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Goldman Sachs (GS) Stock Moves -1.29%: What You Should Know
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In the latest trading session, Goldman Sachs (GS - Free Report) closed at $283.32, marking a -1.29% move from the previous day. This change was narrower than the S&P 500's 3.88% loss on the day. At the same time, the Dow lost 2.79%, and the tech-heavy Nasdaq lost 0.66%.
Prior to today's trading, shares of the investment bank had lost 6.51% over the past month. This has lagged the Finance sector's loss of 1.57% and the S&P 500's loss of 2.32% in that time.
Investors will be hoping for strength from Goldman Sachs as it approaches its next earnings release, which is expected to be July 18, 2022. On that day, Goldman Sachs is projected to report earnings of $8.42 per share, which would represent a year-over-year decline of 43.94%. 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.
It is also important to note the recent changes to analyst estimates for Goldman Sachs. These revisions help to show the ever-changing nature of near-term business trends. 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. 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.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.76% lower. Goldman Sachs is currently a Zacks Rank #3 (Hold).
In terms of valuation, Goldman Sachs is currently trading at a Forward P/E ratio of 7.61. For comparison, its industry has an average Forward P/E of 10.58, which means Goldman Sachs is trading at a discount to the group.
We can also see that GS currently has a PEG ratio of 0.59. 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. The Financial - Investment Bank industry currently had an average PEG ratio of 0.71 as of yesterday's close.
The Financial - Investment Bank industry is part of the Finance sector. This group has a Zacks Industry Rank of 189, putting it in the bottom 26% 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.
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) Stock Moves -1.29%: What You Should Know
In the latest trading session, Goldman Sachs (GS - Free Report) closed at $283.32, marking a -1.29% move from the previous day. This change was narrower than the S&P 500's 3.88% loss on the day. At the same time, the Dow lost 2.79%, and the tech-heavy Nasdaq lost 0.66%.
Prior to today's trading, shares of the investment bank had lost 6.51% over the past month. This has lagged the Finance sector's loss of 1.57% and the S&P 500's loss of 2.32% in that time.
Investors will be hoping for strength from Goldman Sachs as it approaches its next earnings release, which is expected to be July 18, 2022. On that day, Goldman Sachs is projected to report earnings of $8.42 per share, which would represent a year-over-year decline of 43.94%. 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.
It is also important to note the recent changes to analyst estimates for Goldman Sachs. These revisions help to show the ever-changing nature of near-term business trends. 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. 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.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.76% lower. Goldman Sachs is currently a Zacks Rank #3 (Hold).
In terms of valuation, Goldman Sachs is currently trading at a Forward P/E ratio of 7.61. For comparison, its industry has an average Forward P/E of 10.58, which means Goldman Sachs is trading at a discount to the group.
We can also see that GS currently has a PEG ratio of 0.59. 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. The Financial - Investment Bank industry currently had an average PEG ratio of 0.71 as of yesterday's close.
The Financial - Investment Bank industry is part of the Finance sector. This group has a Zacks Industry Rank of 189, putting it in the bottom 26% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.