American Express (NYSE:AXP) Updates FY 2024 Earnings Guidance

American Express (NYSE:AXP) issued an update on its FY 2024 earnings guidance on Friday morning. The company provided earnings per share guidance of 13.750-14.050 for the period, compared to the consensus earnings per share estimate of 13.770. The company issued revenue guidance of $66.0 billion-$66.0 billion, compared to the consensus revenue estimate of $66.0 billion. American Express also updated its FY24 guidance to $13.75-$14.05 EPS.

American Express Price Performance

NYSE AXP opened at $276.79 on Friday. The business’s fifty day moving average is $261.27 and its 200 day moving average is $243.90. American Express has a fifty-two week low of $140.91 and a fifty-two week high of $286.36. The company has a debt-to-equity ratio of 1.74, a quick ratio of 1.66 and a current ratio of 1.66. The company has a market capitalization of $199.10 billion, a PE ratio of 22.80, a price-to-earnings-growth ratio of 1.50 and a beta of 1.21.

American Express (NYSE:AXP) last posted its quarterly earnings data on Friday, October 18th. The payment services company reported $3.49 earnings per share for the quarter, beating analysts’ consensus estimates of $3.27 by $0.22. The firm had revenue of $16.64 billion for the quarter, compared to analysts’ expectations of $16.68 billion. American Express had a return on equity of 32.94% and a net margin of 15.53%. The business’s quarterly revenue was up 8.2% on a year-over-year basis. During the same period in the previous year, the firm earned $3.30 EPS. Sell-side analysts predict that American Express will post 13.14 earnings per share for the current year.

American Express Dividend Announcement

The company 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 $0.70 dividend. The ex-dividend date is Friday, October 4th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.01%. American Express’s dividend payout ratio (DPR) is presently 23.06%.

Analyst Ratings Changes

A number of research firms recently weighed in on AXP. JPMorgan Chase & Co. cut shares of American Express from an “overweight” rating to a “neutral” rating and lifted their target price for the company from $268.00 to $286.00 in a research note on Monday, October 7th. Hsbc Global Res lowered American Express from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 8th. HSBC downgraded American Express from a “buy” rating to a “hold” rating and lifted their target price for the company from $265.00 to $270.00 in a research note on Tuesday, October 8th. Evercore ISI upped their price target on American Express from $275.00 to $290.00 and gave the stock an “in-line” rating in a research note on Monday, October 7th. Finally, Compass Point began coverage on shares of American Express in a research report on Tuesday, July 16th. They set a “neutral” rating and a $260.00 price objective on the stock. Four research analysts have rated the stock with a sell rating, fifteen have given a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $242.33.

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.