American Express (AXP, Financial) has reported impressive second-quarter financial results, highlighting continued strong performance. The company's revenue for Q2 reached a new high at $17.86 billion, slightly surpassing market expectations of $17.7 billion. Additionally, the total billed business for the quarter was $416.3 billion.
The company demonstrated significant growth with a year-over-year revenue increase of 9%, while adjusted earnings per share (EPS) surged by 17%. This exceptional performance underscores the ongoing positive momentum for American Express's business operations, according to its Chairman and CEO, Stephen Squeri.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 25 analysts, the average target price for American Express Co (AXP, Financial) is $311.86 with a high estimate of $371.00 and a low estimate of $240.00. The average target implies an downside of 1.11% from the current price of $315.35. More detailed estimate data can be found on the American Express Co (AXP) Forecast page.
Based on the consensus recommendation from 31 brokerage firms, American Express Co's (AXP, Financial) average brokerage recommendation is currently 2.6, indicating "Hold" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for American Express Co (AXP, Financial) in one year is $271.96, suggesting a downside of 13.76% from the current price of $315.35. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the American Express Co (AXP) Summary page.
