American Express (NYSE:AXP) Updates 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 Upgrades and Downgrades

A number of equities analysts recently weighed in on AXP shares. Monness Crespi & Hardt upped their target price on shares of American Express from $265.00 to $300.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. Evercore ISI boosted their target price on American Express from $275.00 to $290.00 and gave the company an “in-line” rating in a research note on Monday, October 7th. JPMorgan Chase & Co. cut shares of American Express from an “overweight” rating to a “neutral” rating and raised their price target for the stock from $268.00 to $286.00 in a research note on Monday, October 7th. Bank of America boosted their price objective on shares of American Express from $263.00 to $265.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 17th. Finally, Compass Point assumed coverage on shares of American Express in a research 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 given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $242.33.

American Express Trading Down 3.1 %

Shares of AXP stock opened at $276.79 on Friday. 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. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 1.74. American Express has a 12-month low of $140.91 and a 12-month high of $286.36. The firm has a 50 day moving average price of $261.27 and a two-hundred day moving average price of $243.90.

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

American Express Dividend Announcement

The firm also recently disclosed 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 annualized dividend and a yield of 1.01%. The ex-dividend date of this dividend is Friday, October 4th. American Express’s dividend payout ratio (DPR) is 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.