Amex Stock Trades Near $336 Amid Earnings Growth and Valuation Debate
American Express stock is trading near $336 in late August 2026 as investors balance strong Q2 earnings with full-year guidance and valuation models. The company reported second-quarter revenue of $19.64 billion and diluted EPS of $4.53, positioning American Express among the more profitable large-cap financials on a per-share basis.
Management has reiterated full-year 2026 EPS guidance in a range of $17.30 to $17.90, which implies continued year-on-year earnings expansion if delivered in full. The combination of robust revenue and earnings growth suggests a strong margin profile, particularly when compared with historical performance in earlier fiscal years.
Valuation work is underway, with the stock price around $336.00 as of August 24, 2026. The implied forward price-to-earnings multiple based on the midpoint of guidance near $17.60 stands at close to 19 times, a level that many observers see as demanding but still defensible for a brand with a long record of premium card fees and loyal customer cohorts.