American Express (NYSE:AXP) Issues FY 2024 Earnings Guidance

American Express (NYSE:AXP) updated its FY 2024 earnings guidance on Friday. The company provided EPS guidance of 12.650-13.150 for the period, compared to the consensus EPS estimate of 12.080. The company issued revenue guidance of $66.0 billion-$67.2 billion, compared to the consensus revenue estimate of $62.4 billion. American Express also updated its FY24 guidance to $12.65-$13.15 EPS.

Wall Street Analyst Weigh In

Several research firms recently issued reports on AXP. Royal Bank of Canada upped their price target on American Express from $220.00 to $226.00 and gave the company an outperform rating in a research report on Monday, January 29th. DZ Bank lowered American Express from a hold rating to a sell rating in a research report on Thursday, January 4th. Deutsche Bank Aktiengesellschaft initiated coverage on American Express in a research report on Wednesday, January 10th. They issued a buy rating and a $235.00 target price on the stock. BMO Capital Markets increased their target price on American Express from $157.00 to $159.00 and gave the stock an underperform rating in a research report on Monday, January 29th. Finally, Oppenheimer reaffirmed an outperform rating on shares of American Express in a research report on Friday, April 5th. Four analysts have rated the stock with a sell rating, ten have assigned a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of Hold and a consensus price target of $201.62.

American Express Price Performance

NYSE:AXP opened at $231.05 on Friday. The business’s 50-day moving average price is $220.06 and its 200 day moving average price is $188.35. The firm has a market cap of $167.25 billion, a P/E ratio of 20.61, a PEG ratio of 1.25 and a beta of 1.23. American Express has a 52-week low of $140.91 and a 52-week high of $231.69. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 1.71.

American Express (NYSE:AXP) last released its earnings results on Friday, April 19th. The payment services company reported $3.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.97 by $0.36. The firm had revenue of $15.80 billion for the quarter, compared to analyst estimates of $15.79 billion. American Express had a return on equity of 30.99% and a net margin of 13.84%. American Express’s revenue was up 10.6% compared to the same quarter last year. During the same period in the previous year, the company earned $2.40 earnings per share. As a group, sell-side analysts predict that American Express will post 12.83 earnings per share for the current fiscal year.

American Express Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 10th. Investors of record on Friday, April 5th will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.17%. The ex-dividend date of this dividend is Thursday, April 4th. American Express’s payout ratio is currently 24.98%.

Insider Buying and Selling

In related news, CEO Stephen J. Squeri sold 69,356 shares of American Express stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $213.02, for a total value of $14,774,215.12. Following 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Stephen J. Squeri sold 69,356 shares of American Express stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $213.02, for a total value of $14,774,215.12. Following 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Laureen Seeger sold 84,420 shares of American Express stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $212.98, for a total value of $17,979,771.60. Following the completion of the transaction, the insider now directly owns 57,512 shares in the company, valued at approximately $12,248,905.76. The disclosure for this sale can be found here. Insiders have sold a total of 172,047 shares of company stock valued at $36,528,388 over the last three months. Company insiders own 0.12% of the company’s stock.

Hedge Funds Weigh In On American Express

A number of institutional investors have recently bought and sold shares of AXP. Tyler Stone Wealth Management acquired a new stake in American Express during the 2nd quarter worth about $27,000. Main Street Group LTD acquired a new stake in American Express during the 4th quarter worth about $32,000. Almanack Investment Partners LLC. acquired a new stake in American Express during the 3rd quarter worth about $53,000. Castleview Partners LLC acquired a new stake in American Express during the 1st quarter worth about $63,000. Finally, Financial Freedom LLC acquired a new stake in American Express during the 4th quarter worth about $65,000. Hedge funds and other institutional investors own 84.33% 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.