American Express (NYSE:AXP) Issues FY24 Earnings Guidance

American Express (NYSE:AXP) issued an update on its FY24 earnings guidance on Friday morning. 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.

American Express Stock Up 1.5 %

American Express stock opened at $285.78 on Friday. American Express has a twelve month low of $140.91 and a twelve month high of $286.36. The stock’s fifty day simple moving average is $260.49 and its 200-day simple moving average is $243.43. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 1.74. The firm has a market capitalization of $205.56 billion, a P/E ratio of 23.54, a P/E/G 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, topping analysts’ consensus estimates of $3.26 by $0.23. 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 analyst estimates of $16.68 billion. During the same quarter in the prior year, the company earned $3.30 earnings per share. The company’s revenue was up 8.2% on a year-over-year basis. As a group, equities analysts expect that American Express will post 13.14 earnings per share for the current fiscal year.

American Express Dividend Announcement

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

Analyst Ratings Changes

A number of equities analysts recently commented on AXP shares. Evercore ISI boosted their target price on shares of American Express from $275.00 to $290.00 and gave the stock an “in-line” rating in a research note on Monday, October 7th. The Goldman Sachs Group boosted their target price on shares of American Express from $270.00 to $300.00 and gave the stock a “buy” rating in a research note on Monday, October 7th. Hsbc Global Res downgraded shares of American Express from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 8th. JPMorgan Chase & Co. downgraded shares of American Express from an “overweight” rating to a “neutral” rating and upped their price objective for the company from $268.00 to $286.00 in a research note on Monday, October 7th. Finally, Keefe, Bruyette & Woods upped their price objective on shares of American Express from $265.00 to $280.00 and gave the company an “outperform” rating in a research note on Monday, July 8th. Four research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $242.33.

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.