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Goldman Sachs (GS) Gains But Lags Market: What You Should Know
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Goldman Sachs (GS - Free Report) closed the most recent trading day at $348.08, moving +1.26% from the previous trading session. This move lagged the S&P 500's daily gain of 2.28%. At the same time, the Dow added 2.13%, and the tech-heavy Nasdaq gained 5.02%.
Coming into today, shares of the investment bank had lost 4% in the past month. In that same time, the Finance sector lost 1.02%, while the S&P 500 lost 4.61%.
Goldman Sachs will be looking to display strength as it nears its next earnings release. On that day, Goldman Sachs is projected to report earnings of $6.44 per share, which would represent a year-over-year decline of 40.43%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $11.18 billion, down 11.58% from the year-ago period.
Investors should also note any recent changes to analyst estimates for Goldman Sachs. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 1.75% lower. Goldman Sachs is currently sporting a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Goldman Sachs has a Forward P/E ratio of 9.22 right now. This valuation marks a discount compared to its industry's average Forward P/E of 11.77.
The Financial - Investment Bank industry is part of the Finance sector. This group has a Zacks Industry Rank of 89, putting it in the top 36% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow GS in the coming trading sessions, be sure to utilize Zacks.com.
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Goldman Sachs (GS) Gains But Lags Market: What You Should Know
Goldman Sachs (GS - Free Report) closed the most recent trading day at $348.08, moving +1.26% from the previous trading session. This move lagged the S&P 500's daily gain of 2.28%. At the same time, the Dow added 2.13%, and the tech-heavy Nasdaq gained 5.02%.
Coming into today, shares of the investment bank had lost 4% in the past month. In that same time, the Finance sector lost 1.02%, while the S&P 500 lost 4.61%.
Goldman Sachs will be looking to display strength as it nears its next earnings release. On that day, Goldman Sachs is projected to report earnings of $6.44 per share, which would represent a year-over-year decline of 40.43%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $11.18 billion, down 11.58% from the year-ago period.
Investors should also note any recent changes to analyst estimates for Goldman Sachs. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 1.75% lower. Goldman Sachs is currently sporting a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Goldman Sachs has a Forward P/E ratio of 9.22 right now. This valuation marks a discount compared to its industry's average Forward P/E of 11.77.
The Financial - Investment Bank industry is part of the Finance sector. This group has a Zacks Industry Rank of 89, putting it in the top 36% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow GS in the coming trading sessions, be sure to utilize Zacks.com.