American Express (NYSE:AXP) Receives $118.89 Consensus Price Target from Brokerages

American Express (NYSE:AXP) has been assigned a consensus rating of “Hold” from the eighteen ratings firms that are currently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, eight have given a hold recommendation and nine have given a buy recommendation to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $121.53.

Several research firms recently issued reports on AXP. Wells Fargo & Co increased their target price on American Express from $125.00 to $135.00 and gave the stock an “outperform” rating in a research note on Tuesday, June 18th. Bank of America began coverage on American Express in a research note on Wednesday, June 19th. They set a “buy” rating and a $145.00 target price on the stock. William Blair reissued an “outperform” rating on shares of American Express in a research note on Tuesday, June 18th. Jefferies Financial Group increased their target price on American Express from $105.00 to $130.00 and gave the stock a “hold” rating in a research note on Tuesday, June 18th. Finally, ValuEngine raised American Express from a “hold” rating to a “buy” rating in a research note on Monday, May 20th.

Shares of NYSE AXP traded down $0.98 during mid-day trading on Tuesday, reaching $123.16. 2,383,809 shares of the company’s stock were exchanged, compared to its average volume of 3,379,774. The firm has a market capitalization of $103.20 billion, a price-to-earnings ratio of 16.80, a price-to-earnings-growth ratio of 1.44 and a beta of 1.06. The company has a debt-to-equity ratio of 2.63, a current ratio of 1.88 and a quick ratio of 1.88. American Express has a 52-week low of $89.05 and a 52-week high of $126.40. The stock’s 50-day moving average is $119.81.

American Express (NYSE:AXP) last posted its earnings results on Thursday, April 18th. The payment services company reported $2.01 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.00 by $0.01. American Express had a return on equity of 29.86% and a net margin of 16.60%. The firm had revenue of $10.36 billion for the quarter, compared to analyst estimates of $10.46 billion. During the same quarter in the prior year, the company earned $1.86 EPS. American Express’s revenue was up 6.6% on a year-over-year basis. On average, sell-side analysts forecast that American Express will post 8.12 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, August 9th. Shareholders of record on Friday, July 5th will be given a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 1.27%. The ex-dividend date is Wednesday, July 3rd. American Express’s dividend payout ratio is currently 21.28%.

In other American Express news, Chairman Stephen J. Squeri sold 101,964 shares of the stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $119.95, for a total value of $12,230,581.80. Following the sale, the chairman now owns 258,948 shares of the company’s stock, valued at approximately $31,060,812.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Jeffrey C. Campbell sold 6,500 shares of the stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $122.93, for a total value of $799,045.00. Following the completion of the sale, the chief financial officer now directly owns 68,379 shares in the company, valued at approximately $8,405,830.47. The disclosure for this sale can be found here. Insiders sold a total of 183,797 shares of company stock worth $21,861,060 in the last ninety days. 0.21% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Camarda Financial Advisors LLC purchased a new position in American Express during the 1st quarter worth approximately $26,000. Creative Financial Designs Inc. ADV purchased a new position in American Express during the 1st quarter worth approximately $28,000. Pearl River Capital LLC purchased a new position in American Express during the 4th quarter worth approximately $25,000. JNBA Financial Advisors purchased a new position in American Express during the 4th quarter worth approximately $26,000. Finally, Clarfeld Financial Advisors LLC purchased a new position in American Express during the 4th quarter worth approximately $31,000. 83.61% of the stock is currently owned by institutional investors and hedge funds.

About American Express

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 three segments: Global Consumer Services Group, Global Commercial Services, and Global Merchant and Network Services.

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Analyst Recommendations for American Express (NYSE:AXP)

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