American Express (AXP) Given New $111.00 Price Target at Buckingham Research

American Express (NYSE:AXP) had its price objective lifted by Buckingham Research from $110.00 to $111.00 in a research report released on Thursday morning. They currently have a neutral rating on the payment services company’s stock.

AXP has been the subject of a number of other reports. Sanford C. Bernstein reaffirmed an outperform rating and issued a $120.00 price target (up from $115.00) on shares of American Express in a report on Thursday. Oppenheimer set a $110.00 price target on American Express and gave the company a buy rating in a report on Thursday, April 12th. Citigroup assumed coverage on American Express in a report on Thursday, April 5th. They issued a buy rating and a $110.00 price target for the company. Sandler O’Neill set a $109.00 price objective on American Express and gave the company a buy rating in a research note on Thursday, March 15th. Finally, Instinet began coverage on American Express in a research note on Wednesday, January 3rd. They set a buy rating and a $110.00 price target for the company. One investment analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and thirteen have assigned a buy rating to the company. The company currently has a consensus rating of Hold and an average price target of $106.09.

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Shares of American Express stock traded down $1.07 on Thursday, reaching $101.30. 1,181,609 shares of the company were exchanged, compared to its average volume of 4,031,975. American Express has a 1-year low of $75.97 and a 1-year high of $102.96. The company has a market cap of $81,855.53, a PE ratio of 17.44, a P/E/G ratio of 1.30 and a beta of 1.14. The company has a debt-to-equity ratio of 3.06, a quick ratio of 1.93 and a current ratio of 1.93.

American Express (NYSE:AXP) last announced its quarterly earnings data on Wednesday, April 18th. The payment services company reported $1.86 EPS for the quarter, topping the Zacks’ consensus estimate of $1.71 by $0.15. American Express had a return on equity of 28.22% and a net margin of 8.79%. The business had revenue of $9.72 billion during the quarter, compared to the consensus estimate of $9.49 billion. During the same period in the previous year, the company posted $1.34 earnings per share. The business’s revenue for the quarter was up 11.6% on a year-over-year basis. sell-side analysts predict that American Express will post 7.13 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 10th. Shareholders of record on Friday, April 6th will be issued a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 1.38%. The ex-dividend date is Thursday, April 5th. American Express’s dividend payout ratio (DPR) is 23.85%.

In other American Express news, insider James Peter Bush sold 13,356 shares of the company’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $98.65, for a total value of $1,317,569.40. Following the sale, the insider now owns 100,790 shares of the company’s stock, valued at $9,942,933.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.20% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently bought and sold shares of the business. Certified Advisory Corp acquired a new stake in shares of American Express during the fourth quarter valued at $101,000. Trustcore Financial Services LLC acquired a new stake in shares of American Express during the fourth quarter valued at $128,000. Zions Bancorporation boosted its stake in shares of American Express by 912.9% during the third quarter. Zions Bancorporation now owns 1,337 shares of the payment services company’s stock valued at $121,000 after acquiring an additional 1,205 shares during the last quarter. Delpha Capital Management LLC acquired a new stake in shares of American Express during the fourth quarter valued at $138,000. Finally, Focused Wealth Management Inc acquired a new stake in shares of American Express during the fourth quarter valued at $139,000. 84.11% of the stock is currently owned by institutional investors.

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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.

Analyst Recommendations for American Express (NYSE:AXP)

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