Brokerages Set American Express (NYSE:AXP) Price Target at $242.33

Shares of American Express (NYSE:AXP) have been assigned an average rating of “Hold” from the twenty-seven research firms that are currently covering the firm, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a sell recommendation, fifteen have issued a hold recommendation and eight have issued a buy recommendation on the company. The average 12 month target price among brokers that have covered the stock in the last year is $244.58.

AXP has been the topic of a number of research reports. Barclays upped their price objective on American Express from $250.00 to $257.00 and gave the company an “equal weight” rating in a report on Monday. Monness Crespi & Hardt upped their price objective on American Express from $265.00 to $300.00 and gave the company a “buy” rating in a report on Monday, October 14th. Jefferies Financial Group upped their price objective on American Express from $225.00 to $235.00 and gave the company a “hold” rating in a report on Tuesday, July 9th. Compass Point initiated coverage on American Express in a report on Tuesday, July 16th. They issued a “neutral” rating and a $260.00 price objective on the stock. Finally, Morgan Stanley upped their price objective on American Express from $248.00 to $252.00 and gave the company an “equal weight” rating in a report on Monday.

Institutional Trading of American Express

Large investors have recently bought and sold shares of the business. Game Plan Financial Advisors LLC raised its position in American Express by 62.5% in the first quarter. Game Plan Financial Advisors LLC now owns 130 shares of the payment services company’s stock valued at $30,000 after purchasing an additional 50 shares during the last quarter. Riverview Trust Co bought a new position in American Express in the first quarter valued at about $38,000. DHJJ Financial Advisors Ltd. raised its position in American Express by 42.2% in the second quarter. DHJJ Financial Advisors Ltd. now owns 165 shares of the payment services company’s stock valued at $38,000 after purchasing an additional 49 shares during the last quarter. BNP Paribas bought a new position in shares of American Express during the first quarter worth about $40,000. Finally, POM Investment Strategies LLC bought a new position in shares of American Express during the second quarter worth about $42,000. 84.33% of the stock is owned by institutional investors and hedge funds.

American Express Stock Down 2.2 %

AXP opened at $270.74 on Friday. American Express has a 1-year low of $140.91 and a 1-year high of $286.36. The stock’s fifty day simple moving average is $261.94 and its 200 day simple moving average is $244.38. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 1.74. The stock has a market cap of $194.74 billion, a PE ratio of 22.30, a price-to-earnings-growth ratio of 1.50 and a beta of 1.21.

American Express (NYSE:AXP) last posted its quarterly earnings results on Friday, October 18th. The payment services company reported $3.49 earnings per share for the quarter, beating analysts’ consensus estimates of $3.27 by $0.22. American Express had a return on equity of 32.94% and a net margin of 15.53%. The business had revenue of $16.64 billion for the quarter, compared to analysts’ expectations of $16.68 billion. During the same quarter in the prior year, the business earned $3.30 EPS. The firm’s revenue for the quarter was up 8.2% on a year-over-year basis. As a group, research analysts expect that American Express will post 13.14 earnings per share for the current year.

American Express Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Friday, October 4th will be paid a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 1.03%. The ex-dividend date of this dividend is Friday, October 4th. American Express’s dividend payout ratio (DPR) is presently 23.06%.

About American Express

American Express Company, together with its subsidiaries, operates as integrated payments company in the United States, Europe, the Middle East and Africa, the Asia Pacific, Australia, New Zealand, Latin America, Canada, the Caribbean, and Internationally. It operates through four segments: U.S. Consumer Services, Commercial Services, International Card Services, and Global Merchant and Network Services.