The Goldman Sachs Group Increases American Express (NYSE:AXP) Price Target to $300.00

American Express (NYSE:AXP) had its target price lifted by equities research analysts at The Goldman Sachs Group from $270.00 to $300.00 in a report released on Monday, Benzinga reports. The firm presently has a “buy” rating on the payment services company’s stock. The Goldman Sachs Group’s price target would indicate a potential upside of 9.11% from the stock’s current price.

A number of other equities research analysts have also issued reports on AXP. Keefe, Bruyette & Woods lifted their target price on American Express from $265.00 to $280.00 and gave the company an “outperform” rating in a research report on Monday, July 8th. Wells Fargo & Company boosted their price objective on shares of American Express from $285.00 to $300.00 and gave the stock an “overweight” rating in a research report on Monday, September 30th. 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 report on Monday, July 22nd. JPMorgan Chase & Co. cut shares of American Express from an “overweight” rating to a “neutral” rating and raised their target price for the company from $268.00 to $286.00 in a research note on Monday. Finally, Monness Crespi & Hardt boosted their price objective on American Express from $260.00 to $265.00 and gave the stock a “buy” rating in a report on Monday, July 22nd. Three equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $236.35.

American Express Stock Down 0.4 %

NYSE AXP traded down $1.02 during trading hours on Monday, reaching $274.95. 239,280 shares of the company’s stock were exchanged, compared to its average volume of 2,913,320. 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 company has a market capitalization of $197.77 billion, a price-to-earnings ratio of 22.65, a price-to-earnings-growth ratio of 1.48 and a beta of 1.21. The company’s 50-day moving average is $253.91 and its two-hundred day moving average is $240.57. American Express has a one year low of $140.91 and a one year high of $276.79.

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 analysts’ consensus estimates of $3.26 by $0.23. The business had revenue of $16.33 billion for the quarter, compared to analyst estimates of $16.60 billion. American Express had a net margin of 15.53% and a return on equity of 32.94%. The firm’s quarterly revenue was up 9.2% on a year-over-year basis. During the same period last year, the business posted $2.89 earnings per share. On average, analysts forecast that American Express will post 13.13 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Scarborough Advisors LLC acquired a new position in shares of American Express during the fourth quarter valued at about $25,000. Game Plan Financial Advisors LLC boosted its stake 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 valued at $30,000 after purchasing an additional 50 shares during the last quarter. Creekmur Asset Management LLC bought a new stake in American Express during the 4th quarter worth approximately $32,000. Transcendent Capital Group LLC purchased a new stake in shares of American Express in the fourth quarter worth approximately $37,000. Finally, Riverview Trust Co bought a new position in shares of American Express in the first quarter valued at approximately $38,000. 84.33% of the stock is 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.