American Express (NYSE:AXP) PT Raised to $265.00 at Bank of America

American Express (NYSE:AXP) had its price target hoisted by equities research analysts at Bank of America from $263.00 to $265.00 in a report issued on Tuesday, Benzinga reports. The firm currently has a “neutral” rating on the payment services company’s stock. Bank of America‘s price objective points to a potential upside of 1.06% from the company’s current price.

A number of other research analysts have also recently commented on the company. BTIG Research assumed coverage on American Express in a report on Friday, June 7th. They issued a “neutral” rating on the stock. Wells Fargo & Company upped their price objective on American Express from $275.00 to $285.00 and gave the company an “overweight” rating in a report on Tuesday, July 9th. Royal Bank of Canada upped their price objective on American Express from $265.00 to $267.00 and gave the company an “outperform” rating in a report on Monday, July 22nd. William Blair reiterated an “outperform” rating on shares of American Express in a report on Monday, June 3rd. Finally, Monness Crespi & Hardt upped their price objective on American Express from $260.00 to $265.00 and gave the company a “buy” rating in a report on Monday, July 22nd. Three investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $230.78.

American Express Price Performance

AXP stock opened at $262.21 on Tuesday. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.66 and a quick ratio of 1.66. The business has a 50 day simple moving average of $247.89 and a 200-day simple moving average of $236.40. The firm has a market capitalization of $188.61 billion, a PE ratio of 21.60, a price-to-earnings-growth ratio of 1.42 and a beta of 1.21. American Express has a 1 year low of $140.91 and a 1 year high of $267.22.

American Express (NYSE:AXP) last posted its quarterly earnings results on Friday, July 19th. The payment services company reported $3.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.26 by $0.23. The business had revenue of $16.33 billion during the quarter, compared to analyst estimates of $16.60 billion. American Express had a return on equity of 32.94% and a net margin of 15.53%. The business’s revenue was up 9.2% compared to the same quarter last year. During the same period in the prior year, the business earned $2.89 earnings per share. Equities research analysts anticipate that American Express will post 13.12 earnings per share for the current fiscal year.

Hedge Funds Weigh In On American Express

Several large investors have recently bought and sold shares of the business. Newbridge Financial Services Group Inc. increased its holdings in American Express by 47.4% in the second quarter. Newbridge Financial Services Group Inc. now owns 1,405 shares of the payment services company’s stock valued at $325,000 after buying an additional 452 shares during the last quarter. Prio Wealth Limited Partnership increased its holdings in American Express by 2.2% in the second quarter. Prio Wealth Limited Partnership now owns 33,620 shares of the payment services company’s stock valued at $7,785,000 after buying an additional 732 shares during the last quarter. Heritage Wealth Management Inc. purchased a new position in American Express in the second quarter valued at $332,000. Lazari Capital Management Inc. increased its holdings in American Express by 3.2% in the second quarter. Lazari Capital Management Inc. now owns 3,643 shares of the payment services company’s stock valued at $844,000 after buying an additional 113 shares during the last quarter. Finally, Sanctuary Advisors LLC purchased a new position in American Express in the second quarter valued at $27,168,000. Hedge funds and other institutional investors 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.