American Express (NYSE:AXP) Downgraded to Sell at BTIG Research

American Express (NYSE:AXP) was downgraded by BTIG Research from a “neutral” rating to a “sell” rating in a research report issued on Tuesday, Briefing.com reports. They presently have a $230.00 price target on the payment services company’s stock. BTIG Research’s target price suggests a potential downside of 16.02% from the company’s current price.

Other equities research analysts have also issued reports about the stock. Citigroup began coverage on shares of American Express in a report on Monday, June 10th. They set a “neutral” rating and a $250.00 price objective on the stock. Evercore ISI boosted their price target on American Express from $275.00 to $290.00 and gave the company an “in-line” rating in a report on Monday. The Goldman Sachs Group increased their price objective on American Express from $270.00 to $300.00 and gave the stock a “buy” rating in a report on Monday. Wells Fargo & Company boosted their target price on American Express from $285.00 to $300.00 and gave the company an “overweight” rating in a research note on Monday, September 30th. Finally, Compass Point initiated coverage on shares of American Express in a research note on Tuesday, July 16th. They set a “neutral” rating and a $260.00 price target for the company. Four equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $238.83.

American Express Stock Down 0.8 %

Shares of NYSE:AXP opened at $273.87 on Tuesday. The company has a 50 day moving average price of $253.91 and a two-hundred day moving average price of $240.57. The company has a market capitalization of $197.00 billion, a PE ratio of 22.56, a PEG ratio of 1.48 and a beta of 1.21. American Express has a 52 week low of $140.91 and a 52 week high of $276.79. 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 (NYSE:AXP) last issued its quarterly earnings data on Friday, July 19th. The payment services company reported $3.49 EPS 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 for the quarter, compared to the consensus estimate of $16.60 billion. During the same quarter last year, the business posted $2.89 EPS. The firm’s revenue was up 9.2% compared to the same quarter last year. Analysts forecast that American Express will post 13.13 earnings per share for the current year.

Hedge Funds Weigh In On American Express

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Waterloo Capital L.P. acquired a new stake in shares of American Express during the 4th quarter valued at $231,000. Cresset Asset Management LLC grew its holdings in shares of American Express by 2.0% during the fourth quarter. Cresset Asset Management LLC now owns 73,343 shares of the payment services company’s stock worth $13,740,000 after purchasing an additional 1,412 shares during the last quarter. Icon Wealth Advisors LLC acquired a new position in shares of American Express in the fourth quarter valued at approximately $501,000. Hancock Whitney Corp raised its holdings in American Express by 266.0% in the 4th quarter. Hancock Whitney Corp now owns 63,472 shares of the payment services company’s stock valued at $11,891,000 after buying an additional 46,131 shares during the last quarter. Finally, Vista Investment Management acquired a new stake in American Express during the 4th quarter worth approximately $203,000. 84.33% of the stock is currently owned by institutional investors and hedge funds.

About American Express

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.