American Express (NYSE:AXP) Downgraded by ValuEngine

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ValuEngine lowered shares of American Express (NYSE:AXP) from a buy rating to a hold rating in a research note issued to investors on Thursday morning, ValuEngine reports.

Several other brokerages have also recently commented on AXP. UBS Group cut shares of American Express from a buy rating to a neutral rating and set a $117.60 price target on the stock. in a research report on Monday, April 29th. Royal Bank of Canada boosted their price target on shares of American Express from $120.00 to $125.00 and gave the stock a sector perform rating in a research report on Monday, July 22nd. They noted that the move was a valuation call. JPMorgan Chase & Co. cut their price target on shares of American Express from $135.00 to $132.00 and set a neutral rating on the stock in a research report on Monday, July 22nd. Morgan Stanley raised shares of American Express from an equal weight rating to an overweight rating and set a $140.00 price target on the stock in a research report on Friday, May 3rd. Finally, Stephens set a $131.00 price target on shares of American Express and gave the stock a buy rating in a research report on Monday, May 20th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and nine have assigned a buy rating to the company. American Express currently has an average rating of Hold and a consensus price target of $124.38.

Shares of NYSE AXP opened at $122.67 on Thursday. The firm has a market cap of $103.14 billion, a price-to-earnings ratio of 16.74, a PEG ratio of 1.40 and a beta of 1.05. The company has a debt-to-equity ratio of 2.50, a quick ratio of 1.84 and a current ratio of 1.84. American Express has a 1-year low of $89.05 and a 1-year high of $129.34. The business has a fifty day moving average of $125.41.

American Express (NYSE:AXP) last announced its earnings results on Friday, July 19th. The payment services company reported $2.07 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.05 by $0.02. The firm had revenue of $10.84 billion during the quarter, compared to analyst estimates of $10.82 billion. American Express had a net margin of 16.60% and a return on equity of 29.75%. The company’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same period in the prior year, the business earned $1.84 EPS. Analysts expect that American Express will post 8.14 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, August 9th. Stockholders of record on Friday, July 5th will be issued a $0.39 dividend. The ex-dividend date is Wednesday, July 3rd. This represents a $1.56 dividend on an annualized basis and a dividend yield of 1.27%. American Express’s payout ratio is 21.28%.

In other news, Chairman Stephen J. Squeri sold 101,964 shares of the company’s stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $119.95, for a total value of $12,230,581.80. Following the sale, the chairman now directly owns 258,948 shares of the company’s stock, valued at approximately $31,060,812.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Chairman Stephen J. Squeri sold 15,000 shares of the company’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $114.69, for a total transaction of $1,720,350.00. Following the completion of the sale, the chairman now directly owns 214,815 shares in the company, valued at $24,637,132.35. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 190,548 shares of company stock worth $22,910,322. 0.21% of the stock is owned by insiders.

Hedge funds have recently modified their holdings of the company. Camarda Financial Advisors LLC bought a new stake in shares of American Express in the 1st quarter valued at about $26,000. Creative Financial Designs Inc. ADV bought a new position in American Express in the 1st quarter valued at about $28,000. HMS Capital Management LLC bought a new position in American Express in the 2nd quarter valued at about $37,000. Edge Wealth Management LLC raised its holdings in American Express by 140.3% in the 2nd quarter. Edge Wealth Management LLC now owns 370 shares of the payment services company’s stock valued at $46,000 after acquiring an additional 216 shares during the period. Finally, Enterprise Financial Services Corp raised its holdings in American Express by 24.8% in the 1st quarter. Enterprise Financial Services Corp now owns 473 shares of the payment services company’s stock valued at $51,000 after acquiring an additional 94 shares during the period. 84.02% of the stock is currently owned by institutional investors.

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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To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for American Express (NYSE:AXP)

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