American Express (NYSE:AXP) Releases 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 13.300-13.800 for the period, compared to the consensus estimate of 12.970. The company issued revenue guidance of $66.0 billion-$67.2 billion, compared to the consensus revenue estimate of $66.4 billion. American Express also updated its FY24 guidance to $13.30-13.80 EPS.

American Express Stock Performance

Shares of American Express stock opened at $242.38 on Friday. The company has a debt-to-equity ratio of 1.70, a quick ratio of 1.62 and a current ratio of 1.62. American Express has a 1 year low of $140.91 and a 1 year high of $253.73. The firm’s 50-day simple moving average is $235.94 and its 200-day simple moving average is $221.96. The firm has a market cap of $174.34 billion, a PE ratio of 19.97, a price-to-earnings-growth ratio of 1.39 and a beta of 1.21.

American Express (NYSE:AXP) last announced its quarterly earnings data on Friday, July 19th. The payment services company reported $3.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.26 by $0.23. The firm had revenue of $16.33 billion for the quarter, compared to analysts’ expectations of $16.60 billion. American Express had a return on equity of 32.46% and a net margin of 14.50%. American Express’s revenue for the quarter was up 9.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.89 earnings per share. Equities analysts forecast that American Express will post 13.11 earnings per share for the current fiscal year.

American Express Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 9th. Shareholders of record on Friday, July 5th will be issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 1.16%. 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 payout ratio is currently 23.06%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the stock. StockNews.com raised shares of American Express from a hold rating to a buy rating in a report on Tuesday, April 23rd. BTIG Research began coverage on American Express in a report on Friday, June 7th. They set a neutral rating for the company. Compass Point started coverage on American Express in a report on Tuesday, July 16th. They issued a neutral rating and a $260.00 price target on the stock. Barclays upped their price objective on American Express from $221.00 to $223.00 and gave the stock an equal weight rating in a research note on Tuesday, July 9th. Finally, Evercore ISI increased their price objective on shares of American Express from $243.00 to $255.00 and gave the stock an in-line rating in a report on Wednesday, April 24th. Three analysts have rated the stock with a sell rating, twelve have assigned a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, American Express has a consensus rating of Hold and a consensus target price of $227.65.

Insider Buying and Selling at American Express

In other news, insider Anna Marrs sold 3,592 shares of American Express 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 of the company’s stock, valued at approximately $4,602,896.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Vice Chairman Douglas E. Buckminster sold 117,309 shares of the company’s stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $232.44, for a total transaction of $27,267,303.96. Following the completion of the sale, the insider now directly owns 110,318 shares of the company’s stock, valued at $25,642,315.92. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Anna Marrs sold 3,592 shares of the stock in a transaction 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 completion of the transaction, the insider now owns 19,932 shares of the company’s stock, valued at approximately $4,602,896.76. The disclosure for this sale can be found here. In the last three months, insiders sold 177,717 shares of company stock valued at $41,680,999. 0.12% of the stock is owned by insiders.

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.