American Express Co. (NYSE:AXP) was downgraded by analysts at Vetr from a “buy” rating to a “strong sell” rating in a research note issued on Thursday. They presently have a $53.00 target price on the payment services company’s stock. Vetr‘s price objective suggests a potential downside of 12.27% from the company’s current price.
A number of other research firms also recently issued reports on AXP. Piper Jaffray Cos. reiterated a “hold” rating and issued a $71.00 price objective on shares of American Express in a report on Wednesday, September 7th. William Blair reiterated an “outperform” rating on shares of American Express in a report on Thursday, July 21st. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $74.00 price objective on shares of American Express in a report on Monday, September 12th. Deutsche Bank AG reiterated a “hold” rating on shares of American Express in a report on Wednesday, June 15th. Finally, Atlantic Securities started coverage on American Express in a report on Friday, September 9th. They issued an “underweight” rating and a $62.00 price objective for the company. Nine analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and seven have given a buy rating to the company. American Express presently has a consensus rating of “Hold” and a consensus target price of $67.88.
Shares of American Express (NYSE:AXP) traded down 0.46% during trading on Thursday, hitting $60.41. 4,220,483 shares of the company were exchanged. American Express has a 1-year low of $50.27 and a 1-year high of $77.61. The company has a 50 day moving average of $64.01 and a 200-day moving average of $63.60. The stock has a market capitalization of $55.81 billion, a PE ratio of 10.69 and a beta of 1.24.
American Express (NYSE:AXP) last announced its earnings results on Wednesday, July 20th. The payment services company reported $2.10 EPS for the quarter, beating analysts’ consensus estimates of $1.95 by $0.15. The company earned $8.20 billion during the quarter, compared to the consensus estimate of $8.33 billion. American Express had a return on equity of 28.00% and a net margin of 16.73%. The firm’s revenue for the quarter was down .6% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.42 earnings per share. On average, analysts forecast that American Express will post $5.51 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 10th. Investors of record on Friday, October 7th will be issued a dividend of $0.32 per share. The ex-dividend date is Wednesday, October 5th. This represents a $1.28 dividend on an annualized basis and a yield of 2.12%. This is a boost from American Express’s previous quarterly dividend of $0.29. American Express’s payout ratio is presently 22.54%.
A number of institutional investors have recently bought and sold shares of the stock. Wellington Management Group LLP boosted its position in American Express by 103.8% in the first quarter. Wellington Management Group LLP now owns 24,632,717 shares of the payment services company’s stock worth $1,512,449,000 after buying an additional 12,544,274 shares during the last quarter. Dodge & Cox boosted its position in American Express by 53.8% in the first quarter. Dodge & Cox now owns 26,360,258 shares of the payment services company’s stock worth $1,618,520,000 after buying an additional 9,222,970 shares during the last quarter. Franklin Resources Inc. boosted its position in American Express by 248.1% in the first quarter. Franklin Resources Inc. now owns 5,345,813 shares of the payment services company’s stock worth $328,233,000 after buying an additional 3,810,315 shares during the last quarter. Emerald Acquisition Ltd. acquired a new position in American Express during the second quarter worth about $111,313,000. Finally, International Value Advisers LLC acquired a new position in American Express during the second quarter worth about $83,148,000. 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).