American Express (NYSE: AXP) downgraded to “peer performance” at Wolfe Research


American Express (NYSE: AXP) The rating was lowered by Wolfe Research equity analysts from a “outstanding” rating to a “peer performer” rating in a research report released on Thursday, Fly reports. They currently have a $146.00 price target on the Payment Services Company stock. Wolfe Research price target indicates a potential drop of 8.40% from the company’s previous close.

AXP has been the subject of several other reports. Citigroup raised its price target for American Express shares from $187.00 to $190.00 and assigned the company a “neutral” rating in a research note on Tuesday, April 26th. BMO Capital Markets raised its price target on American Express from $152.00 to $155.00 and gave the company a “market performance” rating in a research report on Wednesday, January 26th. Wells Fargo & Company raised its price target on American Express from $200.00 to $215.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 26th. Deutsche Bank Aktiengesellschaft raised its target price on American Express from $200.00 to $210.00 and gave the company a “buy” rating in a report on Wednesday, January 26th. Finally, StockNews.com assumed coverage of American Express in a report on Thursday, March 31. They put a “hold” rating for the company. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $192.26.

AXP stock opened at $159.39 Thursday. The business has a fifty-day moving average of $179.39 and a 200-day moving average of $176.14. The company has a debt-to-equity ratio of 1.71, a trading ratio of 1.63 and a quick ratio of 1.63. American Express has a 52-week low of $149.89 and a 52-week high of $199.55. The stock has a market capitalization of $120.03 billion, a P/E ratio of 15.97, a P/E ratio of 1.42 and a beta 1.08.

American Express (NYSE: AXP – Get Rating) announced its latest earnings results on Friday, April 22nd. The payment services company reported earnings of $2.73 per share for the quarter, topping analysts’ estimates of $2.41 by $0.32. The company’s revenue was $11.74 billion for the quarter, compared to analyst estimates of $11.66 billion. American Express has a return on equity of 33.35% and a net margin of 17.49%. The company’s quarterly revenue rose 29.5% compared to the same quarter last year. During the same period last year, the company reported earnings of $1.74 per share. On average, stock analysts expect American Express to generate 9.79 earnings per share for the current fiscal year.
In other news from American Express, EVP Quinn Jessica Lieberman sold 1,804 shares of the company’s stock in a transaction that took place on Monday, February 14th. The shares sold for an average price of $191.42, bringing the total transaction to $345,321.68. The sale was disclosed in a file with the Securities and Exchange Commission, which is available through the Saudi Electricity Company’s website. Also, CEO Stephen J. Squire sold 48,160 shares of American Express stock in a transaction that took place on Thursday, April 28th. The shares were sold at an average price of $178.38, for a total transaction of $8,590.780.80. Following the completion of the sale, the CEO now owns 31,285 shares in the company, valued at $5,580,618.30. The disclosure of this sale can be found here. Company insiders own 0.11% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the company. Spire Wealth Management increased its stake in American Express by 109.7% in the fourth quarter. Spire Wealth Management now owns 9,090 shares of the payment services company’s stock, valued at $1,487,000 after purchasing an additional 4,755 shares in the last quarter. Kings Point Capital Management raised its stake in American Express by 20.1% during the third quarter. Kings Point Capital Management now owns 112,129 shares of the payment services company’s stock valued at $18,785,000 after acquiring an additional 18,739 shares during the period. Van ECK Associates Corp raised its stake in shares of American Express by 275.0% in the fourth quarter. Van ECK Associates Corp. now owns 58,352 shares of the payment services company’s stock valued at $9,546,000 after purchasing an additional 42,792 shares during the period. American Century Companies Inc. Its stake in shares of American Express increased by 1.7% in the third quarter. American Century Companies Inc. Now 4,852,583 shares of the payment services company’s stock valued at $812,953,000 after purchasing an additional 81,623 shares during the period. Finally, FDx Advisors Inc. Its position in shares of American Express increased by 15.3% in the fourth quarter. FDx Advisors Inc. Now 9,489 shares of the payment services company’s stock are valued at $1,552,000 after purchasing an additional 1,256 shares in the last quarter. 85.49% of the shares are currently owned by institutional investors.

American Express Company Profile (Get Rating)

American Express, along with its subsidiaries, provides debit and credit card products and travel-related services throughout the world. The company operates through three segments: Global Consumer Services Group, Global Merchant and Network Services. Its products and services include payment and financing products; network services; Accounts payable expense management products and services; and travel and lifestyle services.

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