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

American Express (NYSE:AXP) – Investment analysts at Seaport Res Ptn lowered their Q2 2024 earnings per share estimates for American Express in a research report issued to clients and investors on Monday, April 22nd. Seaport Res Ptn analyst W. Ryan now forecasts that the payment services company will post earnings of $3.21 per share for the quarter, down from their previous forecast 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 analysts have also issued reports on the company. Stephens upgraded American Express from an “underweight” rating to an “equal weight” rating and boosted their price objective for the company from $148.00 to $193.00 in a research note on Tuesday, January 2nd. JPMorgan Chase & Co. boosted their price objective on American Express from $214.00 to $240.00 and gave the company an “overweight” rating in a research note on Wednesday, April 3rd. DZ Bank lowered American Express from a “hold” rating to a “sell” rating in a research note on Thursday, January 4th. Wells Fargo & Company boosted their price objective on American Express from $250.00 to $265.00 and gave the company an “overweight” rating in a research note on Wednesday. Finally, TD Cowen boosted their target price on American Express from $221.00 to $225.00 and gave the stock a “hold” rating in a research report on Monday. Four analysts have rated the stock with a sell rating, nine have given a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $209.52.

American Express Stock Performance

NYSE:AXP opened at $239.23 on Tuesday. The company has a debt-to-equity ratio of 1.70, a quick ratio of 1.63 and a current ratio of 1.62. American Express has a 52-week low of $140.91 and a 52-week high of $240.55. The firm has a market cap of $172.08 billion, a price-to-earnings ratio of 19.71, a PEG ratio of 1.33 and a beta of 1.23. The business’s fifty day moving average is $221.62 and its 200 day moving average 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, beating the consensus estimate 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 32.46% and a net margin of 14.50%. The business’s revenue was up 10.6% on a year-over-year basis. During the same period in the previous year, the company posted $2.40 earnings per share.

American Express Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 10th. Shareholders of record on Friday, April 5th will be given 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 is Thursday, April 4th. American Express’s payout ratio is 23.06%.

Insider Buying and Selling at American Express

In other American Express news, insider Laureen Seeger sold 84,420 shares of the company’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 transaction of $17,979,771.60. Following the completion of the transaction, the insider now owns 57,512 shares of the company’s stock, valued at approximately $12,248,905.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other American Express news, insider Laureen Seeger sold 84,420 shares of the company’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 transaction of $17,979,771.60. Following the completion of the transaction, the insider now owns 57,512 shares of the company’s stock, valued at approximately $12,248,905.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Stephen J. Squeri sold 69,356 shares of the company’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 value 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 disclosure for this sale can be found here. Insiders sold 172,047 shares of company stock valued at $36,528,388 in the last 90 days. Insiders own 0.11% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in AXP. Norges Bank bought a new position in shares of American Express in the 4th quarter worth approximately $1,112,747,000. Boston Partners bought a new position in shares of American Express in the 3rd quarter worth approximately $210,540,000. TD Asset Management Inc raised its position in shares of American Express by 62.1% in the 4th quarter. TD Asset Management Inc now owns 2,399,494 shares of the payment services company’s stock worth $449,521,000 after acquiring an additional 919,337 shares in the last quarter. International Assets Investment Management LLC raised its position in shares of 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 worth $1,440,210,000 after acquiring an additional 714,370 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of American Express by 21.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,839,276 shares of the payment services company’s stock worth $713,202,000 after acquiring an additional 667,695 shares in the last quarter. 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.