American Express (NYSE:AXP) Shares Down 2.6%

American Express (NYSE:AXP)’s stock price dropped 2.6% during mid-day trading on Wednesday . The stock traded as low as $246.38 and last traded at $246.48. Approximately 819,936 shares were traded during mid-day trading, a decline of 72% from the average daily volume of 2,972,321 shares. The stock had previously closed at $253.08.

Analyst Upgrades and Downgrades

AXP has been the subject of a number of recent research reports. Keefe, Bruyette & Woods lifted their price target on American Express from $265.00 to $280.00 and gave the stock an “outperform” rating in a report on Monday, July 8th. Monness Crespi & Hardt lifted their target price on American Express from $260.00 to $265.00 and gave the company a “buy” rating in a research report on Monday, July 22nd. William Blair reiterated an “outperform” rating on shares of American Express in a report on Monday, June 3rd. Compass Point initiated coverage on shares of American Express in a report on Tuesday, July 16th. They issued a “neutral” rating and a $260.00 price objective on the stock. Finally, Royal Bank of Canada increased their target price on shares of American Express from $265.00 to $267.00 and gave the stock an “outperform” rating in a research note on Monday, July 22nd. Three equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, American Express presently has a consensus rating of “Hold” and an average price target of $230.70.

American Express Trading Up 1.4 %

The company has a debt-to-equity ratio of 1.74, a quick ratio of 1.66 and a current ratio of 1.66. The firm has a market capitalization of $180.67 billion, a price-to-earnings ratio of 20.69, a PEG ratio of 1.38 and a beta of 1.21. The company has a 50-day moving average price of $239.68 and a 200-day moving average price of $230.96.

American Express (NYSE:AXP) last announced its quarterly earnings results on Friday, July 19th. The payment services company reported $3.49 earnings per share for the quarter, beating analysts’ consensus estimates of $3.26 by $0.23. American Express had a net margin of 15.53% and a return on equity of 32.94%. The firm had revenue of $16.33 billion during the quarter, compared to analysts’ expectations of $16.60 billion. During the same period in the previous year, the company earned $2.89 earnings per share. American Express’s quarterly revenue was up 9.2% compared to the same quarter last year. As a group, research analysts forecast that American Express will post 13.24 EPS for the current fiscal year.

Institutional Trading of American Express

Several large investors have recently bought and sold shares of AXP. Scarborough Advisors LLC acquired a new stake in American Express in the 4th quarter valued at about $25,000. Tennessee Valley Asset Management Partners acquired a new position in shares of American Express during the 4th quarter worth approximately $28,000. Sachetta LLC acquired a new stake in American Express during the 4th quarter valued at $29,000. Vermillion & White Wealth Management Group LLC acquired a new stake in shares of American Express during the fourth quarter valued at $29,000. Finally, Game Plan Financial Advisors LLC increased its position in American Express by 62.5% during the 1st quarter. Game Plan Financial Advisors LLC now owns 130 shares of the payment services company’s stock worth $30,000 after purchasing an additional 50 shares in the last quarter. Institutional investors and hedge funds own 84.33% of the company’s stock.

American Express Company Profile

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.