American Express (NYSE:AXP) Updates FY24 Earnings Guidance

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

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on AXP. BTIG Research cut shares of American Express from a “neutral” rating to a “sell” rating and set a $230.00 price target for the company. in a report on Tuesday, October 8th. Royal Bank of Canada increased their target price on shares of American Express from $265.00 to $267.00 and gave the company an “outperform” rating in a report on Monday, July 22nd. Bank of America increased their target price on shares of American Express from $263.00 to $265.00 and gave the company a “neutral” rating in a report on Tuesday, September 17th. Monness Crespi & Hardt increased their target price on shares of American Express from $265.00 to $300.00 and gave the company a “buy” rating in a report on Monday. Finally, Compass Point began coverage on shares of American Express in a report on Tuesday, July 16th. They issued a “neutral” rating and a $260.00 target price for the company. Four equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $242.33.

American Express Stock Up 1.5 %

AXP stock opened at $285.78 on Friday. The stock has a market capitalization of $205.56 billion, a P/E ratio of 23.54, a PEG ratio of 1.50 and a beta of 1.21. The company has a debt-to-equity ratio of 1.74, a quick ratio of 1.66 and a current ratio of 1.66. American Express has a one year low of $140.91 and a one year high of $286.36. The company has a 50 day moving average price of $260.49 and a two-hundred day moving average price of $243.43.

American Express (NYSE:AXP) last announced its quarterly earnings data on Friday, October 18th. The payment services company reported $3.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.26 by $0.23. American Express had a net margin of 15.53% and a return on equity of 32.94%. The company had revenue of $16.64 billion during the quarter, compared to analysts’ expectations of $16.68 billion. During the same period in the previous year, the company earned $3.30 EPS. The business’s quarterly revenue was up 8.2% compared to the same quarter last year. As a group, sell-side analysts expect that American Express will post 13.14 EPS for the current year.

American Express Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Friday, October 4th will be paid a dividend of $0.70 per share. The ex-dividend date of this dividend is Friday, October 4th. This represents a $2.80 annualized dividend and a dividend yield of 0.98%. American Express’s dividend payout ratio is presently 23.06%.

American Express Company Profile

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.