3 Reasons for American Express Shareholders to Cheer
The American Express Company (NYSE: AXP) reported its 2017 second quarter earnings earlier this month and the results provided a lot for investors to be happy about. The company's adjusted revenue and billed business growth both increased by a healthy 8% year-over-year. Total loan growth grew an even more robust 11% over the prior year's quarter. And American Express is still the best in the lending business as evidenced by its 1.8% net write-off rate. While shares only mildly reacted to the news, that was probably mostly due to its run-up the previous quarter. As I write, shares are up almost 15% year-to-date and 9% since the start of June.
After reading through the company's conference call transcript provided by S&P Global, here are three more reasons shareholders in the longtime credit card company have to cheer the latest quarterly results.
Source: Fool.com
American Express Co. Stock
Currently there is a rather positive sentiment for American Express Co. with 23 Buy predictions and 8 Sell predictions.
With a current price of 214.4 € American Express Co. is right around the predicted target price of 215 €.
