American Express (NYSE:AXP) Rating Lowered to Hold at Hsbc Global Res

by · The Markets Daily

American Express (NYSE:AXP) was downgraded by research analysts at Hsbc Global Res from a “strong-buy” rating to a “hold” rating in a research report issued on Tuesday, Zacks.com reports.

AXP has been the topic of a number of other reports. Monness Crespi & Hardt lifted their price target on shares of American Express from $260.00 to $265.00 and gave the company a “buy” rating in a report on Monday, July 22nd. Barclays raised their price objective on American Express from $223.00 to $250.00 and gave the company an “equal weight” rating in a research report on Tuesday. Bank of America boosted their target price on American Express from $263.00 to $265.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 17th. Citigroup began coverage on American Express in a report on Monday, June 10th. They set a “neutral” rating and a $250.00 price target for the company. Finally, The Goldman Sachs Group upped their price objective on American Express from $270.00 to $300.00 and gave the stock a “buy” rating in a report on Monday. Four analysts have rated the stock with a sell rating, fifteen have given a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, American Express has a consensus rating of “Hold” and a consensus target price of $239.96.

Get Our Latest Stock Analysis on AXP

American Express Stock Performance

NYSE AXP opened at $271.48 on Tuesday. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 1.74. American Express has a twelve month low of $140.91 and a twelve month high of $276.79. The business has a 50-day moving average price of $254.76 and a 200-day moving average price of $241.19. The firm has a market cap of $195.28 billion, a price-to-earnings ratio of 22.36, a price-to-earnings-growth ratio of 1.48 and a beta of 1.21.

American Express (NYSE:AXP – Get Free Report) last posted its quarterly earnings results on Friday, July 19th. The payment services company reported $3.49 earnings per share for the quarter, topping the consensus estimate of $3.26 by $0.23. American Express had a return on equity of 32.94% and a net margin of 15.53%. The business had revenue of $16.33 billion during the quarter, compared to the consensus estimate of $16.60 billion. During the same period in the prior year, the company posted $2.89 EPS. The firm’s revenue for the quarter was up 9.2% compared to the same quarter last year. As a group, equities research analysts predict that American Express will post 13.13 EPS for the current fiscal year.

Hedge Funds Weigh In On American Express

Several hedge funds have recently bought and sold shares of the business. Sovereign Financial Group Inc. grew its holdings in shares of American Express by 2.7% in the third quarter. Sovereign Financial Group Inc. now owns 1,467 shares of the payment services company’s stock worth $398,000 after purchasing an additional 38 shares during the last quarter. Sawgrass Asset Management LLC grew its stake in American Express by 0.4% in the 2nd quarter. Sawgrass Asset Management LLC now owns 10,384 shares of the payment services company’s stock worth $2,404,000 after acquiring an additional 41 shares in the last quarter. Davis Investment Partners LLC increased its position in shares of American Express by 0.5% during the third quarter. Davis Investment Partners LLC now owns 8,011 shares of the payment services company’s stock worth $2,170,000 after acquiring an additional 42 shares during the period. Ignite Planners LLC raised its stake in shares of American Express by 0.9% during the second quarter. Ignite Planners LLC now owns 4,682 shares of the payment services company’s stock valued at $1,103,000 after acquiring an additional 43 shares in the last quarter. Finally, Willner & Heller LLC boosted its holdings in shares of American Express by 4.1% in the second quarter. Willner & Heller LLC now owns 1,087 shares of the payment services company’s stock valued at $252,000 after purchasing an additional 43 shares during the period. Institutional investors own 84.33% of the company’s stock.

About American Express

(Get Free Report)

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.

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