American Express (AXP) Stock Rating Lowered by Buckingham Research

American Express (NYSE:AXP) was downgraded by investment analysts at Buckingham Research from a “buy” rating to a “neutral” rating in a research note issued to investors on Thursday, MarketBeat Ratings reports. They presently have a $112.00 price target on the payment services company’s stock. Buckingham Research’s price objective would suggest a potential downside of 0.24% from the company’s previous close. The analysts noted that the move was a valuation call.

A number of other equities research analysts have also issued reports on the company. Nomura upped their price target on American Express from $128.00 to $130.00 and gave the company a “buy” rating in a research report on Friday, October 19th. BMO Capital Markets upped their price target on American Express from $106.00 to $110.00 and gave the company a “market perform” rating in a research report on Friday, October 19th. Stephens set a $131.00 price target on American Express and gave the company a “buy” rating in a research report on Saturday, October 20th. Morgan Stanley upped their price target on American Express from $109.00 to $115.00 and gave the company an “equal weight” rating in a research report on Friday, October 19th. Finally, Wells Fargo & Co upped their price target on American Express from $115.00 to $122.00 and gave the company an “outperform” rating in a research report on Monday, October 1st. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and fifteen have given a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $112.70.

AXP stock opened at $112.27 on Thursday. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 2.58. The company has a market capitalization of $95.09 billion, a PE ratio of 19.13, a P/E/G ratio of 1.44 and a beta of 1.06. American Express has a 1 year low of $87.54 and a 1 year high of $113.18.

American Express (NYSE:AXP) last posted its quarterly earnings results on Thursday, October 18th. The payment services company reported $1.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.77 by $0.11. The business had revenue of $10.14 billion during the quarter, compared to analyst estimates of $10.06 billion. American Express had a return on equity of 31.26% and a net margin of 9.51%. The business’s revenue was up 9.2% compared to the same quarter last year. During the same period in the prior year, the business earned $1.50 earnings per share. Equities research analysts predict that American Express will post 7.38 EPS for the current fiscal year.

In other American Express news, Chairman Stephen J. Squeri sold 12,500 shares of the company’s stock in a transaction on Thursday, November 1st. The stock was sold at an average price of $103.84, for a total transaction of $1,298,000.00. Following the transaction, the chairman now directly owns 209,957 shares in the company, valued at $21,801,934.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Marc D. Gordon sold 25,948 shares of the company’s stock in a transaction on Wednesday, September 12th. The stock was sold at an average price of $107.83, for a total value of $2,797,972.84. Following the transaction, the insider now owns 33,111 shares in the company, valued at $3,570,359.13. The disclosure for this sale can be found here. 0.20% of the stock is owned by corporate insiders.

Large investors have recently added to or reduced their stakes in the business. Destination Wealth Management raised its stake in shares of American Express by 165.4% in the second quarter. Destination Wealth Management now owns 1,059 shares of the payment services company’s stock valued at $104,000 after acquiring an additional 660 shares in the last quarter. Tuttle Tactical Management acquired a new stake in shares of American Express in the second quarter valued at $105,000. Ancora Advisors LLC acquired a new stake in shares of American Express in the third quarter valued at $106,000. Lenox Wealth Advisors LLC raised its stake in shares of American Express by 1,173.8% in the third quarter. Lenox Wealth Advisors LLC now owns 1,070 shares of the payment services company’s stock valued at $114,000 after acquiring an additional 986 shares in the last quarter. Finally, Sageworth Trust Co raised its stake in shares of American Express by 455.6% in the third quarter. Sageworth Trust Co now owns 1,250 shares of the payment services company’s stock valued at $133,000 after acquiring an additional 1,025 shares in the last quarter. Institutional investors own 83.42% of the company’s stock.

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 four segments: U.S. Consumer Services, International Consumer and Network Services, Global Commercial Services, and Global Merchant Services.

Further Reading: Market Capitalization – What it Means for Investors

Analyst Recommendations for American Express (NYSE:AXP)

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