American Express Forecasted to Earn FY2022 Earnings of $9.71 Per Share (NYSE:AXP)

American Express (NYSE:AXPGet Rating) – Investment analysts at William Blair lifted their FY2022 earnings per share estimates for American Express in a research note issued on Friday, September 16th. William Blair analyst R. Napoli now expects that the payment services company will earn $9.71 per share for the year, up from their prior estimate of $9.64. The consensus estimate for American Express’ current full-year earnings is $9.88 per share. William Blair also issued estimates for American Express’ FY2023 earnings at $11.23 EPS and FY2024 earnings at $12.90 EPS.

A number of other equities research analysts have also recently commented on the company. Piper Sandler cut their target price on American Express from $202.00 to $163.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 6th. Robert W. Baird raised shares of American Express from a “neutral” rating to an “outperform” rating and set a $175.00 target price for the company in a report on Friday, June 17th. Keefe, Bruyette & Woods cut their price target on shares of American Express from $220.00 to $201.00 in a report on Monday, July 11th. Morgan Stanley upped their price objective on American Express from $143.00 to $155.00 and gave the company an “equal weight” rating in a research report on Monday, July 25th. Finally, Wells Fargo & Company reduced their target price on American Express from $215.00 to $190.00 and set an “overweight” rating for the company in a report on Wednesday, July 13th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, American Express presently has an average rating of “Hold” and an average target price of $181.53.

American Express Stock Performance

American Express stock opened at $153.08 on Monday. The stock’s 50 day moving average is $154.14 and its 200 day moving average is $162.68. The company has a market capitalization of $114.77 billion, a P/E ratio of 15.70, a PEG ratio of 1.19 and a beta of 1.14. American Express has a twelve month low of $134.12 and a twelve month high of $199.55. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 1.74.

American Express (NYSE:AXPGet Rating) last issued its quarterly earnings results on Friday, July 22nd. The payment services company reported $2.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.41 by $0.16. American Express had a net margin of 15.69% and a return on equity of 32.81%. The company had revenue of $13.40 billion during the quarter, compared to analysts’ expectations of $12.54 billion. During the same period last year, the company posted $2.80 EPS. American Express’s revenue was up 30.8% on a year-over-year basis.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. SBK Financial Inc. bought a new position in shares of American Express in the fourth quarter worth about $25,000. Tyler Stone Wealth Management bought a new position in American Express in the 4th quarter worth $25,000. Blue Bell Private Wealth Management LLC raised its holdings in American Express by 873.3% during the first quarter. Blue Bell Private Wealth Management LLC now owns 146 shares of the payment services company’s stock valued at $27,000 after acquiring an additional 131 shares during the period. Perkins Coie Trust Co purchased a new position in shares of American Express in the first quarter valued at about $28,000. Finally, Rise Advisors LLC boosted its stake in shares of American Express by 823.5% in the first quarter. Rise Advisors LLC now owns 157 shares of the payment services company’s stock worth $29,000 after acquiring an additional 140 shares during the period. Hedge funds and other institutional investors own 84.10% of the company’s stock.

About American Express

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American Express Company, together with its subsidiaries, provides charge and credit payment card products, and travel-related services worldwide. The company operates through three segments: Global Consumer Services Group, Global Commercial Services, and Global Merchant and Network Services. Its products and services include payment and financing products; network services; accounts payable expense management products and services; and travel and lifestyle services.

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Earnings History and Estimates for American Express (NYSE:AXP)

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