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Goldman Sachs (GS) Stock Moves -1.14%: What You Should Know
Goldman Sachs (GS - Free Report) closed at $313.67 in the latest trading session, marking a -1.14% move from the prior day. This change was narrower than the S&P 500's 1.65% loss on the day. Elsewhere, the Dow lost 1.63%, while the tech-heavy Nasdaq lost 6.65%.
Coming into today, shares of the investment bank had lost 12.14% in the past month. In that same time, the Finance sector lost 6.77%, while the S&P 500 gained 0.3%.
Goldman Sachs will be looking to display strength as it nears its next earnings release, which is expected to be April 18, 2023. In that report, analysts expect Goldman Sachs to post earnings of $8.75 per share. This would mark a year-over-year decline of 18.68%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $13.28 billion, up 2.69% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $33.14 per share and revenue of $50.37 billion. These totals would mark changes of +10.25% and +6.34%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for Goldman Sachs. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
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 1.52% higher within the past month. Goldman Sachs is currently sporting a Zacks Rank of #3 (Hold).
Investors should also note Goldman Sachs's current valuation metrics, including its Forward P/E ratio of 9.57. Its industry sports an average Forward P/E of 12.3, so we one might conclude that Goldman Sachs is trading at a discount comparatively.
Meanwhile, GS's PEG ratio is currently 0.62. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. Financial - Investment Bank stocks are, on average, holding a PEG ratio of 0.96 based on yesterday's closing prices.
The Financial - Investment Bank industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 97, 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.