American Express (NYSE:AXP) Updates FY24 Earnings Guidance

American Express (NYSE:AXP) updated its FY24 earnings guidance on Friday. The company provided earnings per share guidance of $12.65-$13.15 for the period, compared to the consensus earnings per share estimate of $12.84. The company issued revenue guidance of $65.79-$67.0 billion, compared to the consensus revenue estimate of $66.24 billion. American Express also updated its FY 2024 guidance to 12.650-13.150 EPS.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. Barclays reiterated an equal weight rating and issued a $221.00 target price (up previously from $220.00) on shares of American Express in a research report on Tuesday, April 9th. JPMorgan Chase & Co. increased their target price on shares of American Express from $214.00 to $240.00 and gave the company an overweight rating in a research report on Wednesday, April 3rd. UBS Group increased their target price on shares of American Express from $188.00 to $206.00 and gave the company a neutral rating in a research report on Monday, January 29th. Royal Bank of Canada raised their price objective on shares of American Express from $220.00 to $226.00 and gave the company an outperform rating in a research report on Monday, January 29th. Finally, StockNews.com lowered shares of American Express from a buy rating to a hold rating in a research report on Monday, April 15th. Four equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and nine have issued a buy rating to the company. According to MarketBeat, American Express currently has a consensus rating of Hold and a consensus target price of $201.62.

American Express Price Performance

AXP stock opened at $231.05 on Friday. The firm has a 50-day moving average of $220.06 and a two-hundred day moving average of $188.35. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 1.71. The firm has a market capitalization of $167.25 billion, a PE ratio of 20.61, a P/E/G ratio of 1.25 and a beta of 1.23. American Express has a one year low of $140.91 and a one year high of $231.69.

American Express (NYSE:AXP) last posted its quarterly 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 business had revenue of $15.80 billion during the quarter, compared to analyst estimates of $15.79 billion. American Express had a net margin of 13.84% and a return on equity of 30.99%. The firm’s revenue was up 10.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.40 earnings per share. On average, analysts forecast that American Express will post 12.83 earnings per share for the current year.

American Express Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 10th. Stockholders of record on Friday, April 5th will be given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.17%. The ex-dividend date is Thursday, April 4th. American Express’s dividend payout ratio (DPR) is 24.98%.

Insider Transactions at American Express

In related news, CEO Stephen J. Squeri sold 69,356 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $213.02, for a total transaction of $14,774,215.12. Following the transaction, the chief executive officer now owns 122,158 shares of the company’s stock, valued at $26,022,097.16. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other American Express news, CEO Stephen J. Squeri sold 69,356 shares of the stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $213.02, for a total transaction of $14,774,215.12. Following the transaction, the chief executive officer now owns 122,158 shares in the company, valued at $26,022,097.16. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Monique Herena sold 11,242 shares of the firm’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $208.41, for a total transaction of $2,342,945.22. Following the completion of the sale, the insider now owns 13,874 shares in the company, valued at approximately $2,891,480.34. The disclosure for this sale can be found here. Insiders sold 172,047 shares of company stock valued at $36,528,388 over the last three months. 0.12% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Tyler Stone Wealth Management bought a new position in shares of American Express in the second quarter valued at about $27,000. Main Street Group LTD acquired a new stake in American Express in the fourth quarter worth about $32,000. Bell Investment Advisors Inc grew its position in shares of American Express by 52.1% during the 4th quarter. Bell Investment Advisors Inc now owns 359 shares of the payment services company’s stock worth $67,000 after buying an additional 123 shares during the period. Castleview Partners LLC acquired a new position in shares of American Express during the 1st quarter worth about $63,000. Finally, Almanack Investment Partners LLC. acquired a new position in shares of American Express in the 3rd quarter valued at approximately $53,000. 84.33% of the stock is owned by institutional investors.

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.