American Express (NYSE:AXP) had its target price hoisted by Monness Crespi & Hardt from $265.00 to $300.00 in a research note published on Monday morning, MarketBeat Ratings reports. They currently have a buy rating on the payment services company’s stock.
Several other brokerages have also recently issued reports on AXP. Barclays lifted their target price on American Express from $223.00 to $250.00 and gave the company an equal weight rating in a research report on Tuesday, October 8th. The Goldman Sachs Group upped their target price on shares of American Express from $270.00 to $300.00 and gave the stock a buy rating in a research note on Monday, October 7th. Compass Point started coverage on shares of American Express in a research report on Tuesday, July 16th. They set a neutral rating and a $260.00 price target on the stock. JPMorgan Chase & Co. downgraded shares of American Express from an overweight rating to a neutral rating and upped their price objective for the stock from $268.00 to $286.00 in a research report on Monday, October 7th. Finally, Jefferies Financial Group lifted their target price on shares of American Express from $225.00 to $235.00 and gave the stock a hold rating in a research report on Tuesday, July 9th. Four research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of Hold and an average target price of $242.33.
View Our Latest Stock Report on AXP
American Express Stock Performance
American Express (NYSE:AXP – Get Free Report) last posted its earnings results on Friday, July 19th. The payment services company reported $3.49 EPS for the quarter, topping the consensus estimate of $3.26 by $0.23. American Express had a net margin of 15.53% and a return on equity of 32.94%. The company had revenue of $16.33 billion during the quarter, compared to the consensus estimate of $16.60 billion. During the same period in the previous year, the firm posted $2.89 earnings per share. The firm’s revenue for the quarter was up 9.2% on a year-over-year basis. Sell-side analysts predict that American Express will post 13.14 earnings per share for the current fiscal year.
American Express Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Friday, October 4th will be paid a dividend of $0.70 per share. The ex-dividend date is Friday, October 4th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.01%. American Express’s payout ratio is 23.06%.
Hedge Funds Weigh In On American Express
A number of large investors have recently modified their holdings of the company. Sovereign Financial Group Inc. raised its holdings in shares of American Express by 2.7% in the 3rd quarter. Sovereign Financial Group Inc. now owns 1,467 shares of the payment services company’s stock valued at $398,000 after acquiring an additional 38 shares in the last quarter. Sawgrass Asset Management LLC lifted its holdings in American Express by 0.4% in the 2nd quarter. Sawgrass Asset Management LLC now owns 10,384 shares of the payment services company’s stock worth $2,404,000 after buying an additional 41 shares during the period. Davis Investment Partners LLC boosted its holdings in American Express by 0.5% in the third quarter. Davis Investment Partners LLC now owns 8,011 shares of the payment services company’s stock valued at $2,170,000 after acquiring an additional 42 shares in the last quarter. Ignite Planners LLC boosted its stake in shares of American Express by 0.9% during the 2nd quarter. Ignite Planners LLC now owns 4,682 shares of the payment services company’s stock valued at $1,103,000 after purchasing an additional 43 shares in the last quarter. Finally, Willner & Heller LLC grew its holdings in shares of American Express by 4.1% during the 2nd quarter. Willner & Heller LLC now owns 1,087 shares of the payment services company’s stock worth $252,000 after acquiring an additional 43 shares during the period. 84.33% of the stock is currently owned by institutional investors.
About American Express
American Express Company, together with its subsidiaries, operates as integrated payments company in the United States, Europe, the Middle East and Africa, the Asia Pacific, Australia, New Zealand, Latin America, Canada, the Caribbean, and Internationally. It operates through four segments: U.S. Consumer Services, Commercial Services, International Card Services, and Global Merchant and Network Services.
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