year. During the same period last year, the firm posted $1.42 earnings per share. Analysts expect that American Express will post $5.51 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 10th. Stockholders of record on Friday, October 7th will be given a dividend of $0.32 per share. This is a positive change from American Express’s previous quarterly dividend of $0.29. This represents a $1.28 annualized dividend and a dividend yield of 1.99%. The ex-dividend date is Wednesday, October 5th. American Express’s payout ratio is 20.42%.
Several hedge funds have recently modified their holdings of the stock. Wellington Management Group LLP raised its position in American Express by 103.8% in the first quarter. Wellington Management Group LLP now owns 24,632,717 shares of the payment services company’s stock worth $1,512,449,000 after buying an additional 12,544,274 shares during the period. Dodge & Cox raised its position in American Express by 53.8% in the first quarter. Dodge & Cox now owns 26,360,258 shares of the payment services company’s stock worth $1,618,520,000 after buying an additional 9,222,970 shares during the period. Franklin Resources Inc. raised its position in American Express by 248.1% in the first quarter. Franklin Resources Inc. now owns 5,345,813 shares of the payment services company’s stock worth $328,233,000 after buying an additional 3,810,315 shares during the period. Emerald Acquisition Ltd. purchased a new position in American Express during the second quarter worth approximately $111,313,000. Finally, International Value Advisers LLC purchased a new position in American Express during the second quarter worth approximately $83,148,000. Institutional investors and hedge funds own 82.18% of the company’s stock.
About American Express
American Express Company is a services company. The Company’s principal products and services are charge and credit payment card products, and travel-related services offered to consumers and businesses around the world. The Company’s segments include U.S. Consumer Services (USCS), International Consumer and Network Services (ICNS), Global Commercial Services (GCS) and Global Merchant Services (GMS).
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