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Goldman Sachs (GS) Outpaces Stock Market Gains: What You Should Know
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In the latest trading session, Goldman Sachs (GS - Free Report) closed at $320.51, marking a +0.57% move from the previous day. This change outpaced the S&P 500's 0.31% gain on the day. Meanwhile, the Dow gained 0.05%, and the Nasdaq, a tech-heavy index, added 0.14%.
Heading into today, shares of the investment bank had gained 1.83% over the past month, outpacing the Finance sector's loss of 0.4% and the S&P 500's loss of 1.38% in that time.
Wall Street will be looking for positivity from Goldman Sachs as it approaches its next earnings report date. This is expected to be July 18, 2022. On that day, Goldman Sachs is projected to report earnings of $8.38 per share, which would represent a year-over-year decline of 44.21%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $11.46 billion, down 25.54% from the year-ago period.
GS's full-year Zacks Consensus Estimates are calling for earnings of $37.70 per share and revenue of $47.73 billion. These results would represent year-over-year changes of -36.59% and -19.57%, respectively.
Investors should also note any 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. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
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. Over the past month, the Zacks Consensus EPS estimate has moved 0.78% lower. Goldman Sachs is holding a Zacks Rank of #3 (Hold) right now.
Looking at its valuation, Goldman Sachs is holding a Forward P/E ratio of 8.45. This valuation marks a discount compared to its industry's average Forward P/E of 11.5.
Also, we should mention that GS has a PEG ratio of 0.66. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. Financial - Investment Bank stocks are, on average, holding a PEG ratio of 0.8 based on yesterday's closing prices.
The Financial - Investment Bank industry is part of the Finance sector. This group has a Zacks Industry Rank of 229, putting it in the bottom 10% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Goldman Sachs (GS) Outpaces Stock Market Gains: What You Should Know
In the latest trading session, Goldman Sachs (GS - Free Report) closed at $320.51, marking a +0.57% move from the previous day. This change outpaced the S&P 500's 0.31% gain on the day. Meanwhile, the Dow gained 0.05%, and the Nasdaq, a tech-heavy index, added 0.14%.
Heading into today, shares of the investment bank had gained 1.83% over the past month, outpacing the Finance sector's loss of 0.4% and the S&P 500's loss of 1.38% in that time.
Wall Street will be looking for positivity from Goldman Sachs as it approaches its next earnings report date. This is expected to be July 18, 2022. On that day, Goldman Sachs is projected to report earnings of $8.38 per share, which would represent a year-over-year decline of 44.21%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $11.46 billion, down 25.54% from the year-ago period.
GS's full-year Zacks Consensus Estimates are calling for earnings of $37.70 per share and revenue of $47.73 billion. These results would represent year-over-year changes of -36.59% and -19.57%, respectively.
Investors should also note any 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. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
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. Over the past month, the Zacks Consensus EPS estimate has moved 0.78% lower. Goldman Sachs is holding a Zacks Rank of #3 (Hold) right now.
Looking at its valuation, Goldman Sachs is holding a Forward P/E ratio of 8.45. This valuation marks a discount compared to its industry's average Forward P/E of 11.5.
Also, we should mention that GS has a PEG ratio of 0.66. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. Financial - Investment Bank stocks are, on average, holding a PEG ratio of 0.8 based on yesterday's closing prices.
The Financial - Investment Bank industry is part of the Finance sector. This group has a Zacks Industry Rank of 229, putting it in the bottom 10% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.