American Express (AXP) Set to Announce Quarterly Earnings on Friday

American Express (NYSE:AXP) is set to issue its quarterly earnings data before the market opens on Friday, October 18th. Analysts expect the company to announce earnings of $3.26 per share for the quarter. American Express has set its FY 2024 guidance at 13.300-13.800 EPS and its FY24 guidance at $13.30-13.80 EPS.Persons that are interested in registering for the company’s earnings conference call can do so using this link.

American Express (NYSE:AXP) last released its earnings results on Friday, July 19th. The payment services company reported $3.49 earnings per share for the quarter, topping the consensus estimate of $3.26 by $0.23. American Express had a net margin of 15.53% and a return on equity of 32.94%. The company had revenue of $16.33 billion during the quarter, compared to the consensus estimate of $16.60 billion. During the same quarter in the previous year, the firm earned $2.89 EPS. The company’s revenue was up 9.2% on a year-over-year basis. On average, analysts expect American Express to post $13 EPS for the current fiscal year and $15 EPS for the next fiscal year.

American Express Price Performance

Shares of NYSE:AXP opened at $281.67 on Thursday. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 1.74. American Express has a fifty-two week low of $140.91 and a fifty-two week high of $281.87. The firm has a 50-day simple moving average of $259.44 and a 200 day simple moving average of $243.14. The company has a market cap of $202.61 billion, a PE ratio of 23.20, a P/E/G ratio of 1.50 and a beta of 1.21.

American Express Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Investors of record on Friday, October 4th will be given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 0.99%. The ex-dividend date is Friday, October 4th. American Express’s dividend payout ratio is presently 23.06%.

Analysts Set New Price Targets

AXP has been the subject of a number of analyst reports. The Goldman Sachs Group boosted their target price on shares of American Express from $270.00 to $300.00 and gave the company a “buy” rating in a research note on Monday, October 7th. BTIG Research lowered shares of American Express from a “neutral” rating to a “sell” rating and set a $230.00 target price for the company. in a research note on Tuesday, October 8th. JPMorgan Chase & Co. lowered shares of American Express from an “overweight” rating to a “neutral” rating and boosted their target price for the company from $268.00 to $286.00 in a research note on Monday, October 7th. Morgan Stanley boosted their target price on shares of American Express from $226.00 to $248.00 and gave the company an “equal weight” rating in a research note on Monday. Finally, 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. Four research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $242.33.

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.