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

American Express (NYSE:AXP) – Seaport Res Ptn decreased their Q2 2024 earnings per share (EPS) estimates for shares of American Express in a research report issued to clients and investors on Monday, April 22nd. Seaport Res Ptn analyst W. Ryan now anticipates that the payment services company will earn $3.21 per share for the quarter, down from their prior forecast of $3.27. The consensus estimate for American Express’ current full-year earnings is $12.92 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.

Several other research analysts have also recently commented on AXP. Barclays reissued an “equal weight” rating and set a $221.00 price target (up from $220.00) on shares of American Express in a research report on Tuesday, April 9th. Oppenheimer reissued an “outperform” rating on shares of American Express in a research note on Friday, April 5th. DZ Bank downgraded shares of American Express from a “hold” rating to a “sell” rating in a report on Thursday, January 4th. Wells Fargo & Company increased their price target on shares of American Express from $220.00 to $250.00 and gave the company an “overweight” rating in a research note on Wednesday, April 10th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of American Express from $214.00 to $240.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 3rd. Four analysts have rated the stock with a sell rating, nine have issued a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, American Express presently has a consensus rating of “Hold” and an average target price of $208.24.

American Express Price Performance

Shares of NYSE AXP opened at $232.88 on Tuesday. The company has a debt-to-equity ratio of 1.69, a current ratio of 1.73 and a quick ratio of 1.63. The business has a 50-day moving average of $220.47 and a 200-day moving average of $189.56. The stock has a market capitalization of $168.57 billion, a price-to-earnings ratio of 19.18, a PEG ratio of 1.32 and a beta of 1.23. American Express has a fifty-two week low of $140.91 and a fifty-two week high of $235.37.

American Express (NYSE:AXP) last announced its earnings results on Friday, April 19th. The payment services company reported $3.33 EPS for the quarter, topping the consensus estimate of $2.97 by $0.36. American Express had a net margin of 14.50% and a return on equity of 32.39%. The business had revenue of $15.80 billion during the quarter, compared to analysts’ expectations of $15.79 billion. During the same quarter in the prior year, the company posted $2.40 earnings per share. The firm’s revenue was up 10.6% on a year-over-year basis.

American Express Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 10th. Investors of record on Friday, April 5th will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.17%. The ex-dividend date of this dividend is Thursday, April 4th. American Express’s dividend payout ratio (DPR) is currently 23.06%.

Insider Buying and Selling

In other news, insider Howard Grosfield sold 7,029 shares of the stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $203.65, for a total transaction of $1,431,455.85. Following the sale, the insider now directly owns 12,388 shares of the company’s stock, valued at approximately $2,522,816.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other American Express news, insider Laureen Seeger sold 84,420 shares of the company’s stock in a transaction 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 sale, the insider now directly owns 57,512 shares in the company, valued at $12,248,905.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Howard Grosfield sold 7,029 shares of the stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $203.65, for a total transaction of $1,431,455.85. Following the completion of the transaction, the insider now directly owns 12,388 shares of the company’s stock, valued at approximately $2,522,816.20. The disclosure for this sale can be found here. Insiders have sold 172,047 shares of company stock valued at $36,528,388 over the last 90 days. 0.11% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On American Express

Several institutional investors and hedge funds have recently added to or reduced their stakes in AXP. Park Place Capital Corp grew its position in American Express by 382.6% during the 3rd quarter. Park Place Capital Corp now owns 333 shares of the payment services company’s stock worth $50,000 after acquiring an additional 264 shares during the last quarter. Lawson Kroeker Investment Management Inc. NE increased its stake in shares of American Express by 3.2% in the third quarter. Lawson Kroeker Investment Management Inc. NE now owns 5,274 shares of the payment services company’s stock valued at $787,000 after buying an additional 165 shares during the period. Perennial Advisors LLC raised its holdings in American Express by 1.1% in the 3rd quarter. Perennial Advisors LLC now owns 51,270 shares of the payment services company’s stock valued at $7,649,000 after buying an additional 562 shares during the last quarter. Newbridge Financial Services Group Inc. boosted its position in American Express by 7.0% during the 3rd quarter. Newbridge Financial Services Group Inc. now owns 1,140 shares of the payment services company’s stock worth $170,000 after buying an additional 75 shares during the period. Finally, GHP Investment Advisors Inc. raised its stake in shares of American Express by 1.2% during the third quarter. GHP Investment Advisors Inc. now owns 58,738 shares of the payment services company’s stock valued at $8,875,000 after acquiring an additional 689 shares during the last quarter. 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.