Vetr Inc. Lowers American Express Co. (AXP) to Sell
Vetr cut shares of American Express Co. (NYSE:AXP) from a hold rating to a sell rating in a research note published on Monday morning. Vetr currently has $64.38 target price on the payment services company’s stock.
AXP has been the topic of several other reports. Oppenheimer Holdings Inc. restated a hold rating on shares of American Express in a research report on Thursday, July 21st. Jefferies Group restated a hold rating and issued a $60.00 price objective on shares of American Express in a research report on Saturday, October 22nd. Citigroup Inc. restated a buy rating on shares of American Express in a research report on Wednesday, August 10th. Nomura downgraded American Express from a neutral rating to a reduce rating and reduced their price objective for the company from $62.00 to $56.00 in a research report on Thursday, October 6th. Finally, Zacks Investment Research upgraded American Express from a hold rating to a buy rating and set a $75.00 price objective on the stock in a research report on Monday, October 24th. Seven investment analysts have rated the stock with a sell rating, eighteen have given a hold rating and eight have assigned a buy rating to the stock. The company presently has a consensus rating of Hold and an average target price of $67.18.
Shares of American Express (NYSE:AXP) opened at 68.74 on Monday. The company’s 50 day moving average price is $64.25 and its 200-day moving average price is $64.12. The firm has a market capitalization of $62.91 billion, a P/E ratio of 12.21 and a beta of 1.19. American Express has a 12 month low of $50.27 and a 12 month high of $73.35.
American Express (NYSE:AXP) last posted its earnings results on Wednesday, October 19th. The payment services company reported $1.24 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.96 by $0.28. The company had revenue of $7.80 billion for the quarter, compared to analyst estimates of $7.70 billion. American Express had a return on equity of 27.84% and a net margin of 16.67%. American Express’s revenue was down 5.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.24 earnings per share. On average, equities analysts predict that American Express will post $5.73 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 10th. Stockholders of record on Friday, October 7th will be issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.86%. The ex-dividend date 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 22.70%.
In related news, insider Ashwini Gupta sold 140,808 shares of the business’s stock in a transaction on Friday, October 21st. The shares were sold at an average price of $67.18, for a total value of $9,459,481.44. Following the transaction, the insider now owns 239,718 shares in the company, valued at $16,104,255.24. The transaction was disclosed in a document filed with the SEC, which is available through this link. Insiders own 0.78% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in AXP. Coronation Fund Managers Ltd. bought a new stake in American Express during the second quarter valued at $27,786,000. Heritage Investors Management Corp increased its stake in American Express by 1.2% in the second quarter. Heritage Investors Management Corp now owns 291,315 shares of the payment services company’s stock valued at $17,700,000 after buying an additional 3,320 shares during the last quarter. Strs Ohio increased its stake in American Express by 8.9% in the second quarter. Strs Ohio now owns 1,106,043 shares of the payment services company’s stock valued at $67,203,000 after buying an additional 90,367 shares during the last quarter. Manitou Investment Management Ltd. increased its stake in American Express by 21.1% in the second quarter. Manitou Investment Management Ltd. now owns 194,867 shares of the payment services company’s stock valued at $11,840,000 after buying an additional 34,000 shares during the last quarter. Finally, Renaissance Technologies LLC acquired a new stake in American Express during the first quarter valued at approximately $66,459,000. Institutional investors and hedge funds own 82.32% 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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