American Express (NYSE:AXP) Downgraded by Citigroup

Citigroup cut shares of American Express (NYSE:AXP) from a buy rating to a neutral rating in a research note released on Wednesday, 24/7 WallStreet reports. They currently have $105.00 target price on the payment services company’s stock, down from their previous target price of $110.00.

A number of other equities analysts also recently issued reports on the stock. BMO Capital Markets dropped their price objective on shares of American Express from $115.00 to $95.00 and set a market perform rating on the stock in a research note on Monday, April 27th. Zacks Investment Research raised American Express from a strong sell rating to a hold rating and set a $101.00 target price on the stock in a research report on Thursday, April 30th. William Blair reissued a buy rating on shares of American Express in a research report on Wednesday, March 18th. Susquehanna Bancshares dropped their price objective on American Express from $135.00 to $120.00 in a research report on Monday, April 27th. Finally, UBS Group downgraded shares of American Express from a neutral rating to a sell rating and set a $92.00 target price for the company. in a report on Monday, June 22nd. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating and nine have issued a buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus price target of $106.96.

AXP opened at $93.23 on Wednesday. The company has a quick ratio of 1.76, a current ratio of 1.76 and a debt-to-equity ratio of 2.50. The stock’s fifty day moving average is $98.44 and its two-hundred day moving average is $105.38. The company has a market capitalization of $72.91 billion, a P/E ratio of 11.10, a PEG ratio of 1.91 and a beta of 1.12. American Express has a 52 week low of $67.00 and a 52 week high of $138.13.

American Express (NYSE:AXP) last posted its quarterly earnings results on Friday, April 24th. The payment services company reported $1.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $10.67 billion. During the same quarter in the prior year, the company earned $2.01 EPS. The business’s revenue was down .5% compared to the same quarter last year. Equities analysts anticipate that American Express will post 4.52 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Monday, August 10th. Shareholders of record on Thursday, July 2nd will be given a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a yield of 1.84%. The ex-dividend date of this dividend is Wednesday, July 1st. American Express’s dividend payout ratio is currently 20.98%.

Several hedge funds have recently modified their holdings of AXP. Altfest L J & Co. Inc. boosted its stake in shares of American Express by 3.4% in the first quarter. Altfest L J & Co. Inc. now owns 3,631 shares of the payment services company’s stock worth $311,000 after buying an additional 119 shares during the last quarter. Merit Financial Group LLC boosted its position in American Express by 4.8% in the 1st quarter. Merit Financial Group LLC now owns 2,601 shares of the payment services company’s stock worth $223,000 after purchasing an additional 120 shares in the last quarter. Outlook Wealth Advisors LLC boosted its position in American Express by 3.8% in the 1st quarter. Outlook Wealth Advisors LLC now owns 3,416 shares of the payment services company’s stock worth $292,000 after purchasing an additional 126 shares in the last quarter. JCIC Asset Management Inc. grew its stake in shares of American Express by 38.2% during the 1st quarter. JCIC Asset Management Inc. now owns 470 shares of the payment services company’s stock worth $40,000 after purchasing an additional 130 shares during the period. Finally, Wintrust Investments LLC lifted its stake in shares of American Express by 1.3% in the 1st quarter. Wintrust Investments LLC now owns 10,109 shares of the payment services company’s stock valued at $865,000 after purchasing an additional 130 shares during the period. 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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Analyst Recommendations for American Express (NYSE:AXP)

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