American Express (NYSE:AXP) Given New $268.00 Price Target at TD Cowen

American Express (NYSE:AXP) had its price target raised by equities researchers at TD Cowen from $260.00 to $268.00 in a report issued on Monday, Benzinga reports. The brokerage presently has a “hold” rating on the payment services company’s stock. TD Cowen’s target price suggests a potential downside of 2.55% from the stock’s previous close.

A number of other analysts have also recently weighed in on AXP. HSBC cut American Express from a “buy” rating to a “hold” rating and increased their price target for the stock from $265.00 to $270.00 in a research report on Tuesday, October 8th. Wells Fargo & Company boosted their target price on shares of American Express from $285.00 to $300.00 and gave the stock an “overweight” rating in a report on Monday, September 30th. Evercore ISI raised their price objective on shares of American Express from $275.00 to $290.00 and gave the stock an “in-line” rating in a research note on Monday, October 7th. The Goldman Sachs Group upped their price objective on shares of American Express from $270.00 to $300.00 and gave the company a “buy” rating in a research note on Monday, October 7th. Finally, Keefe, Bruyette & Woods increased their price target on shares of American Express from $265.00 to $280.00 and gave the stock an “outperform” rating in a research note on Monday, July 8th. Four investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $244.42.

American Express Stock Down 0.6 %

AXP stock opened at $275.00 on Monday. The company has a debt-to-equity ratio of 1.74, a quick ratio of 1.66 and a current ratio of 1.66. American Express has a one year low of $140.91 and a one year high of $286.36. The stock has a market capitalization of $197.81 billion, a PE ratio of 22.65, a price-to-earnings-growth ratio of 1.50 and a beta of 1.21. The company has a fifty day moving average of $261.27 and a 200-day moving average of $244.02.

American Express (NYSE:AXP) last announced its quarterly earnings data on Friday, October 18th. The payment services company reported $3.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.27 by $0.22. The business had revenue of $16.64 billion for the quarter, compared to the consensus estimate of $16.68 billion. American Express had a net margin of 15.53% and a return on equity of 32.94%. The company’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.30 earnings per share. As a group, analysts expect that American Express will post 13.14 EPS for the current year.

Hedge Funds Weigh In On American Express

Institutional investors have recently modified their holdings of the stock. Northwest Investment Counselors LLC purchased a new position in shares of American Express during the first quarter worth $51,000. Riverview Trust Co purchased a new position in shares of American Express in the first quarter valued at approximately $38,000. Dynamic Advisor Solutions LLC raised its holdings in American Express by 86.4% in the first quarter. Dynamic Advisor Solutions LLC now owns 12,793 shares of the payment services company’s stock valued at $2,913,000 after acquiring an additional 5,928 shares in the last quarter. Hoxton Planning & Management LLC increased its stake in American Express by 7.1% in the first quarter. Hoxton Planning & Management LLC now owns 1,229 shares of the payment services company’s stock valued at $280,000 after purchasing an additional 82 shares during the last quarter. Finally, West Paces Advisors Inc. increased its position in shares of American Express by 14.1% during the first quarter. West Paces Advisors Inc. now owns 584 shares of the payment services company’s stock worth $133,000 after purchasing an additional 72 shares in the last quarter. 84.33% of the stock is owned by hedge funds and other institutional investors.

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.