American Express (NYSE:AXP) Price Target Increased to $290.00 by Analysts at Evercore ISI

by · The Cerbat Gem

American Express (NYSE:AXP) had its price target boosted by Evercore ISI from $275.00 to $290.00 in a research note released on Monday, Benzinga reports. Evercore ISI currently has an in-line rating on the payment services company’s stock.

Several other equities research analysts have also commented on AXP. Barclays upped their price objective on shares of American Express from $221.00 to $223.00 and gave the stock an equal weight rating in a research report on Tuesday, July 9th. Compass Point initiated coverage on shares of American Express in a research report on Tuesday, July 16th. They set a neutral rating and a $260.00 price target for the company. Citigroup initiated coverage on shares of American Express in a research note on Monday, June 10th. They issued a neutral rating and a $250.00 price target on the stock. Monness Crespi & Hardt boosted their price objective on American Express from $260.00 to $265.00 and gave the stock a buy rating in a research note on Monday, July 22nd. Finally, Bank of America raised their target price on American Express from $263.00 to $265.00 and gave the company a neutral rating in a research report on Tuesday, September 17th. Four research analysts have rated the stock with a sell rating, fifteen have given a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of Hold and an average target price of $239.96.

Get Our Latest Stock Analysis on American Express

American Express Trading Up 0.9 %

Shares of American Express stock opened at $271.48 on Monday. American Express has a fifty-two week low of $140.91 and a fifty-two week high of $276.79. The company has a debt-to-equity ratio of 1.74, a quick ratio of 1.66 and a current ratio of 1.66. The company has a market cap of $195.28 billion, a P/E ratio of 22.36, a price-to-earnings-growth ratio of 1.48 and a beta of 1.21. The firm has a 50-day simple moving average of $254.76 and a two-hundred day simple moving average of $241.19.

American Express (NYSE:AXP – Get Free Report) last issued its quarterly earnings results on Friday, July 19th. The payment services company reported $3.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.26 by $0.23. American Express had a return on equity of 32.94% and a net margin of 15.53%. The company had revenue of $16.33 billion for the quarter, compared to the consensus estimate of $16.60 billion. During the same quarter in the prior year, the business posted $2.89 earnings per share. American Express’s revenue for the quarter was up 9.2% on a year-over-year basis. As a group, equities analysts predict that American Express will post 13.13 earnings per share for the current fiscal year.

American Express Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Friday, October 4th will be given a $0.70 dividend. The ex-dividend date of this dividend is Friday, October 4th. This represents a $2.80 dividend on an annualized basis and a yield of 1.03%. American Express’s dividend payout ratio is currently 23.06%.

Institutional Trading of American Express

Several institutional investors and hedge funds have recently bought and sold shares of AXP. Waterloo Capital L.P. purchased a new position in shares of American Express during the 4th quarter worth approximately $231,000. Lighthouse Investment Partners LLC boosted its position in shares of American Express by 32.8% during the fourth quarter. Lighthouse Investment Partners LLC now owns 28,287 shares of the payment services company’s stock worth $5,299,000 after buying an additional 6,987 shares during the period. Cresset Asset Management LLC grew its stake in shares of American Express by 2.0% in the fourth quarter. Cresset Asset Management LLC now owns 73,343 shares of the payment services company’s stock valued at $13,740,000 after buying an additional 1,412 shares in the last quarter. Greystone Financial Group LLC raised its holdings in shares of American Express by 525.4% in the 4th quarter. Greystone Financial Group LLC now owns 43,431 shares of the payment services company’s stock valued at $8,136,000 after buying an additional 36,486 shares during the period. Finally, Icon Wealth Advisors LLC acquired a new position in American Express during the 4th quarter worth about $501,000. 84.33% of the stock is currently owned by hedge funds and other institutional investors.

American Express Company Profile

(Get Free Report)

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.

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