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Goldman Sachs (GS) Stock Sinks As Market Gains: What You Should Know
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Goldman Sachs (GS - Free Report) closed the most recent trading day at $279.79, moving -1.82% from the previous trading session. This move lagged the S&P 500's daily gain of 0.22%. At the same time, the Dow lost 0.13%, and the tech-heavy Nasdaq gained 0.22%.
Coming into today, shares of the investment bank had lost 8.8% in the past month. In that same time, the Finance sector lost 9.02%, while the S&P 500 lost 10.02%.
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 $8.42 per share, which would represent a year-over-year decline of 43.94%. Our most recent consensus estimate is calling for quarterly revenue of $11.5 billion, down 25.28% from the year-ago period.
GS's full-year Zacks Consensus Estimates are calling for earnings of $37.70 per share and revenue of $47.74 billion. These results would represent year-over-year changes of -36.59% and -19.55%, respectively.
Investors might also notice recent changes to analyst estimates for Goldman Sachs. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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 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. The Zacks Consensus EPS estimate has moved 0.76% lower within the past month. Goldman Sachs currently has a Zacks Rank of #3 (Hold).
In terms of valuation, Goldman Sachs is currently trading at a Forward P/E ratio of 7.42. This valuation marks a discount compared to its industry's average Forward P/E of 9.97.
Meanwhile, GS's PEG ratio is currently 0.58. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Financial - Investment Bank was holding an average PEG ratio of 0.69 at yesterday's closing price.
The Financial - Investment Bank industry is part of the Finance sector. This group has a Zacks Industry Rank of 178, putting it in the bottom 30% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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) Stock Sinks As Market Gains: What You Should Know
Goldman Sachs (GS - Free Report) closed the most recent trading day at $279.79, moving -1.82% from the previous trading session. This move lagged the S&P 500's daily gain of 0.22%. At the same time, the Dow lost 0.13%, and the tech-heavy Nasdaq gained 0.22%.
Coming into today, shares of the investment bank had lost 8.8% in the past month. In that same time, the Finance sector lost 9.02%, while the S&P 500 lost 10.02%.
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 $8.42 per share, which would represent a year-over-year decline of 43.94%. Our most recent consensus estimate is calling for quarterly revenue of $11.5 billion, down 25.28% from the year-ago period.
GS's full-year Zacks Consensus Estimates are calling for earnings of $37.70 per share and revenue of $47.74 billion. These results would represent year-over-year changes of -36.59% and -19.55%, respectively.
Investors might also notice recent changes to analyst estimates for Goldman Sachs. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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 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. The Zacks Consensus EPS estimate has moved 0.76% lower within the past month. Goldman Sachs currently has a Zacks Rank of #3 (Hold).
In terms of valuation, Goldman Sachs is currently trading at a Forward P/E ratio of 7.42. This valuation marks a discount compared to its industry's average Forward P/E of 9.97.
Meanwhile, GS's PEG ratio is currently 0.58. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Financial - Investment Bank was holding an average PEG ratio of 0.69 at yesterday's closing price.
The Financial - Investment Bank industry is part of the Finance sector. This group has a Zacks Industry Rank of 178, putting it in the bottom 30% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.