American Express (NYSE:AXP) Issues Quarterly Earnings Results

American Express (NYSE:AXP) issued its quarterly earnings results on Friday. The payment services company reported $3.33 EPS for the quarter, topping the consensus estimate of $2.97 by $0.36, Briefing.com reports. The company had revenue of $15.80 billion for the quarter, compared to the consensus estimate of $15.79 billion. American Express had a return on equity of 30.99% and a net margin of 13.84%. The company’s revenue for the quarter was up 10.6% on a year-over-year basis. During the same period in the previous year, the business posted $2.40 EPS. American Express updated its FY 2024 guidance to 12.650-13.150 EPS and its FY24 guidance to $12.65-$13.15 EPS.

American Express Stock Performance

American Express stock opened at $231.04 on Monday. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 1.71. American Express has a 1 year low of $140.91 and a 1 year high of $231.69. The company has a market cap of $167.24 billion, a PE ratio of 19.03, a PEG ratio of 1.33 and a beta of 1.23. The company’s 50-day moving average is $220.06 and its two-hundred day moving average is $188.95.

American Express Cuts Dividend

The firm also recently announced 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. The ex-dividend date is Thursday, April 4th. This represents a $0.40 dividend on an annualized basis and a yield of 0.17%. American Express’s payout ratio is presently 23.06%.

Analysts Set New Price Targets

Several research analysts have commented on AXP shares. HSBC lifted their price target on American Express from $232.00 to $239.00 and gave the stock a “buy” rating in a research report on Thursday, April 11th. 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 report on Wednesday, April 3rd. StockNews.com cut American Express from a “buy” rating to a “hold” rating in a research report on Monday, April 15th. Deutsche Bank Aktiengesellschaft started coverage on American Express in a research report on Wednesday, January 10th. They set a “buy” rating and a $235.00 price objective on the stock. Finally, 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 report on Tuesday, January 2nd. Four equities research analysts have rated the stock with a sell rating, ten have given a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $201.62.

Insider Buying and Selling at American Express

In other American Express news, CEO Stephen J. Squeri sold 69,356 shares of the stock in a transaction dated Monday, February 12th. The stock was 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 owns 122,158 shares of the company’s stock, valued at $26,022,097.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other American Express news, CEO Stephen J. Squeri sold 69,356 shares of the firm’s stock in a transaction dated 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 owns 122,158 shares in the company, valued at $26,022,097.16. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Laureen Seeger sold 84,420 shares of the firm’s stock in a transaction dated 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 owns 57,512 shares in the company, valued at approximately $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 worth $36,528,388. Company insiders own 0.12% of the company’s stock.

Hedge Funds Weigh In On American Express

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. RB Capital Management LLC raised its position in shares of American Express by 5.3% during the first quarter. RB Capital Management LLC now owns 3,783 shares of the payment services company’s stock worth $707,000 after purchasing an additional 190 shares during the period. Roundview Capital LLC raised its position in shares of American Express by 0.4% during the first quarter. Roundview Capital LLC now owns 27,029 shares of the payment services company’s stock worth $5,054,000 after purchasing an additional 105 shares during the period. Zions Bancorporation N.A. raised its position in shares of American Express by 5.6% during the first quarter. Zions Bancorporation N.A. now owns 1,421 shares of the payment services company’s stock worth $266,000 after purchasing an additional 75 shares during the period. Covestor Ltd raised its position in shares of American Express by 207.1% during the first quarter. Covestor Ltd now owns 946 shares of the payment services company’s stock worth $177,000 after purchasing an additional 638 shares during the period. Finally, Donaldson Capital Management LLC acquired a new stake in shares of American Express during the first quarter worth about $397,000. Institutional investors own 84.33% of the company’s stock.

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.