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Goldman Sachs (GS) Dips More Than Broader Markets: What You Should Know
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Goldman Sachs (GS - Free Report) closed the most recent trading day at $346.23, moving -1.54% from the previous trading session. This move lagged the S&P 500's daily loss of 0.47%. Elsewhere, the Dow gained 0.02%, while the tech-heavy Nasdaq lost 15.51%.
Prior to today's trading, shares of the investment bank had lost 3.87% over the past month. This has lagged the Finance sector's loss of 2.63% and the S&P 500's loss of 2.53% in that time.
Investors will be hoping for strength from Goldman Sachs as it approaches its next earnings release. The company is expected to report EPS of $8.56, down 20.45% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $13.27 billion, up 2.63% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $32.73 per share and revenue of $50.37 billion, which would represent changes of +8.88% and +6.34%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Goldman Sachs. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
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.
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 1.76% lower. Goldman Sachs is currently a Zacks Rank #3 (Hold).
Looking at its valuation, Goldman Sachs is holding a Forward P/E ratio of 10.74. This represents a discount compared to its industry's average Forward P/E of 12.82.
The Financial - Investment Bank industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 96, which puts it in the top 39% 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) Dips More Than Broader Markets: What You Should Know
Goldman Sachs (GS - Free Report) closed the most recent trading day at $346.23, moving -1.54% from the previous trading session. This move lagged the S&P 500's daily loss of 0.47%. Elsewhere, the Dow gained 0.02%, while the tech-heavy Nasdaq lost 15.51%.
Prior to today's trading, shares of the investment bank had lost 3.87% over the past month. This has lagged the Finance sector's loss of 2.63% and the S&P 500's loss of 2.53% in that time.
Investors will be hoping for strength from Goldman Sachs as it approaches its next earnings release. The company is expected to report EPS of $8.56, down 20.45% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $13.27 billion, up 2.63% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $32.73 per share and revenue of $50.37 billion, which would represent changes of +8.88% and +6.34%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Goldman Sachs. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
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.
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 1.76% lower. Goldman Sachs is currently a Zacks Rank #3 (Hold).
Looking at its valuation, Goldman Sachs is holding a Forward P/E ratio of 10.74. This represents a discount compared to its industry's average Forward P/E of 12.82.
The Financial - Investment Bank industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 96, which puts it in the top 39% 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.