Vetr Inc. Lowers American Express Co. (AXP) to Strong Sell
American Express Co. (NYSE:AXP) was downgraded by analysts at Vetr from a “sell” rating to a “strong sell” rating in a report issued on Tuesday. They currently have a $64.38 target price on the payment services company’s stock. Vetr‘s price target suggests a potential downside of 11.10% from the stock’s previous close.
Other equities analysts have also recently issued research reports about the stock. Oppenheimer Holdings Inc. reiterated a “hold” rating on shares of American Express in a research note on Thursday, July 21st. Citigroup Inc. reiterated a “buy” rating on shares of American Express in a research note on Wednesday, August 10th. Jefferies Group reiterated a “hold” rating and issued a $60.00 price target on shares of American Express in a research note on Saturday, October 22nd. Nomura cut shares of American Express from a “neutral” rating to a “reduce” rating and dropped their price target for the stock from $62.00 to $56.00 in a research note on Thursday, October 6th. Finally, Zacks Investment Research upgraded shares of American Express from a “hold” rating to a “buy” rating and set a $75.00 price target on the stock in a research note on Monday, October 24th. Seven research analysts have rated the stock with a sell rating, nineteen have given a hold rating and seven have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $67.18.
American Express (NYSE:AXP) opened at 72.42 on Tuesday. American Express has a 12 month low of $50.27 and a 12 month high of $73.35. The company has a market cap of $66.28 billion, a price-to-earnings ratio of 12.87 and a beta of 1.19. The firm’s 50-day moving average is $64.58 and its 200-day moving average is $64.20.
American Express (NYSE:AXP) last announced its quarterly earnings results on Wednesday, October 19th. The payment services company reported $1.24 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.96 by $0.28. The company had revenue of $7.80 billion for the quarter, compared to analysts’ expectations of $7.70 billion. American Express had a net margin of 16.67% and a return on equity of 27.84%. American Express’s revenue was down 5.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.24 EPS. On average, analysts anticipate that American Express will post $5.73 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, November 10th. Stockholders of record on Friday, October 7th were given a dividend of $0.32 per share. This is an increase from American Express’s previous quarterly dividend of $0.29. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.77%. The ex-dividend date of this dividend was Wednesday, October 5th. American Express’s dividend payout ratio is currently 22.70%.
In related news, insider Ashwini Gupta sold 140,808 shares of the stock in a transaction on Friday, October 21st. The stock was sold at an average price of $67.18, for a total transaction of $9,459,481.44. Following the sale, the insider now owns 239,718 shares in the company, valued at approximately $16,104,255.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Susan Sobbott sold 19,186 shares of the stock in a transaction on Friday, November 11th. The shares were sold at an average price of $70.45, for a total value of $1,351,653.70. Following the sale, the insider now owns 56,870 shares in the company, valued at approximately $4,006,491.50. The disclosure for this sale can be found here. Corporate insiders own 0.78% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in AXP. Mycio Wealth Partners LLC raised its stake in American Express by 4.1% in the second quarter. Mycio Wealth Partners LLC now owns 1,638 shares of the payment services company’s stock valued at $100,000 after buying an additional 65 shares during the last quarter. Blume Capital Management Inc. raised its stake in American Express by 15.5% in the second quarter. Blume Capital Management Inc. now owns 1,733 shares of the payment services company’s stock worth $105,000 after buying an additional 233 shares during the last quarter. Capital Analysts LLC raised its stake in American Express by 84.0% in the second quarter. Capital Analysts LLC now owns 2,631 shares of the payment services company’s stock worth $107,000 after buying an additional 1,201 shares during the last quarter. Feltz Wealth PLAN Inc. acquired a new stake in American Express during the second quarter worth $112,000. Finally, Motco raised its stake in American Express by 31.6% in the third quarter. Motco now owns 1,815 shares of the payment services company’s stock worth $116,000 after buying an additional 436 shares during the last quarter. Institutional investors own 82.99% 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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