FY2023 EPS Estimates for American Express (NYSE:AXP) Decreased by Analyst

Posted by Defense World Staff on Oct 25th, 2023

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American Express (NYSE:AXP – Free Report) – Equities researchers at Seaport Res Ptn decreased their FY2023 earnings per share (EPS) estimates for American Express in a research note issued to investors on Monday, October 23rd. Seaport Res Ptn analyst W. Ryan now forecasts that the payment services company will earn $11.15 per share for the year, down from their previous forecast of $11.25. The consensus estimate for American Express’ current full-year earnings is $11.12 per share. Seaport Res Ptn also issued estimates for American Express’ FY2024 earnings at $12.95 EPS and FY2025 earnings at $15.00 EPS.

American Express (NYSE:AXP – Get Free Report) last posted its earnings results on Friday, October 20th. The payment services company reported $3.30 EPS for the quarter, beating the consensus estimate of $2.96 by $0.34. The firm had revenue of $15.38 billion for the quarter, compared to analyst estimates of $15.36 billion. American Express had a return on equity of 30.70% and a net margin of 13.61%. American Express’s revenue for the quarter was up 13.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.47 earnings per share.

AXP has been the subject of several other research reports. StockNews.com upgraded shares of American Express from a “hold” rating to a “buy” rating in a research note on Monday. Morgan Stanley decreased their price objective on shares of American Express from $185.00 to $175.00 and set an “overweight” rating for the company in a research note on Monday. Citigroup decreased their price objective on shares of American Express from $148.00 to $143.00 and set a “sell” rating for the company in a research note on Friday, October 6th. JPMorgan Chase & Co. decreased their price objective on shares of American Express from $192.00 to $167.00 and set a “neutral” rating for the company in a research note on Tuesday, October 17th. Finally, Piper Sandler Companies upgraded shares of American Express to a “neutral” rating and set a $151.00 price objective for the company in a research note on Tuesday. Four equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, American Express presently has an average rating of “Hold” and a consensus target price of $171.05.

View Our Latest Stock Analysis on American Express

American Express Stock Performance

NYSE:AXP opened at $144.46 on Tuesday. The firm has a market capitalization of $106.39 billion, a PE ratio of 13.55, a price-to-earnings-growth ratio of 0.90 and a beta of 1.19. The business’s fifty day moving average price is $154.70 and its 200 day moving average price is $160.96. The company has a debt-to-equity ratio of 1.70, a current ratio of 1.71 and a quick ratio of 1.59. American Express has a 12 month low of $138.77 and a 12 month high of $182.15.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. increased its holdings in American Express by 0.9% in the first quarter. BlackRock Inc. now owns 45,899,776 shares of the payment services company’s stock valued at $7,571,168,000 after buying an additional 423,300 shares in the last quarter. State Street Corp increased its stake in shares of American Express by 1.7% during the 2nd quarter. State Street Corp now owns 30,320,053 shares of the payment services company’s stock worth $5,281,753,000 after purchasing an additional 507,042 shares in the last quarter. Wellington Management Group LLP increased its stake in shares of American Express by 0.8% during the 1st quarter. Wellington Management Group LLP now owns 22,000,787 shares of the payment services company’s stock worth $3,629,030,000 after purchasing an additional 182,753 shares in the last quarter. Moneta Group Investment Advisors LLC increased its stake in shares of American Express by 118,198.3% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 13,732,068 shares of the payment services company’s stock worth $2,028,913,000 after purchasing an additional 13,720,460 shares in the last quarter. Finally, Bank Julius Baer & Co. Ltd Zurich increased its stake in shares of American Express by 87,430.5% during the 2nd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 12,697,168 shares of the payment services company’s stock worth $2,211,847,000 after purchasing an additional 12,682,662 shares in the last quarter. 83.08% of the stock is owned by hedge funds and other institutional investors.

American Express Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 10th. Investors of record on Friday, October 6th will be given a $0.60 dividend. The ex-dividend date of this dividend is Thursday, October 5th. This represents a $2.40 dividend on an annualized basis and a yield of 1.66%. American Express’s payout ratio is currently 22.51%.

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.