Traders Buy American Express Co. (AXP) on Weakness
Investors purchased shares of American Express Co. (NYSE:AXP) on weakness during trading on Friday. $57.35 million flowed into the stock on the tick-up and $30.12 million flowed out of the stock on the tick-down, for a money net flow of $27.23 million into the stock. Of all companies tracked, American Express had the 23rd highest net in-flow for the day. American Express traded down ($0.72) for the day and closed at $64.86
Several equities research analysts have recently weighed in on the company. Nomura reissued a “hold” rating on shares of American Express in a report on Saturday, July 9th. Vetr downgraded American Express from a “hold” rating to a “sell” rating and set a $62.55 price objective for the company. in a report on Tuesday, May 24th. Oppenheimer Holdings Inc. reissued a “hold” rating on shares of American Express in a report on Thursday, July 21st. DA Davidson reissued a “neutral” rating and issued a $66.00 price objective on shares of American Express in a report on Friday, July 8th. Finally, Jefferies Group reissued a “hold” rating and issued a $60.00 price objective on shares of American Express in a report on Thursday, July 21st. Six equities research analysts have rated the stock with a sell rating, twenty have assigned a hold rating and nine have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $70.40.
The firm has a market cap of $60.22 billion and a PE ratio of 11.53. The stock has a 50 day moving average price of $64.85 and a 200 day moving average price of $62.41.
American Express (NYSE:AXP) last announced its quarterly earnings results on Wednesday, July 20th. The payment services company reported $2.10 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.95 by $0.15. The business had revenue of $8.20 billion for the quarter, compared to analyst estimates of $8.33 billion. The company’s revenue was down .6% compared to the same quarter last year. During the same quarter last year, the firm posted $1.42 EPS. On average, equities research analysts predict that American Express Co. will post $5.50 earnings per share for the current year.
An institutional investor recently raised its position in American Express stock. American International Group Inc. boosted its stake in shares of American Express Co. (NYSE:AXP) by 2.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 379,408 shares of the payment services company’s stock after buying an additional 9,560 shares during the period. American International Group Inc.’s holdings in American Express were worth $26,387,000 at the end of the most recent reporting period.
American Express Company is a services company. The Company’s principal products and services are charge and credit payment card products, and travel-related services offered to consumers and businesses around the world. The Company’s segments include U.S. Consumer Services (USCS), International Consumer and Network Services (ICNS), Global Commercial Services (GCS) and Global Merchant Services (GMS).
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