News headlines about American Express (NYSE:AXP) have been trending somewhat positive recently, Accern reports. The research firm rates the sentiment of press coverage by monitoring more than 20 million blog and news sources. Accern ranks coverage of companies on a scale of -1 to 1, with scores closest to one being the most favorable. American Express earned a coverage optimism score of 0.13 on Accern’s scale. Accern also gave news stories about the payment services company an impact score of 46.6118851575128 out of 100, indicating that recent press coverage is somewhat unlikely to have an impact on the stock’s share price in the next several days.
Here are some of the news stories that may have impacted Accern’s rankings:
- American Express: Adequate Progress – Seeking Alpha (seekingalpha.com)
- Analyzing American Express’s Asset Balances (marketrealist.com)
- Never Before Have I Seen A Cheaper Stock Than American Express (seekingalpha.com)
- Behind American Express’s Global Commercial Services Division (finance.yahoo.com)
- Analyzing American Express’s Global Merchant Services Division (finance.yahoo.com)
Several analysts have commented on AXP shares. Morgan Stanley dropped their target price on shares of American Express from $90.00 to $89.00 and set an “equal weight” rating on the stock in a report on Friday, September 8th. BidaskClub downgraded shares of American Express from a “buy” rating to a “hold” rating in a report on Tuesday, July 25th. Zacks Investment Research downgraded shares of American Express from a “buy” rating to a “hold” rating in a report on Wednesday, August 30th. Sanford C. Bernstein reiterated an “outperform” rating and issued a $100.00 price objective (up from $99.00) on shares of American Express in a report on Saturday, July 22nd. Finally, Guggenheim reiterated a “buy” rating and issued a $95.00 price objective (up from $90.00) on shares of American Express in a report on Saturday, July 22nd. Three equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and twelve have given a buy rating to the company’s stock. American Express currently has an average rating of “Hold” and an average price target of $86.29.
American Express (NYSE:AXP) last issued its earnings results on Wednesday, July 19th. The payment services company reported $1.47 EPS for the quarter, topping the consensus estimate of $1.44 by $0.03. American Express had a return on equity of 21.90% and a net margin of 14.11%. The business had revenue of $8.31 billion during the quarter, compared to the consensus estimate of $8.20 billion. During the same quarter last year, the company earned $2.10 EPS. The firm’s revenue was up .9% compared to the same quarter last year.
American Express declared that its Board of Directors has approved a stock repurchase program on Wednesday, June 28th that authorizes the company to repurchase $4.40 billion in shares. This repurchase authorization authorizes the payment services company to buy up to 5.9% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.
In other American Express news, insider Susan Sobbott sold 6,000 shares of the firm’s stock in a transaction dated Thursday, September 7th. The stock was sold at an average price of $84.39, for a total value of $506,340.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Kenneth I. Chenault sold 789,503 shares of the firm’s stock in a transaction dated Monday, July 24th. The stock was sold at an average price of $84.62, for a total value of $66,807,743.86. Following the completion of the transaction, the chief executive officer now owns 889,836 shares of the company’s stock, valued at approximately $75,297,922.32. The disclosure for this sale can be found here. In the last 90 days, insiders sold 949,387 shares of company stock valued at $80,451,099. 0.67% of the stock is owned by corporate insiders.
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About American Express
American Express Company, together with its subsidiaries, is a global services company. The Company’s principal products and services are charge and credit card products, and travel-related services, which are offered to consumers and businesses around the world. Its segments include the U.S. Consumer Services (USCS), International Consumer and Network Services (ICNS), Global Commercial Services (GCS) and Global Merchant Services (GMS).
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