Q2 2024 EPS Estimates for American Express (NYSE:AXP) Lowered by Seaport Res Ptn

American Express (NYSE:AXP) – Analysts at Seaport Res Ptn cut their Q2 2024 earnings per share (EPS) estimates for American Express in a research note issued on Monday, April 22nd. Seaport Res Ptn analyst W. Ryan now forecasts that the payment services company will post earnings of $3.21 per share for the quarter, down from their prior forecast of $3.27. The consensus estimate for American Express’ current full-year earnings is $12.92 per share. Seaport Res Ptn also issued estimates for American Express’ Q3 2024 earnings at $3.36 EPS, Q4 2024 earnings at $3.09 EPS and FY2024 earnings at $13.00 EPS.

American Express (NYSE:AXP) last announced its quarterly earnings results on Friday, April 19th. The payment services company reported $3.33 EPS for the quarter, beating analysts’ consensus estimates of $2.97 by $0.36. American Express had a return on equity of 32.39% and a net margin of 14.50%. The company had revenue of $15.80 billion during the quarter, compared to analysts’ expectations of $15.79 billion. During the same period in the prior year, the business posted $2.40 EPS. American Express’s revenue was up 10.6% on a year-over-year basis.

Other equities research analysts have also issued research reports about the company. Robert W. Baird lowered American Express from a “neutral” rating to an “underperform” rating and set a $190.00 price target on the stock. in a research report on Monday, January 8th. DZ Bank downgraded American Express from a “hold” rating to a “sell” rating in a research note on Thursday, January 4th. Stephens upgraded American Express from an “underweight” rating to an “equal weight” rating and boosted their price target for the company from $148.00 to $193.00 in a report on Tuesday, January 2nd. UBS Group lifted their target price on American Express from $188.00 to $206.00 and gave the company a “neutral” rating in a research report on Monday, January 29th. Finally, JPMorgan Chase & Co. raised their price target on shares of American Express from $214.00 to $240.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 3rd. Four investment analysts have rated the stock with a sell rating, nine have given a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $208.24.

American Express Trading Up 2.5 %

Shares of NYSE AXP opened at $238.88 on Tuesday. The company has a quick ratio of 1.63, a current ratio of 1.73 and a debt-to-equity ratio of 1.69. American Express has a twelve month low of $140.91 and a twelve month high of $239.42. The company’s fifty day moving average is $221.05 and its 200-day moving average is $190.19. The stock has a market cap of $172.92 billion, a price-to-earnings ratio of 19.68, a P/E/G ratio of 1.32 and a beta of 1.23.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in AXP. Venture Visionary Partners LLC grew its stake in American Express by 0.3% in the fourth quarter. Venture Visionary Partners LLC now owns 23,211 shares of the payment services company’s stock valued at $4,349,000 after acquiring an additional 65 shares during the period. Cerity Partners LLC grew its position in American Express by 417.3% in the 4th quarter. Cerity Partners LLC now owns 415,696 shares of the payment services company’s stock worth $77,876,000 after purchasing an additional 335,338 shares in the last quarter. Cullen Investment Group LTD. bought a new position in shares of American Express during the 4th quarter worth approximately $2,460,000. J.W. Cole Advisors Inc. boosted its position in American Express by 35.6% in the fourth quarter. J.W. Cole Advisors Inc. now owns 9,806 shares of the payment services company’s stock worth $1,837,000 after purchasing an additional 2,572 shares during the last quarter. Finally, International Assets Investment Management LLC increased its position in shares of American Express by 1,313.2% during the 4th quarter. International Assets Investment Management LLC now owns 768,769 shares of the payment services company’s stock valued at $1,440,210,000 after purchasing an additional 714,370 shares during the last quarter. 84.33% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at American Express

In related news, CEO Stephen J. Squeri sold 69,356 shares of the stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $213.02, for a total value of $14,774,215.12. Following the completion of the transaction, the chief executive officer now owns 122,158 shares of the company’s stock, valued at approximately $26,022,097.16. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, insider Laureen Seeger sold 84,420 shares of American Express stock in a transaction on Monday, February 12th. The shares were sold at an average price of $212.98, for a total transaction of $17,979,771.60. Following the transaction, the insider now owns 57,512 shares in the company, valued at $12,248,905.76. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Stephen J. Squeri sold 69,356 shares of the stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $213.02, for a total value of $14,774,215.12. Following the completion of the sale, the chief executive officer now directly owns 122,158 shares of the company’s stock, valued at approximately $26,022,097.16. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 172,047 shares of company stock valued at $36,528,388. 0.11% of the stock is currently owned by insiders.

American Express Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 10th. Investors of record on Friday, April 5th will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.17%. The ex-dividend date of this dividend is Thursday, April 4th. American Express’s dividend payout ratio (DPR) is presently 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.