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Here's Why American Express (AXP) is a Strong Growth Stock

Zacks Equity Research
·2-min read

It doesn't matter your age or experience: taking full advantage of the stock market and investing with confidence are common goals for all investors.

While you may have an investing style you rely on, finding great stocks is made easier with the Zacks Style Scores. These are complementary indicators that rate stocks based on value, growth, and/or momentum characteristics.

Why This 1 Growth Stock Should Be On Your Watchlist

Growth investors build their portfolios around companies that are financially strong and have a bright future, and the Growth Style Score helps take projected and historical earnings, sales, and cash flow into account to uncover stocks that will see long-term, sustainable growth.

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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).

AXP sits at a Zacks Rank #3 (Hold), holds a Growth Style Score of B, and has a VGM Score of A. Earnings and sales are forecasted to increase 14.5% and 9.4% year-over-year, respectively.

Six analysts revised their earnings estimate upwards in the last 60 days for fiscal 2024. The Zacks Consensus Estimate has increased $0.21 to $12.83 per share. AXP boasts an average earnings surprise of 1.1%.

American Express is also cash rich. The company has generated cash flow growth of 5.4%, and is expected to report cash flow expansion of 9.7% in 2024.

Investors should take the time to consider AXP for their portfolios due to its solid Zacks Rank rating, notable growth metrics, and impressive Growth and VGM Style Scores.

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American Express Company (AXP) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research