Investors Buy Shares of American Express Co. (AXP) on Weakness
Investors bought 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
AXP has been the topic of a number of analyst reports. Nomura reaffirmed a “hold” rating on shares of American Express in a research report on Saturday, July 9th. Vetr cut American Express from a “hold” rating to a “sell” rating and set a $62.55 price objective on the stock. in a research report on Tuesday, May 24th. Oppenheimer Holdings Inc. reaffirmed a “hold” rating on shares of American Express in a research report on Thursday, July 21st. DA Davidson reaffirmed a “neutral” rating and set a $66.00 price objective on shares of American Express in a research report on Friday, July 8th. Finally, Jefferies Group reaffirmed a “hold” rating and set a $60.00 price objective on shares of American Express in a research report on Thursday, July 21st. Six investment analysts have rated the stock with a sell rating, twenty have assigned a hold rating and nine have assigned a buy rating to the company. American Express currently has an average rating of “Hold” and an average target price of $70.40.
The firm has a market cap of $60.22 billion and a P/E ratio of 11.53. The stock’s 50-day moving average is $64.85 and its 200 day moving average is $62.41.
American Express (NYSE:AXP) last posted its earnings results on Wednesday, July 20th. The payment services company reported $2.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.95 by $0.15. During the same period in the previous year, the company posted $1.42 EPS. The company earned $8.20 billion during the quarter, compared to analysts’ expectations of $8.33 billion. American Express’s quarterly revenue was down .6% compared to the same quarter last year. On average, equities research analysts predict that American Express Co. will post $5.50 earnings per share for the current fiscal year.
A hedge fund recently raised its stake in American Express stock. American International Group Inc. raised its position in American Express Co. (NYSE:AXP) by 2.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund 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 quarter.
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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