MA - AmEx Stock: Hold Tight Before the Q2 Earnings Wave | Benzinga
American Express Company (NYSE: AXP) is set to report second-quarter 2024 results on Jul 19, 2024, before the opening bell. Growing network volumes, total cards-in-force and interest income are expected to have supported its performance.
The Zacks Consensus Estimate for second-quarter earnings is currently pegged at $3.22 per share, implying solid growth of 11.4% from the year-ago reported number. The estimate was revised upward by two analysts in the past week against no movement in the opposite direction, resulting in an increase of a penny from $3.21 per share. The Zacks Consensus Estimate for second-quarter revenues is currently pegged at almost $16.6 billion, suggesting a 10.1% uptick from the year-ago actuals.
Image Source: Zacks Investment Research
American Express beat the consensus estimate for earnings in three of the trailing four quarters and missed once, with the average surprise being 6.4%. This is depicted in the graph below:
American Express Company Price and EPS Surprise
American Express Company price-eps-surprise | American Express Company Quote
Q2 Earnings Whispers
Our proven model does not conclusively predict an earnings beat for AmEx this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat. That is not the case here.
The company has an Earnings ESP of -0.71%. This is because the Most Accurate Estimate currently stands at $3.20 per share, lower than the Zacks Consensus Estimate of $3.22. AmEx currently carries a Zacks Rank #3.
Factors Shaping Q2 Results
American Express is expected to have seen a rise in network volumes during the second quarter, continuing a trend seen in recent quarters. This uptick is likely attributable to ...