Jim Cramer on American Express: "This Has One of the Most Reliably Unreliable Patterns"

American Express Company (NYSE:AXP) is one of the stocks in Jim Cramer’s game plan for this week. Cramer said that after earnings, the stock usually declines, which presents a buying opportunity. He commented:

“Finally, Friday, well, we hear from American Express. This has one of the most reliably unreliable patterns. Amex has a tendency to decline right after it reports. Then you have to pounce because a week later, it turns out to be going much higher, and you’ve lost your chance. I don’t think it will be any different this time.”

American Express Company (NYSE:AXP) provides payment, financing, and expense management solutions through its credit and charge cards, banking, and merchant services. It also offers travel, lifestyle, and loyalty programs, fraud prevention tools, and airport lounges. During the September 22 episode, Cramer mentioned the company and remarked:

“Then there’s American Express, which just released a refreshed platinum card, you might have gotten it this weekend, that I’m sure will be a hit, especially with millennials and Gen Z. AMEX should have 12.6% earnings growth next year, just barely better than the market. And don’t be surprised if the actual earnings growth surprises to the upside. At the same time, it’s selling for less than 20 times next year’s numbers. That’s a bit cheaper than the overall S&P.”

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Disclosure: None. This article is originally published at Insider Monkey.