American Express (NYSE:AXP) Announces Quarterly Earnings Results

by · The Cerbat Gem

American Express (NYSE:AXP) released its quarterly earnings results on Friday. The payment services company reported $3.49 earnings per share for the quarter, beating analysts’ consensus estimates of $3.26 by $0.23, Briefing.com reports. The company had revenue of $16.64 billion for the quarter, compared to analysts’ expectations of $16.68 billion. American Express had a return on equity of 32.94% and a net margin of 15.53%. The business’s revenue for the quarter was up 8.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.30 earnings per share. American Express updated its FY 2024 guidance to 13.750-14.050 EPS and its FY24 guidance to $13.75-$14.05 EPS.

American Express Stock Up 1.5 %

AXP stock opened at $285.78 on Friday. American Express has a 52-week low of $140.91 and a 52-week high of $286.36. The company’s 50 day simple moving average is $260.49 and its 200-day simple moving average is $243.43. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.66 and a quick ratio of 1.66. The firm has a market capitalization of $205.56 billion, a P/E ratio of 23.54, a P/E/G ratio of 1.50 and a beta of 1.21.

American Express Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 8th. Stockholders of record on Friday, October 4th will be issued a dividend of $0.70 per share. The ex-dividend date of this dividend is Friday, October 4th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 0.98%. American Express’s dividend payout ratio is currently 23.06%.

Analysts Set New Price Targets

AXP has been the topic of several recent analyst reports. HSBC downgraded American Express from a “buy” rating to a “hold” rating and lifted their target price for the company from $265.00 to $270.00 in a research note on Tuesday, October 8th. Jefferies Financial Group upped their price objective on shares of American Express from $225.00 to $235.00 and gave the stock a “hold” rating in a report on Tuesday, July 9th. Evercore ISI increased their target price on shares of American Express from $275.00 to $290.00 and gave the company an “in-line” rating in a research report on Monday, October 7th. Royal Bank of Canada boosted their price target on shares of American Express from $265.00 to $267.00 and gave the stock an “outperform” rating in a research report on Monday, July 22nd. Finally, Hsbc Global Res cut shares of American Express from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 8th. Four analysts have rated the stock with a sell rating, fifteen have given a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, American Express currently has an average rating of “Hold” and a consensus price target of $242.33.

View Our Latest Analysis on AXP

American Express Company Profile

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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.

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