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 $13.30-13.80 for the period, compared to the consensus EPS estimate of $12.97. The company issued revenue guidance of +9-11% yr/yr to ~$65.96-67.17, compared to the consensus revenue estimate of $66.42 billion. American Express also updated its FY 2024 guidance to 13.300-13.800 EPS.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Jefferies Financial Group raised their price objective on shares of American Express from $225.00 to $235.00 and gave the stock a hold rating in a report on Tuesday, July 9th. Oppenheimer reaffirmed an outperform rating on shares of American Express in a report on Friday, April 5th. Wells Fargo & Company raised their price target on shares of American Express from $275.00 to $285.00 and gave the company an overweight rating in a report on Tuesday, July 9th. Compass Point started coverage on shares of American Express in a report on Tuesday. They issued a neutral rating and a $260.00 price target for the company. Finally, William Blair reissued an outperform rating on shares of American Express in a report on Monday, June 3rd. Three equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, American Express has an average rating of Hold and a consensus target price of $227.65.

American Express Trading Down 4.0 %

Shares of AXP opened at $239.16 on Friday. The firm’s 50-day moving average price is $235.94 and its 200-day moving average price is $221.35. The firm has a market capitalization of $172.03 billion, a price-to-earnings ratio of 20.53, a PEG ratio of 1.43 and a beta of 1.21. The company has a current ratio of 1.62, a quick ratio of 1.62 and a debt-to-equity ratio of 1.70. American Express has a 1-year low of $140.91 and a 1-year high of $253.73.

American Express (NYSE:AXP) last posted its quarterly earnings data on Friday, July 19th. The payment services company reported $3.49 EPS for the quarter, topping the consensus estimate of $3.26 by $0.23. American Express had a net margin of 14.50% and a return on equity of 32.46%. The business had revenue of $16.33 billion for the quarter, compared to analyst estimates of $16.60 billion. During the same quarter in the previous year, the firm posted $2.89 earnings per share. American Express’s quarterly revenue was up 9.2% on a year-over-year basis. Sell-side analysts anticipate that American Express will post 12.98 EPS for the current year.

American Express Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 9th. Stockholders of record on Friday, July 5th will be paid a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 1.17%. The ex-dividend date of this dividend is Friday, July 5th. This is an increase from American Express’s previous quarterly dividend of $0.10. American Express’s dividend payout ratio is currently 23.06%.

Insider Transactions at American Express

In other news, insider Anna Marrs sold 3,592 shares of the company’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $230.93, for a total value of $829,500.56. Following the transaction, the insider now owns 19,932 shares in the company, valued at $4,602,896.76. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, insider Anna Marrs sold 3,592 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $230.93, for a total transaction of $829,500.56. Following the completion of the transaction, the insider now directly owns 19,932 shares of the company’s stock, valued at $4,602,896.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Vice Chairman Douglas E. Buckminster sold 117,309 shares of the business’s stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $232.44, for a total transaction of $27,267,303.96. Following the transaction, the insider now directly owns 110,318 shares of the company’s stock, valued at $25,642,315.92. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 177,717 shares of company stock worth $41,680,999. Corporate insiders own 0.12% of the company’s stock.

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.