American Express Company (AXP) Stock Is Charged and Ready to Go
Several equities research analysts have commented on AXP shares. The 52-week range of the share price is from $57.15 - $82.00.
Plenty of analysts remain cautious on the stock in part due to the company's end of the relationship with wholesale retailer Costco Wholesale Corporation (NASDAQ:COST), which converted to Visa Inc (NYSE:V). Spinnaker Trust boosted its position in American Express Company by 5.6% in the second quarter. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here . Moreover, Ellington Management Group Llc has 2.47% invested in the company for 1.04 million shares.
If we look at the Volatility of the company, Week Volatility is 1.30%, whereas Month Volatility is at 1.35%. If the $85.86 price target is reached, the company will be worth $5.71 billion more.
American Express Company, together with its subsidiaries, is a global services company. The stock has a 50 day moving average price of $76.96 and a 200-day moving average price of $69.66. The company has a market capitalization of $71.88 billion, a P/E ratio of 14.07 and a beta of 1.19. Barclays PLC set a $83.00 price target on American Express Company and gave the stock a "hold" rating in a research report on Sunday, January 8th. American Express Company also was the recipient of some unusual options trading on Wednesday. The stock was trading on above-average volume. This is an increase of approximately 418% compared to the typical daily volume of 4,154 put options.
"Digital has become an important strategy for acquisition of new card members, particularly the millennial customers", said Jeff Campbell, executive vice president and chief financial officer during American Express' first quarter earnings conference call. Total revenue, net of interest expenses, increased 5% year over year to $1.4 billion, primarily driven by higher Card Member spending. American Express Company had a return on equity of 33.49% and a net margin of 16.63%.
AmEx added 1.7 million new cards across its US issuing businesses and 2.6 million worldwide in the quarter, slightly higher than the additions in the fourth quarter. Book value per share was $21.62 for the quarter, up 7.40 percent or $1.49 compared to $20.13 for the same period a year ago. The company's revenue for the quarter was down 2.5% on a year-over-year basis. Adjusted earnings per share (EPS) of $1.34 beat the Zacks Consensus Estimate of $1.28 but declined 8% year over year. Shareholders of record on Friday, April 7th will be paid a dividend of $0.32 per share. This is built on a simplified 1 to 5 scale where 1 represents a Strong Buy and 5 a Strong Sell. The company was downgraded on Wednesday, January 13 by Goldman Sachs. American Express Company's dividend payout ratio (DPR) is now 22.74%.
ILLEGAL ACTIVITY NOTICE: This story was first published by The Cerbat Gem and is owned by of The Cerbat Gem. If you are accessing this piece of content on another website, it was illegally copied and reposted in violation of global trademark & copyright laws. Also, Director John Joseph Brennan acquired 4,000 shares of the firm's stock in a transaction dated Wednesday, February 22nd. The stock price is moving down from its 20 days moving average with -1.97% and isolated negatively from 50 days moving average with -2.58%. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider L Kevin Cox sold 77,006 shares of the company's stock in a transaction that occurred on Wednesday, January 25th. For trailing twelve months, EPS value for the stock is $5.63.
Other large investors also recently added to or reduced their stakes in the company. Atria Investments LLC's holdings in American Express Company were worth $739,000 as of its most recent SEC filing. Norges Bank acquired a new stake in American Express Company during the fourth quarter worth $616,804,000. State Street Corp increased its stake in American Express Company by 10.9% in the fourth quarter. The firm owned 9,340 shares of the payment services company's stock after selling 878 shares during the period. The Manufacturers Life Insurance Company bought a new stake in American Express Company during the third quarter valued at approximately $197,673,000.
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