American Express stock has gained 23% YTD, outperforming S&P500, with strong financial performance.

From Nasdaq: 2024-06-30 13:40:39

American Express’ stock (NYSE: AXP) has gained 23% YTD, outperforming the S&P500 at 15%. Peer Capital One (NYSE: COF) rose only 5% YTD. AXP’s current stock price of $231 is slightly above its fair value of $228, according to Trefis’ valuation estimate.

AXP stock has seen strong gains of 90% since January 2021. It outperformed the S&P 500 in the last 3 years with returns of 35% in 2021, -10% in 2022, and 27% in 2023. The company’s top line in FY2023 grew 14% y-o-y to $60.5 billion, with net income up 12% to $8.25 billion.

In the first quarter of FY 2024, American Express surpassed street expectations with total revenues of $15.8 billion, up 11% y-o-y. Net income reached $2.4 billion, a 34% increase y-o-y. Provisions for credit losses rose by 20%, but were offset by lower noninterest expenses. FY2024 revenue estimate is $66.36 billion.

Returns as of June 2024 show AXP at -4% MTD, 23% YTD, and 211% over 2017-2024. Comparatively, the S&P 500 is at 4%, 15%, and 144%, respectively. The Trefis Reinforced Value Portfolio returned 2% in June, 6% YTD, and 656% since 2016.



Read more at Nasdaq: American Express Stock Is Up 23% YTD, What To Expect?