(Finance) – Excellent performance for American Expresswhich trades up 7.50%, after announcing positive forecasts and an increase in the dividend.
In the fourth quarter, the credit card group reported a Net income of 1.93 billion dollars, equal to 2.62 dollars per share, up from the 1.57 billion dollars (2.07 dollars per share) recorded in the previous year. THE revenues they grew 11% to $15.8 billion.
For 2024, American Express expects revenue growth of between 9% and 11% and with earnings per share expected between $12.65 and $13.15, above analysts’ expectations of $12.38 per share. Additionally, the company announced plans to increase its quarterly dividend by 17% to 70 cents per share.
Comparing the performance of the stock with the Dow Joneson a weekly basis, we notice that the famous credit card group maintains positive relative strength in comparison with the index, demonstrating a greater appreciation by investors compared to the index itself (weekly performance +12.45%, compared to +1.87% of theAmerican index).
The short-term implications of American Express they underline the evolution of the positive phase at the test of the USD 206.4 resistance area. A descent to the bottom 195.1 is possible. A strengthening of the curve is expected upon testing new targets of 217.6.