American Express (NYSE:AXP) Issues FY24 Earnings Guidance

American Express (NYSE:AXP) updated its FY24 earnings guidance on Friday. The company provided earnings per share guidance of $13.75-$14.05 for the period, compared to the consensus earnings per share estimate of $13.62. American Express also updated its FY 2024 guidance to 13.750-14.050 EPS.

Analysts Set New Price Targets

AXP has been the topic of several research reports. Hsbc Global Res lowered American Express from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 8th. Morgan Stanley lifted their price target on shares of American Express from $226.00 to $248.00 and gave the company an “equal weight” rating in a research report on Monday, October 14th. Barclays upped their price objective on shares of American Express from $223.00 to $250.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 8th. JPMorgan Chase & Co. lowered shares of American Express from an “overweight” rating to a “neutral” rating and lifted their target price for the company from $268.00 to $286.00 in a report on Monday, October 7th. Finally, Wells Fargo & Company raised their price objective on American Express from $285.00 to $300.00 and gave the company an “overweight” rating in a research report on Monday, September 30th. Four research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $242.33.

American Express Stock Down 3.1 %

Shares of AXP opened at $276.82 on Friday. The company’s 50-day simple moving average is $261.27 and its 200-day simple moving average is $243.78. The company has a debt-to-equity ratio of 1.74, a quick ratio of 1.66 and a current ratio of 1.66. American Express has a 1 year low of $140.91 and a 1 year high of $286.36. The stock has a market capitalization of $199.12 billion, a PE ratio of 22.80, a P/E/G ratio of 1.50 and a beta of 1.21.

American Express (NYSE:AXP) last issued its quarterly earnings results on Friday, October 18th. The payment services company reported $3.49 earnings per share for the quarter, topping the consensus estimate of $3.27 by $0.22. American Express had a return on equity of 32.94% and a net margin of 15.53%. The company had revenue of $16.64 billion for the quarter, compared to the consensus estimate of $16.68 billion. During the same quarter in the prior year, the business earned $3.30 EPS. American Express’s revenue was up 8.2% on a year-over-year basis. Analysts forecast that American Express will post 13.14 earnings per share for the current fiscal year.

American Express Announces Dividend

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. This represents a $2.80 annualized dividend and a yield of 1.01%. The ex-dividend date is Friday, October 4th. American Express’s payout ratio is 23.06%.

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.