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Goldman Sachs (GS) Dips More Than Broader Markets: What You Should Know
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In the latest trading session, Goldman Sachs (GS - Free Report) closed at $368.50, marking a -0.46% move from the previous day. This change lagged the S&P 500's 0.28% loss on the day. At the same time, the Dow added 0.39%, and the tech-heavy Nasdaq lost 6.73%.
Prior to today's trading, shares of the investment bank had gained 5.55% over the past month. This has outpaced the Finance sector's gain of 1.14% and the S&P 500's gain of 2.48% in that time.
Wall Street will be looking for positivity from Goldman Sachs as it approaches its next earnings report date. On that day, Goldman Sachs is projected to report earnings of $8.48 per share, which would represent a year-over-year decline of 21.19%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $13.22 billion, up 2.21% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $32.64 per share and revenue of $50.29 billion, which would represent changes of +8.58% and +6.17%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Goldman Sachs. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 7.89% 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 11.34 right now. For comparison, its industry has an average Forward P/E of 12.75, which means Goldman Sachs is trading at a discount to the group.
The Financial - Investment Bank industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 83, which puts it in the top 33% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Goldman Sachs (GS) Dips More Than Broader Markets: What You Should Know
In the latest trading session, Goldman Sachs (GS - Free Report) closed at $368.50, marking a -0.46% move from the previous day. This change lagged the S&P 500's 0.28% loss on the day. At the same time, the Dow added 0.39%, and the tech-heavy Nasdaq lost 6.73%.
Prior to today's trading, shares of the investment bank had gained 5.55% over the past month. This has outpaced the Finance sector's gain of 1.14% and the S&P 500's gain of 2.48% in that time.
Wall Street will be looking for positivity from Goldman Sachs as it approaches its next earnings report date. On that day, Goldman Sachs is projected to report earnings of $8.48 per share, which would represent a year-over-year decline of 21.19%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $13.22 billion, up 2.21% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $32.64 per share and revenue of $50.29 billion, which would represent changes of +8.58% and +6.17%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Goldman Sachs. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 7.89% 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 11.34 right now. For comparison, its industry has an average Forward P/E of 12.75, which means Goldman Sachs is trading at a discount to the group.
The Financial - Investment Bank industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 83, which puts it in the top 33% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.