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

American Express (NYSE:AXP) updated its FY 2024 earnings guidance on Friday. 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.

Analyst Ratings Changes

A number of research analysts have weighed in on AXP shares. BTIG Research cut shares of American Express from a “neutral” rating to a “sell” rating and set a $230.00 price objective for the company. in a report on Tuesday, October 8th. Keefe, Bruyette & Woods upped their target price 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. Bank of America boosted their target price on American Express from $263.00 to $265.00 and gave the stock a “neutral” rating in a report on Tuesday, September 17th. Wells Fargo & Company increased their price target on American Express from $285.00 to $300.00 and gave the company an “overweight” rating in a report on Monday, September 30th. Finally, Hsbc Global Res lowered American Express from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 8th. Four 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.com, the stock has an average rating of “Hold” and an average price target of $242.33.

American Express Trading Down 3.1 %

NYSE AXP opened at $276.79 on Monday. 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 firm has a market cap of $199.10 billion, a price-to-earnings ratio of 22.80, a PEG ratio of 1.50 and a beta of 1.21. The firm has a 50 day simple moving average of $261.27 and a 200-day simple moving average of $244.02. American Express has a one year low of $140.91 and a one year high of $286.36.

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 $3.27 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 period last year, the firm earned $3.30 earnings per share. The company’s revenue for the quarter was up 8.2% compared to the same quarter last year. Equities research analysts anticipate that American Express will post 13.14 EPS for the current fiscal year.

American Express Announces Dividend

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