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

Wall Street Analysts Forecast Growth

AXP has been the topic of a number of recent analyst reports. Hsbc Global Res lowered shares of American Express from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 8th. Evercore ISI boosted their price target on American Express from $275.00 to $290.00 and gave the stock an “in-line” rating in a report on Monday, October 7th. HSBC lowered shares of American Express from a “buy” rating to a “hold” rating and raised their target price for the stock from $265.00 to $270.00 in a research report on Tuesday, October 8th. Bank of America upped their price target 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, BTIG Research cut shares of American Express from a “neutral” rating to a “sell” rating and set a $230.00 price target on the stock. in a research report on Tuesday, October 8th. Four research analysts have rated the stock with a sell rating, fifteen have given a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $242.33.

American Express Price Performance

AXP opened at $276.82 on Friday. The stock has a fifty day moving average price of $261.27 and a 200 day moving average price of $243.78. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 1.74. American Express has a 1 year low of $140.91 and a 1 year high of $286.36. The stock has a market cap of $199.12 billion, a price-to-earnings ratio of 22.80, a PEG 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 (EPS) for the quarter, topping the consensus estimate of $3.27 by $0.22. American Express had a net margin of 15.53% and a return on equity of 32.94%. The company had revenue of $16.64 billion for the quarter, compared to the consensus estimate of $16.68 billion. During the same quarter in the previous year, the firm posted $3.30 EPS. The business’s revenue was up 8.2% compared to the same quarter last year. Analysts forecast that American Express will post 13.14 EPS for the current fiscal year.

American Express Announces Dividend

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