American Express (NYSE:AXP) Updates 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 Price Performance

Shares of AXP stock opened at $242.38 on Monday. The company has a quick ratio of 1.62, a current ratio of 1.62 and a debt-to-equity ratio of 1.70. The company has a market cap of $174.34 billion, a P/E ratio of 19.97, a P/E/G ratio of 1.39 and a beta of 1.21. American Express has a twelve month low of $140.91 and a twelve month high of $253.73. The business has a fifty day simple moving average of $235.94 and a 200 day simple moving average of $222.21.

American Express (NYSE:AXP) last announced its quarterly earnings results 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 company had revenue of $16.33 billion for the quarter, compared to analyst estimates of $16.60 billion. American Express had a net margin of 14.50% and a return on equity of 32.46%. The firm’s revenue was up 9.2% on a year-over-year basis. During the same period in the previous year, the firm posted $2.89 EPS. On average, sell-side analysts forecast that American Express will post 13.11 EPS for the current fiscal year.

American Express Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 9th. Stockholders of record on Friday, July 5th will be paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.16%. This is a boost from American Express’s previous quarterly dividend of $0.10. The ex-dividend date of this dividend is Friday, July 5th. American Express’s dividend payout ratio is presently 23.06%.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. Keefe, Bruyette & Woods upped their price objective on American Express from $265.00 to $280.00 and gave the company an outperform rating in a research note on Monday, July 8th. BTIG Research started coverage on shares of American Express in a research report on Friday, June 7th. They issued a neutral rating for the company. Wells Fargo & Company lifted their price target on shares of American Express from $275.00 to $285.00 and gave the stock an overweight rating in a report on Tuesday, July 9th. Barclays increased their price objective on American Express from $221.00 to $223.00 and gave the company an equal weight rating in a report on Tuesday, July 9th. Finally, Evercore ISI lifted their target price on American Express from $243.00 to $255.00 and gave the stock an in-line rating in a report on Wednesday, April 24th. Three investment analysts have rated the stock with a sell rating, twelve have given a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, American Express currently has a consensus rating of Hold and an average price target of $227.65.

Insider Activity at American Express

In other American Express news, insider Anna Marrs sold 3,592 shares of American Express stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $230.93, for a total transaction of $829,500.56. Following the transaction, the insider now directly owns 19,932 shares of the company’s stock, valued at approximately $4,602,896.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other American Express news, insider Anna Marrs sold 3,592 shares of the stock in a transaction dated 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 sale, the insider now owns 19,932 shares in the company, valued at approximately $4,602,896.76. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Vice Chairman Douglas E. Buckminster sold 117,309 shares of the business’s stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $232.44, for a total value of $27,267,303.96. Following the completion of the transaction, the insider now owns 110,318 shares in the company, valued at approximately $25,642,315.92. The disclosure for this sale can be found here. Insiders have sold a total of 177,717 shares of company stock valued at $41,680,999 over the last 90 days. Insiders own 0.12% of the company’s stock.

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.