American Express (NYSE:AXP) had its price objective increased by equities researchers at Morgan Stanley from $113.00 to $117.00 in a report released on Monday, BenzingaRatingsTable reports. The brokerage presently has an “overweight” rating on the payment services company’s stock. Morgan Stanley’s target price suggests a potential upside of 5.92% from the stock’s previous close.
Several other research firms have also recently commented on AXP. JPMorgan Chase & Co. cut their price target on American Express from $137.50 to $93.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 18th. DZ Bank upgraded American Express from a “hold” rating to a “buy” rating in a research note on Tuesday, March 3rd. TheStreet cut American Express from a “b-” rating to a “c+” rating in a research note on Friday, April 3rd. Cfra cut their price objective on American Express from $140.00 to $96.00 and set a “hold” rating on the stock in a research note on Friday, April 3rd. Finally, Susquehanna Bancshares cut their price objective on American Express from $135.00 to $120.00 in a research note on Monday, April 27th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have given a buy rating to the stock. American Express has a consensus rating of “Hold” and an average target price of $110.00.
NYSE:AXP opened at $110.46 on Monday. The company has a debt-to-equity ratio of 2.50, a quick ratio of 1.76 and a current ratio of 1.76. American Express has a one year low of $67.00 and a one year high of $138.13. The business’s 50-day simple moving average is $90.77 and its 200 day simple moving average is $108.91. The stock has a market cap of $91.50 billion, a price-to-earnings ratio of 16.76, a price-to-earnings-growth ratio of 2.27 and a beta of 1.12.
American Express (NYSE:AXP) last released its quarterly earnings results on Friday, April 24th. The payment services company reported $1.98 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.69 by $0.29. American Express had a return on equity of 30.21% and a net margin of 12.74%. The business had revenue of $10.31 billion for the quarter, compared to analysts’ expectations of $10.67 billion. During the same quarter in the previous year, the firm posted $2.01 earnings per share. The company’s revenue was down .5% compared to the same quarter last year. On average, equities research analysts predict that American Express will post 4.64 EPS for the current year.
Hedge funds have recently modified their holdings of the stock. Blue Sky Asset Management LLC bought a new position in American Express in the 4th quarter worth approximately $1,371,000. Clarius Group LLC grew its holdings in American Express by 16.6% in the 1st quarter. Clarius Group LLC now owns 5,687 shares of the payment services company’s stock worth $487,000 after buying an additional 810 shares in the last quarter. Bluefin Trading LLC bought a new position in American Express in the 4th quarter worth approximately $2,213,000. Amalgamated Bank grew its holdings in American Express by 3.2% in the 4th quarter. Amalgamated Bank now owns 109,410 shares of the payment services company’s stock worth $13,620,000 after buying an additional 3,420 shares in the last quarter. Finally, Cambridge Trust Co. grew its holdings in American Express by 5.5% in the 1st quarter. Cambridge Trust Co. now owns 38,764 shares of the payment services company’s stock worth $3,319,000 after buying an additional 2,037 shares in the last quarter. 84.69% of the stock is 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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