The stock of American Express Company (NYSE:AXP) hit a new 52-week high and has $79.26 target or 9.00% above today’s $72.72 share price. The 5 months bullish chart indicates low risk for the $66.72B company. The 1-year high was reported on Nov, 23 by Barchart.com. If the $79.26 price target is reached, the company will be worth $6.00B more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 1.69M shares traded hands. American Express Company (NYSE:AXP) has risen 9.31% since April 21, 2016 and is uptrending. It has outperformed by 3.98% the S&P500.
Analysts await American Express Company (NYSE:AXP) to report earnings on January, 19. They expect $0.99 earnings per share, down 19.51% or $0.24 from last year’s $1.23 per share. AXP’s profit will be $908.32M for 18.36 P/E if the $0.99 EPS becomes a reality. After $1.24 actual earnings per share reported by American Express Company for the previous quarter, Wall Street now forecasts -20.16% negative EPS growth.
American Express Company (NYSE:AXP) Ratings Coverage
Out of 26 analysts covering American Express Company (NYSE:AXP), 5 rate it a “Buy”, 7 “Sell”, while 14 “Hold”. This means 19% are positive. American Express Company has been the topic of 42 analyst reports since July 23, 2015 according to StockzIntelligence Inc. Morgan Stanley downgraded the shares of AXP in a report on Monday, January 25 to “Equal-Weight” rating. Piper Jaffray reinitiated the stock with “Neutral” rating in Wednesday, November 25 report. Keefe Bruyette & Woods downgraded American Express Company (NYSE:AXP) rating on Friday, January 22. Keefe Bruyette & Woods has “Market Perform” rating and $67 price target. The firm has “Neutral” rating given on Wednesday, January 13 by Goldman Sachs. Credit Suisse maintained American Express Company (NYSE:AXP) on Tuesday, January 19 with “Underperform” rating. The firm has “Equal-Weight” rating given on Friday, January 22 by Barclays Capital. The firm earned “Hold” rating on Monday, November 9 by Topeka Capital Markets. The rating was maintained by Macquarie Research with “Underperform” on Thursday, April 21. The firm has “Neutral” rating given on Tuesday, June 7 by Goldman Sachs. The rating was downgraded by Argus Research to “Hold” on Monday, January 25.
According to Zacks Investment Research, “American Express Company is primarily engaged in the business of providing travel related services, financial advisory services and international banking services throughout the world. American Express Travel Related Services Company, Inc. provides a variety of products and services, including, global network services, the American Express Card, the Optima Card and other consumer and corporate lending products, stored value products, and several others.”
Insitutional Activity: The institutional sentiment increased to 0.86 in Q2 2016. Its up 0.12, from 0.74 in 2016Q1. The ratio improved, as 77 funds sold all American Express Company shares owned while 441 reduced positions. 67 funds bought stakes while 317 increased positions. They now own 746.25 million shares or 3.32% less from 771.91 million shares in 2016Q1.
Hanson Doremus Mgmt last reported 2,831 shares in the company. Mairs And Incorporated, a Minnesota-based fund reported 1.06 million shares. Fukoku Mutual Life Insur Company accumulated 0.06% or 4,900 shares. D E Shaw Comm Inc holds 0.09% or 810,454 shares in its portfolio. The United Kingdom-based Old Mutual Glob Investors (Uk) has invested 0.22% in American Express Company (NYSE:AXP). Davenport Limited Company has invested 0% of its portfolio in American Express Company (NYSE:AXP). Ubs Asset Management Americas has 3.22M shares for 0.22% of their US portfolio. Moreover, Mount Vernon Assoc Md has 2.21% invested in American Express Company (NYSE:AXP) for 17,075 shares. Foster Dykema Cabot And Incorporated Ma owns 12,285 shares or 0.17% of their US portfolio. Nordea Inv Management holds 856,480 shares or 0.15% of its portfolio. Vsr Financial Svcs last reported 0.08% of its portfolio in the stock. Exchange Cap Mgmt accumulated 0.03% or 1,325 shares. Pekin Singer Strauss Asset Mgmt Il accumulated 63,749 shares or 0.85% of the stock. Peapack Gladstone has 15,283 shares for 0% of their US portfolio. Mayo Inv Advisers Ltd Liability Com owns 14,500 shares or 0.18% of their US portfolio.
Insider Transactions: Since May 24, 2016, the stock had 0 insider purchases, and 3 sales for $21.37 million net activity. Shares for $9.46 million were sold by Gupta Ashwini. Another trade for 51,690 shares valued at $3.36M was sold by O’Neill Michael John. 14,682 American Express Company (NYSE:AXP) shares with value of $961,671 were sold by Sobbott Susan.
Another recent and important American Express Company (NYSE:AXP) news was published by Investorplace.com which published an article titled: “Should You Buy the Dow? American Express Company (AXP) Stock” on October 28, 2016.
AXP Company Profile
American Express Company, incorporated on June 10, 1965, is a services company. The Company’s principal services and products are charge and credit payment card products, and travel-related services offered to clients and businesses around the world. The Company’s divisions include U.S. Consumer Services (USCS), International Consumer and Network Services (ICNS), Global Commercial Services (GCS) and Global Merchant Services (GMS).
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