Investors Buy Shares of American Express Co. (AXP) on Weakness
Investors purchased shares of American Express Co. (NYSE:AXP) on weakness during trading hours on Thursday. $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 stocks tracked, American Express had the 42nd highest net in-flow for the day. American Express traded down ($0.72) for the day and closed at $64.86
Several brokerages have recently weighed in on AXP. JPMorgan Chase & Co. reiterated a “hold” rating and set a $68.00 price target on shares of American Express in a research report on Thursday, June 9th. Vetr upgraded shares of American Express from a “sell” rating to a “hold” rating and set a $64.60 price objective on the stock in a research report on Wednesday, June 8th. Goldman Sachs Group Inc. restated a “neutral” rating and issued a $67.00 price objective (up from $62.00) on shares of American Express in a research report on Tuesday, June 7th. Citigroup Inc. restated a “buy” rating on shares of American Express in a research report on Wednesday, August 10th. Finally, Bank of America Corp. restated a “sell” rating on shares of American Express in a research report on Friday, June 10th. Six research analysts have rated the stock with a sell rating, twenty have given a hold rating and nine have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $70.40.
The company has a market capitalization of $60.22 billion and a PE ratio of 11.53. The firm’s 50-day moving average is $64.85 and its 200 day moving average is $62.41.
American Express (NYSE:AXP) last released its earnings results on Wednesday, July 20th. The payment services company reported $2.10 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.95 by $0.15. The company had revenue of $8.20 billion for the quarter, compared to the consensus estimate of $8.33 billion. During the same period in the prior year, the firm posted $1.42 EPS. The business’s revenue for the quarter was down .6% compared to the same quarter last year. Analysts anticipate that American Express Co. will post $5.50 EPS for the current fiscal year.
An institutional investor recently raised its position in American Express stock. American International Group Inc. increased its stake in shares of 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. The institutional investor 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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