American Express Co. (NYSE:AXP)‘s stock had its “hold” rating reissued by Evercore ISI in a research note issued to investors on Saturday.
Several other equities analysts have also issued reports on the company. Vetr raised American Express from a “buy” rating to a “strong-buy” rating and set a $67.47 price target on the stock in a research note on Monday, June 27th. Nomura lowered American Express from a “neutral” rating to a “reduce” rating and cut their price target for the company from $62.00 to $56.00 in a research note on Thursday, October 6th. Wells Fargo & Co. reaffirmed a “hold” rating and set a $65.00 price target on shares of American Express in a research note on Sunday, July 10th. Credit Suisse Group AG reaffirmed a “sell” rating and set a $62.00 price target on shares of American Express in a research note on Thursday, July 14th. Finally, JPMorgan Chase & Co. reaffirmed a “neutral” rating on shares of American Express in a research note on Sunday, July 24th. Nine investment analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and seven have issued a buy rating to the company’s stock. American Express presently has an average rating of “Hold” and a consensus price target of $67.88.
Shares of American Express (NYSE:AXP) traded down 0.43% during midday trading on Friday, reaching $60.15. The company’s stock had a trading volume of 4,963,849 shares. The stock has a 50-day moving average of $63.87 and a 200 day moving average of $63.60. American Express has a 12 month low of $50.27 and a 12 month high of $77.61. The company has a market cap of $55.57 billion, a price-to-earnings ratio of 10.64 and a beta of 1.24.
American Express (NYSE:AXP) last posted its quarterly earnings data on Wednesday, July 20th. The payment services company reported $2.10 EPS for the quarter, topping analysts’ consensus estimates of $1.95 by $0.15. The company had revenue of $8.20 billion for the quarter, compared to analyst estimates of $8.33 billion. American Express had a return on equity of 28.00% and a net margin of 16.73%. The business’s revenue was down .6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.42 earnings per share. On average, analysts predict that American Express will post $5.51 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 paid a $0.32 dividend. This is a positive change from American Express’s previous quarterly dividend of $0.29. The ex-dividend date is Wednesday, October 5th. This represents a $1.28 annualized dividend and a dividend yield of 2.13%. American Express’s dividend payout ratio (DPR) is presently 22.54%.
Several institutional investors have recently modified their holdings of the stock. BlackRock Japan Co. Ltd raised its position in shares of American Express by 2.0% in the first quarter. BlackRock Japan Co. Ltd now owns 1,145,525 shares of the payment services company’s stock valued at $70,335,000 after buying an additional 22,874 shares during the last quarter. Tobam acquired a new position in shares of American Express during the first quarter valued at about $1,377,000. Holowesko Partners Ltd. acquired a new position in shares of American Express during the first quarter valued at about $31,928,000. NN Investment Partners Holdings N.V. acquired a new position in shares of American Express during the first quarter valued at about $2,778,000. Finally, Champlain Investment Partners LLC acquired a new position in shares of American Express during the first quarter valued at about $215,000. Institutional investors own 82.17% 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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