Goldman Sachs Maintains American Express Company to Neutral with Price Target $67.00

Brokerage firm Goldman Sachs Maintains its rating on American Express Company(NYSE:AXP). In a research note issued to the investors, the brokerage major Raises the price-target to $67.00 per share. The shares have been rated Neutral. The rating by Goldman Sachs was issued on Jun 7, 2016.

In a different note, On Apr 22, 2016, Deutsche Bank said it Downgrades its rating on American Express Company. The shares have been rated ‘Hold’ by the firm. On Apr 21, 2016, Morgan Stanley said it Maintains its rating on American Express Company. In the research note, the firm Raises the price-target to $64.00 per share. The shares have been rated ‘Equal-weight’ by the firm. On Apr 21, 2016, Keefe Bruyette & Woods said it Maintains its rating on American Express Company. In the research note, the firm Raises the price-target to $67.00 per share. The shares have been rated ‘Market Perform’ by the firm. On Apr 21, 2016, Goldman Sachs said it Maintains its rating on American Express Company. In the research note, the firm Lowers the price-target to $64.00 per share. The shares have been rated ‘Neutral’ by the firm. On Apr 21, 2016, Macquarie said it Maintains its rating on American Express Company. In the research note, the firm Raises the price-target to $59.00 per share. The shares have been rated ‘Underperform’ by the firm. Compass Point said it Initiates Coverage on American Express Company, according to a research note issued on Apr 15, 2016. The shares have been rated ‘Buy’ by the firm.

American Express Company (AXP) shares turned negative on Fridays trading session with the shares closing down -0.74 points or -1.13% at a volume of 39,39,141. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $65.48. The peak price level was also seen at $65.48 while the days lowest was $64.71. Finally the shares closed at $64.97. The 52-week high of the shares is $81.92 while the 52-week low is $50.27. According to the latest information available, the market cap of the company is $61,789 M.

American Express Company has also declared a cash dividend of $0.2900 on May 3, 2016. The shares will quote ex-dividend on Jun 29, 2016 and the record date has been fixed on Jul 1, 2016. The dividend payable date has been fixed on Aug 10, 2016.

American Express Company(AXP) last announced its earnings results on Apr 20, 2016 for Fiscal Year 2016 and Q1.Company reported revenue of $8.09B. Analysts had an estimated revenue of $8.08B. Earnings per share were $1.45. Analysts had estimated an EPS of $1.34.

Several Insider Transactions has been reported to the SEC. On May 27, 2016, Susan Sobbott (Pres., Glbl Commercial Pymnts) sold 14,682 shares at $65.50 per share price.Also, On May 25, 2016, Michael John O’neill (EVP, Corp Affairs & Comm) sold 51,690 shares at $64.95 per share price.On May 20, 2016, Kenneth I Chenault (Chairman & CEO) sold 838,968 shares at $62.65 per share price, according to the Form-4 filing with the securities and exchange commission.

American Express Company is a global services company. The Company’s principal products and services are charge and credit payment card products and travel-related services offered to consumers and businesses around the world. The Company’s segments include U.S. Card Services International Card Services Global Commercial Services and Global Network & Merchant Services. The Company’s United States banking subsidiaries Centurion Bank and AEBFSB issue a range of Card products and services. It also issues its charge and credit Cards around the world either on its own or as cobrands with partnering institutions. The Company provides expense management and travel services to companies and organizations through its Global Corporate Payments and Global Business Travel businesses. The Global Network & Merchant Services (GNMS) segment operates a global payments network that processes and settles card transactions.

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