American Express (NYSE:AXP) Issues FY24 Earnings Guidance

American Express (NYSE:AXP) updated its FY24 earnings guidance on Friday. The company provided EPS guidance of $13.75-$14.05 for the period, compared to the consensus EPS estimate of $13.62. American Express also updated its FY 2024 guidance to 13.750-14.050 EPS.

Analyst Ratings Changes

Several research analysts have recently weighed in on AXP shares. Keefe, Bruyette & Woods increased their price objective on shares of American Express from $265.00 to $280.00 and gave the stock an “outperform” rating in a report on Monday, July 8th. Wells Fargo & Company upped their price target on shares of American Express from $285.00 to $300.00 and gave the stock an “overweight” rating in a research report on Monday, September 30th. HSBC lowered shares of American Express from a “buy” rating to a “hold” rating and lifted their price target for the company from $265.00 to $270.00 in a report on Tuesday, October 8th. Compass Point began coverage on American Express in a research report on Tuesday, July 16th. They issued a “neutral” rating and a $260.00 target price on the stock. Finally, BTIG Research cut American Express from a “neutral” rating to a “sell” rating and set a $230.00 target price on the stock. in a report on Tuesday, October 8th. Four analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $242.33.

American Express Stock Performance

Shares of AXP stock opened at $276.79 on Monday. 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 company’s fifty day moving average price is $261.27 and its two-hundred day moving average price is $244.02. The firm has a market capitalization of $199.10 billion, a P/E ratio of 22.80, a P/E/G ratio of 1.50 and a beta of 1.21. American Express has a 12 month low of $140.91 and a 12 month high of $286.36.

American Express (NYSE:AXP) last released its quarterly earnings results on Friday, October 18th. The payment services company reported $3.49 EPS for the quarter, topping the consensus estimate of $3.27 by $0.22. American Express had a return on equity of 32.94% and a net margin of 15.53%. The business had revenue of $16.64 billion for the quarter, compared to analysts’ expectations of $16.68 billion. During the same quarter in the previous year, the firm posted $3.30 earnings per share. The company’s revenue was up 8.2% compared to the same quarter last year. On average, research analysts anticipate that American Express will post 13.14 earnings per share for the current fiscal year.

American Express Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Friday, October 4th will be given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.01%. The ex-dividend date of this dividend is Friday, October 4th. American Express’s payout ratio is currently 23.06%.

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.