Analysts’ Weekly Ratings Changes for American Express (AXP)

Posted by Tech Dows on Nov 1st, 2024

American Express logo American Express (NYSE: AXP) has recently received a number of price target changes and ratings updates:

10/21/2024 – American Express had its price target raised by analysts at TD Cowen from $260.00 to $268.00. They now have a “hold” rating on the stock.
10/21/2024 – American Express had its price target raised by analysts at Morgan Stanley from $248.00 to $252.00. They now have an “equal weight” rating on the stock.
10/21/2024 – American Express had its price target raised by analysts at Barclays PLC from $250.00 to $257.00. They now have an “equal weight” rating on the stock.
10/14/2024 – American Express had its price target raised by analysts at Morgan Stanley from $226.00 to $248.00. They now have an “equal weight” rating on the stock.
10/14/2024 – American Express had its price target raised by analysts at Monness Crespi & Hardt from $265.00 to $300.00. They now have a “buy” rating on the stock.
10/8/2024 – American Express was downgraded by analysts at BTIG Research from a “neutral” rating to a “sell” rating. They now have a $230.00 price target on the stock.
10/8/2024 – American Express was downgraded by analysts at Hsbc Global Res from a “strong-buy” rating to a “hold” rating.
10/8/2024 – American Express was downgraded by analysts at HSBC Holdings plc from a “buy” rating to a “hold” rating. They now have a $270.00 price target on the stock, up previously from $265.00.
10/8/2024 – American Express had its price target raised by analysts at Barclays PLC from $223.00 to $250.00. They now have an “equal weight” rating on the stock.
10/7/2024 – American Express was downgraded by analysts at JPMorgan Chase & Co. from an “overweight” rating to a “neutral” rating. They now have a $286.00 price target on the stock, up previously from $268.00.
10/7/2024 – American Express had its price target raised by analysts at Evercore ISI from $275.00 to $290.00. They now have an “in-line” rating on the stock.
10/7/2024 – American Express had its price target raised by analysts at The Goldman Sachs Group, Inc. from $270.00 to $300.00. They now have a “buy” rating on the stock.
9/30/2024 – American Express had its price target raised by analysts at Wells Fargo & Company from $285.00 to $300.00. They now have an “overweight” rating on the stock.
9/17/2024 – American Express had its price target raised by analysts at Bank of America Co. from $263.00 to $265.00. They now have a “neutral” rating on the stock.

American Express Price Performance

Shares of NYSE:AXP traded up $2.61 during trading on Friday, hitting $272.69. 2,484,956 shares of the company’s stock were exchanged, compared to its average volume of 2,916,070. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.63 and a quick ratio of 1.63. American Express has a 52-week low of $148.33 and a 52-week high of $286.36. The business’s 50-day simple moving average is $265.59 and its 200 day simple moving average is $246.87. The company has a market cap of $192.10 billion, a price-to-earnings ratio of 20.07, a PEG ratio of 1.49 and a beta of 1.21.

American Express (NYSE:AXP – Get Free Report) last released its quarterly earnings results on Friday, October 18th. The payment services company reported $3.49 earnings per share for the quarter, beating the consensus estimate of $3.27 by $0.22. The business had revenue of $16.64 billion during the quarter, compared to analysts’ expectations of $16.68 billion. American Express had a return on equity of 32.46% and a net margin of 15.32%. The firm’s revenue for the quarter was up 8.2% compared to the same quarter last year. During the same quarter last year, the business posted $3.30 EPS. As a group, equities analysts predict that American Express will post 13.41 EPS for the current year.

American Express Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Friday, October 4th will be issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 1.03%. The ex-dividend date of this dividend is Friday, October 4th. American Express’s dividend payout ratio is presently 20.60%.

Insider Buying and Selling at American Express

In other American Express news, Vice Chairman Douglas E. Buckminster sold 13,111 shares of the firm’s stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $270.98, for a total transaction of $3,552,818.78. Following the completion of the transaction, the insider now owns 109,691 shares in the company, valued at $29,724,067.18. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, Vice Chairman Douglas E. Buckminster sold 13,111 shares of the firm’s stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $270.98, for a total value of $3,552,818.78. Following the completion of the sale, the insider now directly owns 109,691 shares of the company’s stock, valued at $29,724,067.18. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Anre D. Williams sold 77,887 shares of the firm’s stock in a transaction that occurred on Tuesday, October 22nd. The shares were sold at an average price of $270.26, for a total value of $21,049,740.62. Following the completion of the sale, the insider now directly owns 111,656 shares of the company’s stock, valued at $30,176,150.56. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.12% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On American Express

Institutional investors and hedge funds have recently modified their holdings of the business. DHJJ Financial Advisors Ltd. increased its holdings in shares of American Express by 42.2% in the 2nd quarter. DHJJ Financial Advisors Ltd. now owns 165 shares of the payment services company’s stock valued at $38,000 after acquiring an additional 49 shares during the period. BNP Paribas purchased a new position in shares of American Express in the 1st quarter valued at $40,000. POM Investment Strategies LLC purchased a new position in shares of American Express in the 2nd quarter valued at $42,000. Founders Capital Management purchased a new position in shares of American Express in the 2nd quarter valued at $46,000. Finally, Mowery & Schoenfeld Wealth Management LLC purchased a new position in shares of American Express in the 3rd quarter valued at $46,000. 84.33% of the stock is owned by institutional investors.

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.