American Express

American Express (AXP) maintaining its 2024 guidance backs the belief that mid-teens earnings per share growth is achievable and sustainable amid a slower revenue environment, RBC said in a note. Analysts, including Jon G. Arfstrom, said in a Friday note that the company’s management continues to be confident about its long-term growth trajectory and ability to sustain the current spending momentum, particularly domestically. “Over the medium to long term, we believe the company has significant opportunities to build upon its leading market share in the small business and corporate card space with its targeted investments in technology and its digital platform. We also see opportunities for the company to increase penetration over time in international markets,” the analysts said. The analysts added that they are adjusting their 2024 EPS estimate from $12.80 to $13.10 and 2025 EPS from $15 to $15.15. American Express said in its Q1 earnings report that […]

CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: We increase our 12-month target price by $20 to $290, applying a forward P/E of 19.5x our 2025 earnings estimate, a wider risk premium than the peer average of 8.1x given more consistent earnings performance, lower credit risk, and superior growth prospects. We raise our 2024 EPS estimate by $0.31 to $13.29 and increase 2025’s by $0.51 to $14.91. AXP reported Q1 EPS of $3.33 vs. $2.40 a year ago, a $0.35 earnings beat. It was another strong quarter for AXP as net write-offs of 2.1% were best in-class. Additionally, AXP’s product refreshments appear to be paying off as it acquired 3.4 million cards in the quarter vs. 2.9 million in Q4. Furthermore, after several straight quarters of decelerating growth, we were encouraged with discount revenue growth

American Express’ (AXP) first-quarter results increased on a yearly basis and topped market estimates, while the payments company reiterated its full-year outlook for earnings and revenue growth. Per-share earnings came in at $3.33 for the three months through March 31, rising from $2.40 the year before and ahead of the consensus on Capital IQ for $2.96. Revenue, net of interest expense, climbed 11% to $15.8 billion, driven by higher net interest income and increased card member spending. The Street’s view was for $15.79 billion. Shares of the company were up 3.4% in Friday trading. US consumer services revenue advanced 14% to $7.5 billion while international card services increased 8% to $2.71 billion. Commercial services grew 8% to $3.79 billion, while global merchant and network services gained 7% to $1.87 billion. “Bill business grew 7% versus last year in the first quarter on a (foreign-exchange)-adjusted basis, in line with the overall

The following is a summary of the American Express Company (AXP) Q1 2024 Earnings Call Transcript: Financial Performance: American Express Q1 revenues reached $15.8 billion, an 11% YoY increase, with EPS jumping by 39% to $3.33. The growth in revenue was primarily due to overall spending increase of 7%, with U.S. consumer card spending up 8%. Net interest income also experienced a 26% annual increase. The company’s fee revenues showed a robust growth, up 16% on an FX-adjusted basis while they also acquired 3.4 million new cards in Q1, the majority being fee-based products. American Express has maintained its full year guidance for 2024, with revenue growth projected at 9% to 11% and EPS between $12.65 and $13.15. Business Progress: Over 60% of new consumer account acquisitions globally were Millennial and Gen Z consumers. However, the SME billed business growth remained relatively flat. American express continues to innovate in the

American Express Global Business Travel Reports Strong Fourth Quarter and Full-Year 2023 Financial Results; Introduces 2024 Outlook NEW YORK–(BUSINESS WIRE)–March 05, 2024– American Express Global Business Travel, which is operated by Global Business Travel Group, Inc. (NYSE: GBTG) (“Amex GBT” or the “Company”), a leading B2B software and services company for travel and expense, today announced financial results for the fourth quarter and full year ended December 31, 2023. Fourth Quarter and Full-Year 2023 Highlights — Outstanding financial performance. Strong full-year performance above initial guidance with 24% revenue growth and 269% Adjusted EBITDA growth to $380 million. In Q4 2023, delivered $549 million of revenue and $80 million of Adjusted EBITDA, growing 83% or $37 million year-over-year. — Continued share gains. Total New Wins Value of $3.5 billion, including $2.2 billion in SME, and 96% customer retention rate for the full year. — Operating leverage. 24% revenue growth versus single-digit

American Express says small businesses are showing signs of moderation as consumer spending remains strong. CFO Christophe Le Caillec says at the UBS Financial Services Forum that tenured small-business customers have been spending less, which is dampening the company’s growth rates. Still, consumers are “doing what they do best, which is to consume,” Le Caillec says. He notes strong demand for new cards from consumers and strong spending growth, with the caveat that American Express’s customers may not be representative of the entire U.S. economy. Shares rise 0.9% to $216.52.

Oppenheimer analyst Dominick Gabriele maintains American Express (NYSE:AXP) with a Outperform and raises the price target from $208 to $219.

American Express (NYSE:AXP) Stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 01/29/2024 9.32% Barclays $216 → $220 Maintains Overweight 01/10/2024 16.77% Deutsche Bank → $235 Initiates Coverage On → Buy 01/10/2024 — BMO Capital Downgrades Market Perform → Underperform 01/08/2024 -5.59% Baird → $190 Downgrades Neutral → Underperform 01/04/2024 1.86% JP Morgan $167 → $205 Upgrades Neutral → Overweight 01/02/2024 -4.1% Stephens & Co. → $193 Upgrades Underweight → Equal-Weight 12/20/2023 — Monness, Crespi, Hardt Initiates Coverage On → Neutral 12/18/2023 1.86% Goldman Sachs $186 → $205 Maintains Buy 11/15/2023 -8.57% Barclays → $184 Initiates Coverage On → Overweight 11/01/2023 -21.49% TD Cowen → $158 Initiates Coverage On → Market Perform 10/25/2023 -23.48% Citigroup $143 → $154 Upgrades Sell → Neutral 10/24/2023 -24.97% Piper Sandler → $151 Upgrades Underweight → Neutral 10/23/2023 -8.07% RBC Capital $190 → $185 Maintains Outperform 10/23/2023 -6.58%

Barclays analyst Mark Devries maintains American Express (NYSE:AXP) with a Overweight and raises the price target from $216 to $220.

RBC Lifts Price Target on American Express to $226 From $220, Notes ‘Core Trends Remain Strong,’ Keeps Outperform Rating。

American Express Announces Record Full-Year 2023 Revenue of $60.5 Billion, Up 14% on a Reported Basis and 15% on an FX-Adjusted Basis Full-Year Earnings Per Share Increased 14% to $11.21 Full-Year 2024 Guidance for Revenue Growth of 9% to 11% and EPS of $12.65 to $13.15 Company Plans to Increase Quarterly Dividend by 17% to $0.70 Per Common Share NEW YORK–(BUSINESS WIRE)–January 26, 2024– American Express Company (NYSE: AXP): ($ in millions, except per share amounts, and where indicated) Quarters Ended Percentage Years Ended Percentage December 31, Inc/(Dec) December 31, Inc/(Dec) —————- ———- —————— ———– 2023 2022 2023 2022 ————— ——- ——- ———- ——– ——– ———– Billed Business (Billions) $379.8 $357.4 6% $1,459.6 $1,338.3 9% ————— ——- ——- ———- ——– ——– ———– Total Revenues Net of Interest Expense $15,799 $14,176 11% $60,515 $52,862 14% FX-adjusted(1) $14,225 11% $52,833 15% ————— ——- ——- ———- ——– ——– ———– Total Provisions for Credit

American Express Sees FY24 EPS $12.65-$13.15 Vs $12.41 Est., Revenue Growth 9-11%.