American Express Co. (NYSE:AXP) was downgraded by analysts at Nomura from a “neutral” rating to a “reduce” rating in a note issued to investors on Thursday. They currently have a $56.00 price objective on the payment services company’s stock, down from their previous price objective of $62.00. Nomura’s price objective points to a potential downside of 9.33% from the stock’s previous close.
AXP has been the subject of several other research reports. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $74.00 price objective on shares of American Express in a research note on Monday, September 12th. Credit Suisse Group AG reissued a “sell” rating and issued a $62.00 price target on shares of American Express in a research note on Friday, September 16th. Piper Jaffray Cos. reissued a “hold” rating and issued a $71.00 price target on shares of American Express in a research note on Wednesday, September 7th. JPMorgan Chase & Co. reissued a “hold” rating on shares of American Express in a research note on Thursday, June 30th. Finally, Vetr cut shares of American Express from a “strong-buy” rating to a “buy” rating and set a $67.47 price target for the company. in a research note on Monday, July 4th. Eight analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and eight have given a buy rating to the stock. American Express has an average rating of “Hold” and an average price target of $68.46.
Shares of American Express (NYSE:AXP) opened at 61.76 on Thursday. American Express has a 52-week low of $50.27 and a 52-week high of $77.61. The stock’s 50 day moving average is $64.52 and its 200 day moving average is $63.61. The firm has a market capitalization of $57.05 billion, a PE ratio of 10.93 and a beta of 1.24.
American Express (NYSE:AXP) last issued its quarterly earnings data on Wednesday, July 20th. The payment services company reported $2.10 EPS for the quarter, beating the consensus estimate of $1.95 by $0.15. The company earned $8.20 billion during the quarter, compared to analysts’ expectations of $8.33 billion. American Express had a net margin of 16.73% and a return on equity of 28.00%. American Express’s revenue for the quarter was down .6% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.42 earnings per share. On average, equities research analysts forecast that American Express will post $5.51 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 10th. Stockholders of record on Friday, October 7th will be given a $0.32 dividend. The ex-dividend date of this dividend is Wednesday, October 5th. 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 2.07%. American Express’s dividend payout ratio is currently 22.54%.
Hedge funds have recently added to or reduced their stakes in the company. Mycio Wealth Partners LLC increased 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 worth $100,000 after buying an additional 65 shares in the last quarter. Blume Capital Management Inc. increased its stake in shares of 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 valued at $105,000 after buying an additional 233 shares during the period. Capital Analysts LLC increased its stake in shares of American Express by 84.0% in the second quarter. Capital Analysts LLC now owns 2,631 shares of the payment services company’s stock valued at $107,000 after buying an additional 1,201 shares during the period. Feltz Wealth PLAN Inc. purchased a new stake in shares of American Express during the second quarter valued at approximately $112,000. Finally, Meeder Asset Management Inc. purchased a new stake in shares of American Express during the first quarter valued at approximately $133,000. 82.17% of the stock is currently owned by hedge funds and other institutional investors.
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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