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American Express Company AXP was a big mover last session, as the company saw its shares rise more than 7% on the day. The move came on solid volume too with far more shares changing hands than in a normal session. This breaks the recent trend of the company, as the stock is now trading above the volatile price range of $90.45 to $95.15 in the past one-month time frame.
The move came after the company reported solid first-quarter 2018 results driven by growth in card billed business, higher Card Member spending and a lower tax rate.
The company has seen a mixed track record when it comes to estimate revisions of one increase and three decreases over the past month, while the Zacks Consensus Estimate moved lower in the said time period, suggesting there may be trouble down the road. So make sure to keep an eye on this stock going forward, to see if this recent move higher can last.
American Express currently has a Zacks Rank #3 (Hold), while its Earnings ESP is negative.
American Express Company Price
American Express Company Price | American Express Company Quote
A better-ranked stock in the Financial Transaction Services industry is Oaktree Specialty Lending Corp. OCSL, which currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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