American Express Company (AXP) has been gaining momentum in the market due to a plethora of positive signals. The company's receiving a lot of attention due to its
surpassing profit estimates with a strong focus on serving
small businesses. This is confirmed by reports of
American Express's strong earnings and
price momentum. The company recently announced the declaration of its
regular quarterly dividend which further cements its position. The premium card sector is seeing a rise in numbers as consumers are flocking towards pricey premium cards, boosting AmEx's revenue.
Strong 2024 guidance has propelled the
stock to record highs. Despite the fear of a recession that caused the stock to dip at one point, the blow was softened due to the company's
profit beats in Q1 earnings estimates, reaffirming its 2024 view.
Institutional ownership currently stands at 65% indicating that the big guns favor AXP. However, despite all these positive aspects, some caution should be observed as
insiders have sold US$19million worth of stock which may indicate possible weakness in the company. Furthermore, on certain occasions, the company's stock underperforms compared to its competitors as well as instances of its stock dipping more than the broader market. Investors are optimistic and the five-year
return stands at an impressive 124%. The stock remains
undervalued despite the surge and this adds to the appeal of American Express as a company worth investing in.
American Express Company AXP News Analytics from Wed, 11 Oct 2023 07:00:00 GMT to Tue, 07 May 2024 21:25:00 GMT -
Rating 7
- Innovation 5
- Information 8
- Rumor -3
