Oppenheimer Holdings, Inc. set a $99.00 price objective on American Express Company (NYSE:AXP) in a report published on Thursday. The brokerage currently has a buy rating on the payment services company’s stock. Oppenheimer Holdings also issued estimates for American Express’ Q4 2017 earnings at $1.56 EPS, FY2017 earnings at $5.86 EPS and FY2018 earnings at $6.66 EPS.
AXP has been the subject of a number of other reports. Jefferies Group LLC reiterated an in-line rating and issued a $93.00 price objective (up from $85.00) on shares of American Express in a research note on Thursday. BidaskClub upgraded shares of American Express from a sell rating to a hold rating in a research note on Tuesday, August 8th. Buckingham Research began coverage on shares of American Express in a research note on Monday, October 2nd. They issued a neutral rating and a $92.00 price objective for the company. Zacks Investment Research upgraded shares of American Express from a hold rating to a buy rating and set a $96.00 price objective for the company in a research note on Tuesday, August 29th. Finally, Instinet reiterated an underperform rating and issued a $80.00 price objective on shares of American Express in a research note on Thursday, June 29th. Three investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and thirteen have issued a buy rating to the stock. The company presently has a consensus rating of Hold and a consensus price target of $90.66.
Shares of American Express (NYSE:AXP) traded up 0.21% during midday trading on Thursday, reaching $92.09. The company had a trading volume of 4,442,193 shares. The firm has a market capitalization of $81.41 billion, a P/E ratio of 18.89 and a beta of 1.21. The company has a 50 day moving average price of $89.20 and a 200-day moving average price of $83.54. American Express has a one year low of $65.03 and a one year high of $93.29.
American Express (NYSE:AXP) last released its quarterly earnings data on Wednesday, October 18th. The payment services company reported $1.50 earnings per share for the quarter, beating analysts’ consensus estimates of $1.47 by $0.03. American Express had a net margin of 14.48% and a return on equity of 22.78%. The business had revenue of $8.44 billion during the quarter, compared to analyst estimates of $8.31 billion. During the same period in the previous year, the business earned $1.24 EPS. American Express’s revenue was up 8.5% compared to the same quarter last year. On average, analysts anticipate that American Express will post $5.84 EPS for the current fiscal year.
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American Express declared that its board has initiated a share buyback program on Wednesday, June 28th that authorizes the company to repurchase $4.40 billion in shares. This repurchase authorization authorizes the payment services company to repurchase up to 5.9% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board of directors believes its shares are undervalued.
The business also recently declared a quarterly dividend, which will be paid on Friday, November 10th. Investors of record on Friday, October 6th will be paid a $0.35 dividend. This is an increase from American Express’s previous quarterly dividend of $0.32. This represents a $1.40 dividend on an annualized basis and a yield of 1.52%. The ex-dividend date is Thursday, October 5th. American Express’s dividend payout ratio is presently 26.97%.
In related news, insider James Peter Bush sold 10,230 shares of the stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $90.55, for a total value of $926,326.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Susan Sobbott sold 6,000 shares of the stock in a transaction dated Thursday, September 7th. The stock was sold at an average price of $84.39, for a total transaction of $506,340.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 953,636 shares of company stock valued at $80,863,777. 0.67% of the stock is owned by insiders.
A number of hedge funds have recently added to or reduced their stakes in AXP. MCF Advisors LLC raised its stake in American Express by 0.3% in the second quarter. MCF Advisors LLC now owns 1,286 shares of the payment services company’s stock worth $108,000 after buying an additional 4 shares in the last quarter. Farmers & Merchants Trust Co of Chambersburg PA raised its stake in American Express by 30.4% in the second quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 1,288 shares of the payment services company’s stock worth $109,000 after buying an additional 300 shares in the last quarter. Capital Analysts LLC bought a new position in American Express in the second quarter worth about $115,000. SRS Capital Advisors Inc. raised its stake in American Express by 10.3% in the first quarter. SRS Capital Advisors Inc. now owns 1,476 shares of the payment services company’s stock worth $116,000 after buying an additional 138 shares in the last quarter. Finally, Westside Investment Management Inc. raised its stake in American Express by 36.7% in the first quarter. Westside Investment Management Inc. now owns 1,528 shares of the payment services company’s stock worth $119,000 after buying an additional 410 shares in the last quarter. 82.77% of the stock is owned by institutional investors.
About American Express
American Express Company, together with its subsidiaries, is a global services company. The Company’s principal products and services are charge and credit card products, and travel-related services, which are offered to consumers and businesses around the world. Its segments include the U.S. Consumer Services (USCS), International Consumer and Network Services (ICNS), Global Commercial Services (GCS) and Global Merchant Services (GMS).
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