Stock shares of the American Express (NYSE: AXP) saw a heavy trading volume on Thursday resulting in a much stronger earnings report that was expected, as reported by Bidnessetc.com. 5,714,326 shares were exchanged during trading; a rise of 40% from the previous session’s volume of 4,070,032 shares. American Express stock share was last traded at a price of $86.25 and was previously closed at $87.40.
AXP stated $1.33 as its earnings on every stock share for the quarter, following the consensus estimate of the analysts of $1.29 by $0.04. For the quarter, American Express has revenue of $8.20 billion which is equated to the consensus estimate of $8.36 billion. During the same quarter of last year, the company placed $1.15 earnings on every stock share. The company has also recently publicized a quarterly dividend, which is planned for 9th of May 2011, Friday.
AXP has been the focus of a number of current research reports. Forecasters from Zacks restated a “neutral” rating on shares of the company in a research note released on Thursday. According to them AXP now have a targeted price of $92.00 on the stock share. Distinctly, analysts from Nomura in a research note released on Thursday have restated a “buy” rating on the shares of American Express Company. They have now set a price target of $102.00 on the stock. Finally, the analysts at Sanford C. Bernstein elevated its price target on stock shares of AXP from $90.00 to $92.00, in a study note on 8th of April. Two investment analysts have graded the stock with a trade rating, 9 have allocated a hold rating and 10 have allotted a buy rating to the company’s stock.