American Express (NYSE:AXP) PT Raised to $300.00 at The Goldman Sachs Group

American Express (NYSE:AXP) had its target price hoisted by research analysts at The Goldman Sachs Group from $270.00 to $300.00 in a report released on Monday, Benzinga reports. The firm currently has a “buy” rating on the payment services company’s stock. The Goldman Sachs Group’s price objective would suggest a potential upside of 11.52% from the stock’s current price.

Other equities analysts also recently issued reports about the stock. Monness Crespi & Hardt upped their price target on shares of American Express from $260.00 to $265.00 and gave the company a “buy” rating in a report on Monday, July 22nd. Keefe, Bruyette & Woods upped their target price on American Express from $265.00 to $280.00 and gave the company an “outperform” rating in a research note on Monday, July 8th. Jefferies Financial Group raised their price target on American Express from $225.00 to $235.00 and gave the stock a “hold” rating in a research note on Tuesday, July 9th. Barclays upped their price objective on American Express from $221.00 to $223.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 9th. Finally, Royal Bank of Canada increased their target price on American Express from $265.00 to $267.00 and gave the stock an “outperform” rating in a research note on Monday, July 22nd. Four investment 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. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $239.96.

American Express Price Performance

NYSE:AXP opened at $269.00 on Monday. The firm has a market capitalization of $193.49 billion, a price-to-earnings ratio of 22.16, a PEG ratio of 1.48 and a beta of 1.21. 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 $254.43 and a 200-day simple moving average of $240.88. American Express has a 1 year low of $140.91 and a 1 year high of $276.79.

American Express (NYSE:AXP) last issued its quarterly earnings results on Friday, July 19th. The payment services company reported $3.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.26 by $0.23. American Express had a return on equity of 32.94% and a net margin of 15.53%. The company had revenue of $16.33 billion during the quarter, compared to the consensus estimate of $16.60 billion. During the same period last year, the company earned $2.89 earnings per share. American Express’s revenue was up 9.2% on a year-over-year basis. Equities analysts forecast that American Express will post 13.13 EPS for the current year.

Hedge Funds Weigh In On American Express

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Sovereign Financial Group Inc. boosted its holdings in shares of American Express by 2.7% in the 3rd quarter. Sovereign Financial Group Inc. now owns 1,467 shares of the payment services company’s stock valued at $398,000 after buying an additional 38 shares in the last quarter. Sawgrass Asset Management LLC grew its holdings in shares of American Express by 0.4% during the second quarter. Sawgrass Asset Management LLC now owns 10,384 shares of the payment services company’s stock worth $2,404,000 after purchasing an additional 41 shares during the last quarter. Davis Investment Partners LLC increased its position in shares of American Express by 0.5% during the third quarter. Davis Investment Partners LLC now owns 8,011 shares of the payment services company’s stock worth $2,170,000 after purchasing an additional 42 shares in the last quarter. Ignite Planners LLC lifted its holdings in shares of American Express by 0.9% in the 2nd quarter. Ignite Planners LLC now owns 4,682 shares of the payment services company’s stock valued at $1,103,000 after purchasing an additional 43 shares during the last quarter. Finally, Willner & Heller LLC boosted its position in shares of American Express by 4.1% in the 2nd quarter. Willner & Heller LLC now owns 1,087 shares of the payment services company’s stock valued at $252,000 after purchasing an additional 43 shares during the period. Hedge funds and other institutional investors own 84.33% of the company’s stock.

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.