American Express (AXP) Target Price Lowered to $115.00

American Express (AXP) Target Price Lowered to $115.00

American Express (NYSE:AXP) had its target price cut by equities researchers at Wells Fargo & Co from $122.00 to $115.00 in a report released on Thursday, January 3rd. The brokerage presently has an “outperform” rating on the payment services company’s stock. Wells Fargo & Co‘s target price indicates a potential upside of 17.04% from the stock’s current price.

A number of other analysts have also weighed in on AXP. Nomura increased their price objective on American Express from $128.00 to $130.00 and gave the company a “buy” rating in a research note on Friday, October 19th. BMO Capital Markets increased their price objective on American Express from $106.00 to $110.00 and gave the company a “market perform” rating in a research note on Friday, October 19th. Bank of America lowered American Express from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $125.00 to $115.00 in a research note on Wednesday, December 19th. Stephens set a $131.00 price objective on American Express and gave the company a “buy” rating in a research note on Saturday, October 20th. Finally, Morgan Stanley raised their price target on American Express from $109.00 to $115.00 and gave the stock an “equal weight” rating in a research note on Friday, October 19th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and eleven have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $111.43.

Shares of AXP stock remained flat at $$98.26 during trading on Thursday. 1,433,235 shares of the company traded hands, compared to its average volume of 4,378,649. The company has a debt-to-equity ratio of 2.58, a quick ratio of 1.88 and a current ratio of 1.88. The company has a market capitalization of $84.43 billion, a PE ratio of 16.74, a price-to-earnings-growth ratio of 1.15 and a beta of 1.14. American Express has a one year low of $87.54 and a one year high of $114.55.

American Express (NYSE:AXP) last posted its quarterly earnings data on Thursday, October 18th. The payment services company reported $1.88 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.77 by $0.11. The company had revenue of $10.14 billion for the quarter, compared to analysts’ expectations of $10.06 billion. American Express had a net margin of 9.51% and a return on equity of 31.26%. American Express’s revenue for the quarter was up 9.2% compared to the same quarter last year. During the same period in the prior year, the business earned $1.50 earnings per share. Equities analysts anticipate that American Express will post 7.38 earnings per share for the current fiscal year.

In other news, Chairman Stephen J. Squeri sold 12,500 shares of the firm’s stock in a transaction on Thursday, November 1st. The stock was sold at an average price of $103.84, for a total transaction of $1,298,000.00. Following the completion of the transaction, the chairman now directly owns 209,957 shares in the company, valued at $21,801,934.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.20% of the stock is owned by company insiders.

Several large investors have recently modified their holdings of AXP. Vanguard Group Inc. boosted its position in shares of American Express by 0.7% during the third quarter. Vanguard Group Inc. now owns 49,872,420 shares of the payment services company’s stock valued at $5,310,914,000 after buying an additional 364,282 shares during the last quarter. Vanguard Group Inc boosted its position in shares of American Express by 0.7% during the third quarter. Vanguard Group Inc now owns 49,872,420 shares of the payment services company’s stock valued at $5,310,914,000 after buying an additional 364,282 shares during the last quarter. BlackRock Inc. boosted its position in shares of American Express by 2.4% during the third quarter. BlackRock Inc. now owns 45,176,984 shares of the payment services company’s stock valued at $4,810,897,000 after buying an additional 1,045,964 shares during the last quarter. FMR LLC boosted its position in shares of American Express by 71.6% during the third quarter. FMR LLC now owns 16,447,370 shares of the payment services company’s stock valued at $1,751,481,000 after buying an additional 6,861,701 shares during the last quarter. Finally, Fisher Asset Management LLC boosted its position in shares of American Express by 2.4% during the third quarter. Fisher Asset Management LLC now owns 10,357,743 shares of the payment services company’s stock valued at $1,102,996,000 after buying an additional 246,871 shares during the last quarter. Hedge funds and other institutional investors own 82.83% of the company’s stock.

American Express Company Profile

American Express Company, together with its subsidiaries, provides charge and credit payment card products and travel-related services to consumers and businesses worldwide. It operates through four segments: U.S. Consumer Services, International Consumer and Network Services, Global Commercial Services, and Global Merchant Services.

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