Consumer services

Short-term interest on American Express (NYSE:AXP) rises 16.5%

American Express Inc (NYSE:AXP) was the target of significant short-term interest growth in August. As of August 31, there was short interest totaling 9,170,000 shares, up 16.5% from the total of 7,870,000 shares as of August 15. Currently, 1.2% of the stock’s shares are sold short. Based on an average daily volume of 3,360,000 shares, the day-to-cover ratio is currently 2.7 days.

American Express shares down 2.0%

NYSE AXP shares were down $3.05 during Friday trading hours, hitting $153.08. The stock recorded a trading volume of 6,527,339 shares, compared to an average volume of 2,499,895. The company has a market capitalization of $114.77 billion, a P/E ratio of 15.70, a ratio P/E/G of 1.19 and a beta of 1.14. The company has a debt ratio of 1.74, a quick ratio of 1.63 and a current ratio of 1.63. The company’s 50-day moving average price is $154.14 and its two-hundred-day moving average price is $162.68. American Express has a 52-week minimum of $134.12 and a 52-week maximum of $199.55.

American Express (NYSE:AXP – Get Rating) last announced its results on Friday, July 22. The payment services company reported earnings per share (EPS) of $2.57 for the quarter, beating analysts’ consensus estimate of $2.41 by $0.16. The company posted revenue of $13.40 billion in the quarter, compared to $12.54 billion expected by analysts. American Express had a return on equity of 32.81% and a net margin of 15.69%. The company’s revenue increased 30.8% year over year. In the same quarter a year earlier, the company had earned earnings per share of $2.80. Analysts expect American Express to post EPS of 9.88 for the current fiscal year.

Analyst upgrades and downgrades

Several equity research analysts have recently weighed in on AXP shares. Robert W. Baird upgraded American Express shares from a “neutral” rating to an “outperforming” rating and set a price target of $175.00 for the company in a Friday, June 17 report. Citigroup raised its price target on American Express shares from $148.00 to $159.00 in a Tuesday, July 26 report. Piper Sandler cut her price target on American Express shares from $202.00 to $163.00 and set an “overweight” rating for the company in a Wednesday, July 6 report. Wells Fargo & Company cut its price target on American Express shares from $215.00 to $190.00 and set an “overweight” rating for the company in a Wednesday, July 13 report. Finally, Morgan Stanley raised its price target on American Express shares from $143.00 to $155.00 and gave the company an “equal weight” rating in a Monday, July 25 report. One research analyst rated the stock with a sell rating, nine gave a hold rating and eight issued a buy rating for the company’s shares. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $181.53.

Institutional investors weigh in on American Express

Hedge funds have recently changed their stakes in the company. Covestor Ltd acquired a new position in shares of American Express in the fourth quarter worth $51,000. Equitable Holdings Inc. increased its stake in American Express shares by 4.2% in the fourth quarter. Equitable Holdings Inc. now owns 3,616 shares of the payment services company valued at $592,000 after buying an additional 145 shares last quarter. PFS Investments Inc. increased its stake in American Express shares by 10.2% in the fourth quarter. PFS Investments Inc. now owns 28,014 shares of the payment services company valued at $4,583,000 after buying 2,586 additional shares last quarter. Level Four Advisory Services LLC increased its stake in American Express by 6.8% during the fourth quarter. Level Four Advisory Services LLC now owns 2,249 shares of the payment services company worth $368,000 after acquiring 143 additional shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in American Express by 0.6% during the fourth quarter. Geode Capital Management LLC now owns 9,833,314 shares of the payment services company worth $1,603,735,000 after acquiring 55,027 additional shares last quarter. 84.10% of the shares are held by institutional investors.

American Express Company Profile

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American Express Company, together with its subsidiaries, provides payment and credit card products and travel-related services worldwide. The Company operates through three segments: Global Consumer Services Group, Global Commercial Services and Global Merchant and Network Services. Its products and services include payment and financing products; network services; accounts payable expense management products and services; and travel and lifestyle services.

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