American Express Company Q4 Earnings Report and Analyst Ratings Overview
By Emily Turner
Published January 26, 2024
American Express Company (AXP) is set to announce its earnings for the fourth quarter on January 26, 2024, before the market opens. This article will provide an overview of the expected earnings results and analyst ratings for the company.
Expected Earnings and Revenue
Analysts anticipate American Express to report quarterly earnings of $2.64 per share, representing an increase from the previous year's earnings of $2.07 per share. Revenue is projected to be $16 billion, compared to $14.18 billion in the year-ago quarter.
Recent Performance
In the third quarter, American Express reported a 12% year-on-year growth in revenue (net of interest expense) to $15.38 billion, surpassing the consensus estimate. The earnings per share of $3.30 also exceeded the consensus of $2.94. Following this performance, American Express shares rose by 1.2% to close at $188.07.
Analyst Ratings Overview
Benzinga Pro provides insights into the recent analyst ratings for American Express. Notable rating actions include Baird analyst David George downgrading the stock from Neutral to Underperform, JP Morgan analyst Richard Shane upgrading the stock from Neutral to Overweight, Citigroup analyst Arren Cyganovich upgrading the stock from Sell to Neutral, and Piper Sandler analyst Kevin Barker upgrading the stock from Underweight to Neutral. RBC Capital analyst Jon Arfstrom maintained an Outperform rating.
Recent Analyst Rating Changes
On January 8, 2024, Baird analyst David George downgraded American Express from Neutral to Underperform with a price target of $190. JP Morgan analyst Richard Shane upgraded the stock from Neutral to Overweight on January 4, 2024, while Citigroup analyst Arren Cyganovich raised the price target from $143 to $154 on October 25, 2023. Additionally, Piper Sandler analyst Kevin Barker increased the price target from $150 to $151 on October 24, 2023, and RBC Capital analyst Jon Arfstrom maintained an Outperform rating while adjusting the price target.
Conclusion
The upcoming earnings release for American Express Company will be closely watched by investors and analysts. The recent analyst rating changes reflect varying perspectives on the company's performance and future outlook. Stay tuned for the latest developments following the earnings announcement.
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