American Express (NYSE:AXP) to Post Q2 2024 Earnings of $3.21 Per Share, Seaport Res Ptn Forecasts

American Express (NYSE:AXP) – Seaport Res Ptn dropped their Q2 2024 earnings per share estimates for American Express in a note issued to investors on Monday, April 22nd. Seaport Res Ptn analyst W. Ryan now anticipates that the payment services company will post earnings per share of $3.21 for the quarter, down from their prior estimate of $3.27. The consensus estimate for American Express’ current full-year earnings is $12.96 per share. Seaport Res Ptn also issued estimates for American Express’ Q3 2024 earnings at $3.36 EPS, Q4 2024 earnings at $3.09 EPS and FY2024 earnings at $13.00 EPS.

A number of other equities analysts have also recently issued reports on the company. Oppenheimer restated an “outperform” rating on shares of American Express in a report on Friday, April 5th. Evercore ISI lifted their price objective on American Express from $243.00 to $255.00 and gave the company an “in-line” rating in a report on Wednesday. Morgan Stanley lifted their price objective on American Express from $222.00 to $226.00 and gave the company an “equal weight” rating in a report on Monday. StockNews.com upgraded American Express from a “hold” rating to a “buy” rating in a report on Tuesday. Finally, UBS Group lifted their price objective on American Express from $188.00 to $206.00 and gave the company a “neutral” rating in a report on Monday, January 29th. Four equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $209.52.

American Express Price Performance

Shares of AXP opened at $239.23 on Tuesday. The company has a current ratio of 1.62, a quick ratio of 1.63 and a debt-to-equity ratio of 1.70. American Express has a 1 year low of $140.91 and a 1 year high of $240.55. The stock has a market cap of $172.08 billion, a P/E ratio of 19.71, a price-to-earnings-growth ratio of 1.33 and a beta of 1.23. The stock’s 50-day moving average price is $221.62 and its two-hundred day moving average price is $190.53.

American Express (NYSE:AXP) last issued 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. American Express had a return on equity of 32.46% and a net margin of 14.50%. The firm had revenue of $15.80 billion for the quarter, compared to analysts’ expectations of $15.79 billion. During the same quarter last year, the business earned $2.40 earnings per share. The company’s revenue was up 10.6% compared to the same quarter last year.

American Express Cuts Dividend

The firm 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 dividend yield of 0.17%. The ex-dividend date of this dividend is Thursday, April 4th. American Express’s payout ratio is presently 23.06%.

Insider Buying and Selling

In related news, CEO Stephen J. Squeri sold 69,356 shares of the business’s 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 directly owns 122,158 shares of the company’s stock, valued at approximately $26,022,097.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Stephen J. Squeri sold 69,356 shares of the business’s 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 directly owns 122,158 shares of the company’s stock, valued at approximately $26,022,097.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Laureen Seeger sold 84,420 shares of the business’s stock in a transaction that occurred on 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 transaction, the insider now directly owns 57,512 shares in the company, valued at $12,248,905.76. The disclosure for this sale can be found here. In the last three months, insiders have sold 172,047 shares of company stock valued at $36,528,388. 0.11% of the stock is owned by insiders.

Institutional Trading of American Express

Institutional investors have recently added to or reduced their stakes in the company. Venture Visionary Partners LLC boosted its stake in American Express by 0.3% in the 4th quarter. Venture Visionary Partners LLC now owns 23,211 shares of the payment services company’s stock valued at $4,349,000 after purchasing an additional 65 shares during the period. Cerity Partners LLC boosted its stake in American Express by 417.3% in the 4th quarter. Cerity Partners LLC now owns 415,696 shares of the payment services company’s stock valued at $77,876,000 after purchasing an additional 335,338 shares during the period. Cullen Investment Group LTD. bought a new stake in American Express in the 4th quarter valued at $2,460,000. J.W. Cole Advisors Inc. boosted its stake in American Express by 35.6% in the 4th quarter. J.W. Cole Advisors Inc. now owns 9,806 shares of the payment services company’s stock valued at $1,837,000 after purchasing an additional 2,572 shares during the period. Finally, International Assets Investment Management LLC boosted its stake in American Express by 1,313.2% in the 4th quarter. International Assets Investment Management LLC now owns 768,769 shares of the payment services company’s stock valued at $1,440,210,000 after purchasing an additional 714,370 shares during the period. 84.33% of the stock is currently owned by institutional investors.

About American Express

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.