Seaport Res Ptn Equities Analysts Reduce Earnings Estimates for American Express (NYSE:AXP)

American Express (NYSE:AXP - Free Report) - Analysts at Seaport Res Ptn reduced their Q2 2024 earnings per share estimates for American Express in a report released on Monday, April 22nd. Seaport Res Ptn analyst W. Ryan now anticipates that the payment services company will post earnings of $3.21 per share for the quarter, down from their prior estimate 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.

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

Other equities research analysts also recently issued research reports about the company. JPMorgan Chase & Co. upped their price target on American Express from $214.00 to $240.00 and gave the stock an "overweight" rating in a report on Wednesday, April 3rd. Robert W. Baird downgraded American Express from a "neutral" rating to an "underperform" rating and set a $190.00 price target on the stock. in a report on Monday, January 8th. Deutsche Bank Aktiengesellschaft upped their price target on American Express from $240.00 to $260.00 and gave the stock a "buy" rating in a report on Monday. Morgan Stanley upped their price objective on American Express from $222.00 to $226.00 and gave the stock an "equal weight" rating in a research report on Monday. Finally, Barclays reaffirmed an "equal weight" rating and set a $221.00 price objective (up from $220.00) on shares of American Express in a research report on Tuesday, April 9th. Four investment analysts have rated the stock with a sell rating, nine have given a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average price target of $208.24.

American Express Trading Up 2.5 %

NYSE:AXP traded up $5.88 on Tuesday, reaching $238.88. The company's stock had a trading volume of 4,684,299 shares, compared to its average volume of 3,180,570. American Express has a 12-month low of $140.91 and a 12-month high of $239.42. The company has a quick ratio of 1.63, a current ratio of 1.73 and a debt-to-equity ratio of 1.69. The firm has a market cap of $172.92 billion, a price-to-earnings ratio of 19.59, a price-to-earnings-growth ratio of 1.32 and a beta of 1.23. The stock has a 50 day moving average price of $220.47 and a 200 day moving average price of $189.56.

Hedge Funds Weigh In On American Express

Large investors have recently modified their holdings of the business. Scarborough Advisors LLC purchased a new position in shares of American Express during the 4th quarter worth approximately $25,000. BKM Wealth Management LLC purchased a new position in shares of American Express during the 4th quarter worth approximately $28,000. Tennessee Valley Asset Management Partners purchased a new position in American Express in the 4th quarter valued at approximately $28,000. BluePath Capital Management LLC purchased a new position in American Express in the 3rd quarter valued at approximately $29,000. Finally, Pacifica Partners Inc. purchased a new position in American Express in the 4th quarter valued at approximately $29,000. 84.33% of the stock is owned by hedge funds and other institutional investors.

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 sale, the insider now directly owns 57,512 shares of the company's stock, valued at approximately $12,248,905.76. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, insider Howard Grosfield sold 7,029 shares of the stock in a transaction that occurred 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 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 sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Laureen Seeger sold 84,420 shares of the stock in a transaction that occurred on 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 directly owns 57,512 shares of the company's stock, valued at $12,248,905.76. The disclosure for this sale can be found here. Insiders sold a total of 172,047 shares of company stock valued at $36,528,388 in the last ninety days. Insiders own 0.11% of the company's stock.

American Express Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 10th. Shareholders of record on Friday, April 5th will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.17%. The ex-dividend date is Thursday, April 4th. American Express's dividend payout ratio is presently 23.06%.

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.