Yahoo Finance American Express (AXP) Boasts Earnings & Price Momentum: Should You Buy?
Building an investment portfolio from scratch can be difficult, especially if you're new to investing. It's easy to feel overwhelmed with so many different investment options out there, but focusing on stocks that are set to outperform the market over the next 12 months is an excellent place to start.
Now, let's take a deep dive into a great stock that could be just the right addition to your portfolio.
Why You Should Pay Attention to American Express (AXP)
Founded in 1850, NY-based American Express Company is a diversified financial services company, offering charge and credit payment card products, and travel-related services worldwide. American Express and its main subsidiary – American Express Travel Related Services Company, Inc. (“TRS”) – are bank holding companies under the Bank Holding Company Act of 1956. The company offers business travel-related services through its non-consolidated joint venture, American Express Global Business Travel (the GBT JV).
On December 23, 2021, AXP was added to the Zacks Focus List at $162.47 per share. Shares have increased 43.1% to $232.50 since then.
For fiscal 2024, seven analysts revised their earnings estimate upwards in the last 60 days, and the Zacks Consensus Estimate has increased $0.07 to $12.89. AXP boasts an average earnings surprise of 6.4%.
Moreover, analysts are expecting American Express' earnings to grow 15% for the current fiscal year.
It can be very profitable to buy stocks with rising earnings estimates, as stock prices respond to revisions. By adding a Focus List stock like AXP, there's a great chance you'll be getting into a company whose future earnings estimates will be raised, which can lead to price momentum.
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American Express Company (AXP) : Free Stock Analysis Report
