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 (EPS) guidance of 13.750-14.050 for the period, compared to the consensus 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

Several equities analysts recently issued reports on AXP shares. 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 target on the stock. The Goldman Sachs Group upped their target price on American Express from $270.00 to $300.00 and gave the stock a “buy” rating in a report on Monday, October 7th. Royal Bank of Canada lifted their price target on American Express from $265.00 to $267.00 and gave the company an “outperform” rating in a research report on Monday, July 22nd. Bank of America increased their price objective on American Express from $263.00 to $265.00 and gave the stock a “neutral” rating in a report on Tuesday, September 17th. Finally, Keefe, Bruyette & Woods boosted their target price on shares of American Express from $265.00 to $280.00 and gave the company an “outperform” rating in a report on Monday, July 8th. 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. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $242.33.

American Express Stock Performance

Shares of NYSE AXP opened at $276.79 on Friday. The firm’s 50-day moving average price is $261.27 and its 200-day moving average price is $243.90. American Express has a 52-week low of $140.91 and a 52-week high of $286.36. The company has a market cap of $199.10 billion, a PE ratio of 22.80, a PEG 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 (NYSE:AXP) last posted its earnings results on Friday, October 18th. The payment services company reported $3.49 EPS for the quarter, topping analysts’ consensus estimates of $3.27 by $0.22. The business had revenue of $16.64 billion during the quarter, compared to the consensus estimate of $16.68 billion. American Express had a net margin of 15.53% and a return on equity of 32.94%. The firm’s revenue was up 8.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.30 EPS. As a group, analysts anticipate that American Express will post 13.14 EPS for the current year.

American Express Announces Dividend

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