American Express (NYSE:AXP) Sets New 52-Week High After Analyst Upgrade
American Express (NYSE:AXP)’s stock price reached a new 52-week high during mid-day trading on Tuesday after Nomura raised their price target on the stock from to . Nomura currently has a buy rating on the stock. American Express traded as high as $130.09 and last traded at $129.90, with a volume of 72782 shares trading hands. The stock had previously closed at $128.54.
AXP has been the subject of several other research reports. ValuEngine lowered American Express from a “hold” rating to a “sell” rating in a research note on Wednesday, December 4th. Robert W. Baird initiated coverage on American Express in a research note on Wednesday, January 8th. They set a “neutral” rating and a $124.00 price target for the company. Cfra reiterated a “hold” rating on shares of American Express in a report on Friday, October 18th. BMO Capital Markets lifted their price objective on American Express from $119.00 to $123.00 and gave the stock a “market perform” rating in a report on Monday, October 21st. Finally, Oppenheimer set a $126.00 price objective on American Express and gave the stock a “buy” rating in a report on Monday, October 21st. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have issued a buy rating to the company’s stock. American Express presently has an average rating of “Hold” and a consensus target price of $127.29.
In other American Express news, CEO Stephen J. Squeri sold 15,000 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $117.96, for a total transaction of $1,769,400.00. Following the transaction, the chief executive officer now owns 184,090 shares in the company, valued at approximately $21,715,256.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Theodore Leonsis sold 8,420 shares of the company’s stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $116.44, for a total value of $980,424.80. Following the transaction, the director now owns 11,580 shares in the company, valued at approximately $1,348,375.20. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 25,820 shares of company stock worth $3,033,961. 0.21% of the stock is owned by company insiders.
The company has a debt-to-equity ratio of 2.54, a quick ratio of 1.86 and a current ratio of 1.86. The business has a 50-day moving average price of $123.33 and a 200 day moving average price of $121.57. The stock has a market capitalization of $104.15 billion, a P/E ratio of 17.67, a PEG ratio of 1.34 and a beta of 1.05.
American Express (NYSE:AXP) last issued its quarterly earnings results on Friday, October 18th. The payment services company reported $2.08 EPS for the quarter, topping analysts’ consensus estimates of $2.07 by $0.01. American Express had a return on equity of 29.68% and a net margin of 16.51%. The firm had revenue of $10.99 billion for the quarter, compared to analysts’ expectations of $10.94 billion. During the same period in the previous year, the firm posted $1.88 EPS. The business’s revenue for the quarter was up 8.3% compared to the same quarter last year. As a group, research analysts forecast that American Express will post 8.14 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 10th. Investors of record on Friday, January 3rd will be given a $0.43 dividend. The ex-dividend date of this dividend is Thursday, January 2nd. This is a boost from American Express’s previous quarterly dividend of $0.39. This represents a $1.72 annualized dividend and a yield of 1.33%. American Express’s dividend payout ratio is 23.47%.
American Express Company Profile (NYSE:AXP)
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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