American Express (NYSE:AXP) Releases Earnings Results, Beats Expectations By $0.22 EPS

American Express (NYSE:AXP) released its quarterly earnings results on Friday. The payment services company reported $3.49 EPS for the quarter, beating the consensus estimate of $3.27 by $0.22, Briefing.com reports. American Express had a net margin of 15.53% and a return on equity of 32.94%. The business had revenue of $16.64 billion for the quarter, compared to the consensus estimate of $16.68 billion. During the same period in the prior year, the company posted $3.30 earnings per share. American Express’s revenue was up 8.2% compared to the same quarter last year. 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 Performance

Shares of AXP opened at $276.79 on Monday. American Express has a 1 year low of $140.91 and a 1 year high of $286.36. 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 stock’s fifty day moving average price is $261.27 and its two-hundred day moving average price is $244.02. The firm has a market cap of $199.10 billion, a PE ratio of 22.80, a PEG ratio of 1.50 and a beta of 1.21.

American Express Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 8th. Shareholders of record on Friday, October 4th will be issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 1.01%. The ex-dividend date of this dividend is Friday, October 4th. American Express’s dividend payout ratio (DPR) is 23.06%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on AXP shares. Monness Crespi & Hardt increased their price target on shares of American Express from $265.00 to $300.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. Royal Bank of Canada raised their price target on shares of American Express from $265.00 to $267.00 and gave the company an “outperform” rating in a research note on Monday, July 22nd. Bank of America upped their target price on American Express from $263.00 to $265.00 and gave the company a “neutral” rating in a report on Tuesday, September 17th. HSBC downgraded American Express from a “buy” rating to a “hold” rating and increased their price target for the stock from $265.00 to $270.00 in a report on Tuesday, October 8th. Finally, Jefferies Financial Group raised their price objective on shares of American Express from $225.00 to $235.00 and gave the stock a “hold” rating in a research report on Tuesday, July 9th. Four research analysts have rated the stock with a sell rating, fifteen have given a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $242.33.

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.