AXP - American Express Stock Still Looks Attractive Despite Soaring 29% This Year
2024-05-13 07:21:00 ET
Market valuation multiples are elevated. The S&P 500 and Nasdaq 100 are currently trading at price-to-earnings ratios of about 23.2 and 29.5, respectively. That's up from approximately the S&P 500 's multiple of approximately 18.4 and the Nasdaq 100's of 26.0 at this time last year. While this multiple expansion has fueled a rewarding run-up in stocks for investors, it's left them with fewer good options for new capital.
But a close look reveals that, even in this market, there are still some investment ideas likely to do quite well over the long term from here. One attractive stock that also has a fast-growing dividend worth considering today is integrated payments company American Express (NYSE: AXP) . Shares still trade at a reasonably priced valuation, and the company's dividend is growing at a double-digit rate in the high teens.
There's a lot to like about American Express stock, starting with its growth profile.
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American Express Stock Still Looks Attractive Despite Soaring 29% This Year