American Express also added 3.3 million new cards and about $4.4 billion of loan balances in the quarter, with loan balances now up 31% year over year. Net interest income from its loans jumped 9% in the quarter, as the bank benefited from the higher interest rate environment. According to 32 analysts, the average rating for AXP stock is "Buy." The 12-month stock price forecast is 177.74, which is an increase of 26.92% from the latest price. Zacks Earnings ESP looks to find companies American Express Company stock price today that have recently seen positive earnings estimate revision activity. The idea is that more recent information is, generally speaking, more accurate and can be a better predictor of the future, which can give investors an advantage in earnings season. You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security.
- There may be delays, omissions, or inaccuracies in the Information.
- These Morningstar Medalists have a significant portion of their assets tucked in wide-moat stocks.
- The consolidated effective tax rate was 23.6 percent, down from 25.5 percent a year ago, primarily reflecting changes in the geographic mix of pretax income.
- American Express Co on Friday forecast its full-year profit to be higher than initially expected, but built bigger provisions to prepare for potential defaults as an economic downturn looms, sending its…
- American Express continues to guide for revenue growth in the full year to be 23% to 25% higher than 2021 and for EPS to be above its initial guidance of $9.25 to $9.65.
The American Express 52-week low stock price is 130.65, which is 6.7% below the current share price. The American Express Company stock American Express 52-week high stock price is 199.55, which is 42.5% above the current share price.
ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating indiv idual securities. The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 10th. Investors of record on Friday, October 14th will be issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.46%. In Q3, total network volumes increased 19% Y/Y to $394.4B in Q3, but eased off of the $395B level in Q2. Operating expenses represent salaries and employee benefits, professional services, data processing and equipment, and other, net. Based on the company’s performance to date, it continues to expect full-year revenue growth of 23% to 25% and now expects to be above its original full-year EPS guidance range of $9.25 to $9.65.
It is this reason that could see investor optimism for the AXP stock continues to rise going into the next quarter. We sell different types of products and services DotBig to both investment professionals and individual investors. These products and services are usually sold through license agreements or subscriptions.
American Express CEO: Consumers are still spending
Zacks Ranks stocks can, and often do, change throughout the month. Certain Zacks Rank stocks for which no month-end price was available, pricing information was not collected, or for certain other reasons have been excluded from these return American Express Company stock calculations. Total expenses were $4.5 billion, up 20 percent from $3.8 billion a year ago, primarily reflecting higher customer engagement costs, which were driven by higher billed business and increased usage of travel-related benefits.
In 2021, AXP’s revenue was $43.80 billion, an increase of 39.68% compared to the previous year’s $31.36 billion. To opt-in for investor email alerts, please enter your email address in the field below and select at least one alert option. After submitting your request, you will receive an activation email to the requested email address. You must click the activation link in order to complete your subscription. Start from scratch by sharing your brand materials or American Express Company stock concept with us, get inspired and shop our curated selections, or shop our core offerings and personalize with labels, screenprinting or embroidery. "Stock has a sense of relevancy in their clothes. They feel uncommercial and flattering. And the attention you get from Stock is equally personal." An industry with a larger percentage of Zacks Rank #1’s and #2’s will have a better average Zacks Rank than one with a larger percentage of Zacks Rank #4’s and #5’s.
Based on the company’s results to date, AXP has increased its guidance for 2022 EPS to above its original guidance rage of $9.25-$9.65. That could still be a disappointment to investors as the consensus estimate is $9.84. Card Member spending represents transaction volumes, including cash advances, on payment products issued by American Express. Provisions https://dotbig.com/markets/stocks/AXP/ for credit losses were $176 million, compared with a benefit of $6 million a year ago. The change reflected a reserve build of $77 million, compared with a $69 million reserve release a year ago, as well as higher net write-offs in the current quarter. Provisions for credit losses were $196 million, compared with a benefit of $67 million a year ago.
Dow rallies 325 points on gains for shares of Salesforce, American Express
As we incorporate these results, we do not plan to materially alter our $166 fair value estimate. https://dotbig.com/ Consolidated expenses were $10.3 billion, up 19 percent from $8.7 billion a year ago.
Is It Time to Sell AXP? Shares are down today.
SectorIndustryMarket CapRevenue FinanceFinance – Miscellaneous Services$104.995B$42.380B American Express Company is a diversified financial services company, offering charge and credit payment card products, and travel-related services world wide. American Express and its main subsidiary, American Express Travel Related Services Company, Inc., DotBig are bank holding companies. The company offers business travel-related services through its non-consolidated joint venture, American Express Global Business Travel. Large investors have recently modified their holdings of the company. Renaissance Technologies LLC increased its stake in American Express by 5,063.5% in the 2nd quarter.
American Express and Bank of America said U.S. consumers have demonstrated a willingness to continue to pay higher prices. American Express benefits from better volumes and higher Card Member spending due to a significant increase in Travel and Entertainment spending. Yahoo Finance Live anchors Seana Smith, Jared Blikre and Dave Briggs look at American Express shares following its latest earnings beat. Consumers are still spending, American Express CEO Stephen Squeri said, despite the fact that inflation remains high and interest rates continue to rise.
American Express earnings beat expectations, company reaffirms full-year revenue forecast
Some Fed officials have begun sounding out their desire to slow down the pace of increases soon, according to a Wall Street Journal report, and how to signal plans to approve a smaller increase in December. Revisions could be used as tool to get short term price movement insight, and for the company that in the past seven days was 6 upward and no downward review. Turning to the stock’s technical picture we see that short term indicators suggest on average that AXP is a 100% Sell. On the other hand, the DotBig stock is on average a 100% Sell as suggested by medium term indicators while long term indicators are putting the stock in 100% Sell category. Total revenues net of interest expense were $1.7 billion, up 26 percent from $1.3 billion a year ago, primarily reflecting an increase in network volumes. StockInvest.us is a research service that provides financial data and technical analysis of publicly traded stocks. All users should speak with their financial advisor before buying or selling any securities.