American Express (AXP) Earns “Buy” Rating from Wells Fargo & Co

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Wells Fargo & Co reaffirmed their buy rating on shares of American Express (NYSE:AXP) in a report published on Tuesday, The Fly reports. Wells Fargo & Co currently has a $125.00 target price on the payment services company’s stock, up from their prior target price of $115.00.

A number of other brokerages have also issued reports on AXP. Bank of America set a $108.00 price target on American Express and gave the stock a hold rating in a research note on Friday, January 18th. Credit Suisse Group reissued a hold rating and issued a $93.00 price target on shares of American Express in a research note on Friday, January 18th. Zacks Investment Research lowered American Express from a hold rating to a sell rating in a research note on Wednesday, January 16th. Morgan Stanley reduced their price objective on American Express from $113.00 to $111.00 and set an equal weight rating on the stock in a research note on Tuesday, January 8th. Finally, Barclays set a $118.00 price objective on American Express and gave the company a hold rating in a research note on Friday, December 14th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and eleven have issued a buy rating to the company’s stock. American Express has an average rating of Hold and an average target price of $112.25.

Shares of NYSE:AXP opened at $112.35 on Tuesday. The company has a current ratio of 1.93, a quick ratio of 1.93 and a debt-to-equity ratio of 2.62. American Express has a 12-month low of $89.05 and a 12-month high of $114.55. The stock has a market capitalization of $93.13 billion, a price-to-earnings ratio of 15.33, a price-to-earnings-growth ratio of 1.29 and a beta of 1.11.

American Express (NYSE:AXP) last issued its quarterly earnings results on Thursday, January 17th. The payment services company reported $1.74 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.80 by ($0.06). American Express had a return on equity of 30.35% and a net margin of 17.08%. The business had revenue of $10.47 billion during the quarter, compared to analyst estimates of $10.54 billion. During the same period in the previous year, the business posted $1.58 earnings per share. The firm’s quarterly revenue was up 7.9% on a year-over-year basis. Sell-side analysts expect that American Express will post 8.16 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 10th. Stockholders of record on Friday, April 5th will be paid a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 1.39%. The ex-dividend date is Thursday, April 4th. American Express’s dividend payout ratio is currently 21.28%.

In related news, Chairman Stephen J. Squeri sold 12,500 shares of the firm’s stock in a transaction dated Friday, February 1st. The stock was sold at an average price of $103.02, for a total transaction of $1,287,750.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Richard Petrino sold 2,444 shares of the firm’s stock in a transaction dated Thursday, February 14th. The shares were sold at an average price of $107.11, for a total value of $261,776.84. Following the sale, the executive vice president now owns 7,591 shares in the company, valued at $813,072.01. The disclosure for this sale can be found here. Company insiders own 0.20% of the company’s stock.

Large investors have recently made changes to their positions in the stock. Pearl River Capital LLC purchased a new stake in shares of American Express during the 4th quarter valued at about $25,000. JNBA Financial Advisors purchased a new stake in shares of American Express during the 4th quarter valued at about $26,000. Clarfeld Financial Advisors LLC purchased a new stake in shares of American Express during the 4th quarter valued at about $31,000. Capital Investment Advisory Services LLC purchased a new stake in shares of American Express during the 4th quarter valued at about $37,000. Finally, Vigilant Capital Management LLC purchased a new stake in American Express during the 4th quarter worth approximately $38,000. Institutional investors and hedge funds own 84.07% 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 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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