American Express Co. (AXP) Earns “Hold” Rating from Evercore ISI
American Express Co. (NYSE:AXP)‘s stock had its “hold” rating reaffirmed by Evercore ISI in a research report issued to clients and investors on Saturday.
Several other analysts have also recently commented on the stock. Vetr cut shares of American Express from a “buy” rating to a “strong sell” rating and set a $53.00 target price for the company. in a research note on Thursday. Nomura cut shares of American Express from a “neutral” rating to a “reduce” rating and reduced their target price for the stock from $62.00 to $56.00 in a research note on Thursday, October 6th. Credit Suisse Group AG restated a “sell” rating and issued a $62.00 target price on shares of American Express in a research note on Friday, September 16th. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $74.00 target price on shares of American Express in a research note on Monday, September 12th. Finally, Atlantic Securities assumed coverage on shares of American Express in a research note on Friday, September 9th. They issued an “underweight” rating and a $62.00 target price for the company. Nine investment analysts have rated the stock with a sell rating, nineteen have given a hold rating and seven have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $67.88.
American Express (NYSE:AXP) opened at 60.15 on Friday. The firm has a market capitalization of $55.57 billion, a price-to-earnings ratio of 10.64 and a beta of 1.24. American Express has a 52-week low of $50.27 and a 52-week high of $77.61. The company’s 50-day moving average is $63.87 and its 200-day moving average is $63.60.
American Express (NYSE:AXP) last released its earnings results on Wednesday, July 20th. The payment services company reported $2.10 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.95 by $0.15. American Express had a net margin of 16.73% and a return on equity of 28.00%. The company earned $8.20 billion during the quarter, compared to analysts’ expectations of $8.33 billion. During the same quarter last year, the business earned $1.42 EPS. The business’s revenue was down .6% on a year-over-year basis. Equities analysts predict that American Express will post $5.51 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, November 10th. Investors of record on Friday, October 7th will be paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.13%. The ex-dividend date of this dividend is Wednesday, October 5th. This is a positive change from American Express’s previous quarterly dividend of $0.29. American Express’s payout ratio is 22.54%.
Several hedge funds have recently modified their holdings of AXP. Canada Pension Plan Investment Board raised its stake in shares of American Express by 19.8% in the first quarter. Canada Pension Plan Investment Board now owns 1,339,650 shares of the payment services company’s stock worth $82,255,000 after buying an additional 221,600 shares during the period. Willis Investment Counsel raised its stake in shares of American Express by 1.4% in the first quarter. Willis Investment Counsel now owns 31,700 shares of the payment services company’s stock worth $1,946,000 after buying an additional 450 shares during the period. Credit Agricole S A raised its stake in shares of American Express by 21.0% in the first quarter. Credit Agricole S A now owns 442,073 shares of the payment services company’s stock worth $27,143,000 after buying an additional 76,790 shares during the period. AMF Pensionsforsakring AB raised its stake in shares of American Express by 7.8% in the first quarter. AMF Pensionsforsakring AB now owns 225,557 shares of the payment services company’s stock worth $13,849,000 after buying an additional 16,400 shares during the period. Finally, Associated Banc Corp raised its stake in shares of American Express by 0.5% in the first quarter. Associated Banc Corp now owns 7,647 shares of the payment services company’s stock worth $470,000 after buying an additional 41 shares during the period. Institutional investors and hedge funds own 82.17% of the company’s stock.
American Express Company Profile
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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