American Express (NYSE:AXP) had its price objective reduced by Piper Sandler from $202.00 to $163.00 in a research note published on Wednesday morning, The Fly reports. Piper Sandler currently has an overweight rating on the payment services company’s stock.
Several other equities research analysts have also recently weighed in on the company. Citigroup boosted their target price on American Express from $187.00 to $190.00 and gave the stock a neutral rating in a research note on Tuesday, April 26th. Royal Bank of Canada boosted their target price on American Express from $195.00 to $200.00 and gave the stock a sector perform rating in a research note on Monday, April 25th. StockNews.com started coverage on American Express in a research note on Thursday, March 31st. They issued a hold rating for the company. Wolfe Research cut American Express from an outperform rating to a peer perform rating and reduced their price objective for the company from $213.00 to $146.00 in a research note on Thursday, May 12th. Finally, Bank of America boosted their price objective on American Express from $204.00 to $206.00 in a research note on Thursday, March 17th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, American Express currently has a consensus rating of Hold and a consensus price target of $190.72.
Shares of AXP opened at $138.15 on Wednesday. The stock has a 50-day simple moving average of $156.45 and a 200-day simple moving average of $171.34. The company has a debt-to-equity ratio of 1.71, a quick ratio of 1.63 and a current ratio of 1.63. The stock has a market capitalization of $104.04 billion, a PE ratio of 13.84, a PEG ratio of 1.08 and a beta of 1.15. American Express has a 1 year low of $134.30 and a 1 year high of $199.55.
American Express (NYSE:AXP – Get Rating) last announced its quarterly earnings data on Friday, April 22nd. The payment services company reported $2.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.43 by $0.30. The business had revenue of $11.74 billion during the quarter, compared to analysts’ expectations of $11.66 billion. American Express had a return on equity of 33.35% and a net margin of 17.49%. The business’s quarterly revenue was up 29.5% compared to the same quarter last year. During the same quarter last year, the business posted $1.74 EPS. Analysts predict that American Express will post 9.76 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 10th. Investors of record on Friday, July 1st will be issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 1.51%. The ex-dividend date of this dividend is Thursday, June 30th. American Express’s dividend payout ratio is presently 20.84%.
In other American Express news, CEO Stephen J. Squeri sold 48,160 shares of the company’s stock in a transaction on Thursday, April 28th. The stock was sold at an average price of $178.38, for a total value of $8,590,780.80. Following the sale, the chief executive officer now owns 31,285 shares of the company’s stock, valued at $5,580,618.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Theodore Leonsis sold 4,005 shares of the company’s stock in a transaction on Friday, June 3rd. The shares were sold at an average price of $166.63, for a total value of $667,353.15. The disclosure for this sale can be found here. 0.11% of the stock is currently owned by corporate insiders.
Several large investors have recently modified their holdings of the company. Harel Insurance Investments & Financial Services Ltd. lifted its position in shares of American Express by 6.9% in the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 849 shares of the payment services company’s stock valued at $139,000 after acquiring an additional 55 shares in the last quarter. Ropes Wealth Advisors LLC lifted its position in American Express by 0.3% during the fourth quarter. Ropes Wealth Advisors LLC now owns 19,599 shares of the payment services company’s stock worth $3,206,000 after buying an additional 55 shares during the period. Associated Banc Corp lifted its position in American Express by 0.7% during the fourth quarter. Associated Banc Corp now owns 8,402 shares of the payment services company’s stock worth $1,375,000 after buying an additional 55 shares during the period. Wesbanco Bank Inc. lifted its position in American Express by 1.3% during the first quarter. Wesbanco Bank Inc. now owns 4,426 shares of the payment services company’s stock worth $827,000 after buying an additional 55 shares during the period. Finally, Grove Bank & Trust lifted its position in American Express by 1.7% during the first quarter. Grove Bank & Trust now owns 3,472 shares of the payment services company’s stock worth $649,000 after buying an additional 57 shares during the period. Institutional investors and hedge funds own 85.49% of the company’s stock.
American Express Company Profile (Get Rating)
American Express Company, together with its subsidiaries, provides charge and credit payment card products, and travel-related services worldwide. The company operates through three segments: Global Consumer Services Group, Global Commercial Services, and Global Merchant and Network Services. Its products and services include payment and financing products; network services; accounts payable expense management products and services; and travel and lifestyle services.
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