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.

American Express Price Performance

NYSE AXP opened at $285.78 on Friday. The business has a 50 day simple moving average of $260.49 and a 200 day simple moving average of $243.43. American Express has a 52-week low of $140.91 and a 52-week high of $286.36. The company has a debt-to-equity ratio of 1.74, a quick ratio of 1.66 and a current ratio of 1.66. The stock has a market cap of $205.56 billion, a price-to-earnings ratio of 23.54, a PEG ratio of 1.50 and a beta of 1.21.

American Express (NYSE:AXP) last posted its earnings results on Friday, October 18th. The payment services company reported $3.49 earnings per share (EPS) 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 during the quarter, compared to analysts’ expectations of $16.68 billion. During the same period in the prior year, the business earned $3.30 EPS. American Express’s revenue for the quarter was up 8.2% compared to the same quarter last year. Analysts anticipate that American Express will post 13.14 earnings per share for the current fiscal year.

American Express Dividend Announcement

The firm 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 yield of 0.98%. American Express’s payout ratio is 23.06%.

Wall Street Analysts Forecast Growth

AXP has been the subject of a number of recent research reports. Hsbc Global Res downgraded American Express from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 8th. Keefe, Bruyette & Woods upped their price target on American Express from $265.00 to $280.00 and gave the stock an “outperform” rating in a research report on Monday, July 8th. Evercore ISI upped their price target on American Express from $275.00 to $290.00 and gave the stock an “in-line” rating in a research report on Monday, October 7th. Barclays upped their price target on American Express from $223.00 to $250.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 8th. Finally, HSBC downgraded American Express from a “buy” rating to a “hold” rating and upped their price target for the stock from $265.00 to $270.00 in a research report on Tuesday, October 8th. Four investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, American Express currently has an average rating of “Hold” and a consensus price target of $242.33.

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.