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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 $338.31, moving -0.42% from the previous trading session. This change lagged the S&P 500's 0.37% loss on the day. Meanwhile, the Dow lost 0.32%, and the Nasdaq, a tech-heavy index, lost 1.18%.
Heading into today, shares of the investment bank had gained 3.08% over the past month, lagging the Finance sector's gain of 6.02% and the S&P 500's gain of 7.18% 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 19, 2023. The company is expected to report EPS of $7.63, down 1.29% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $12.03 billion, up 1.44% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $31.57 per share and revenue of $48.18 billion, which would represent changes of +5.02% and +1.72%, respectively, from the prior year.
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.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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. The Zacks Consensus EPS estimate has moved 0.81% lower within the past month. Goldman Sachs is currently sporting a Zacks Rank of #3 (Hold).
Looking at its valuation, Goldman Sachs is holding a Forward P/E ratio of 10.76. This represents a discount compared to its industry's average Forward P/E of 13.86.
Also, we should mention that GS has a PEG ratio of 0.91. 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 0.91 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 195, putting it in the bottom 23% 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.
You can find more information on all of these metrics, and much more, on 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 $338.31, moving -0.42% from the previous trading session. This change lagged the S&P 500's 0.37% loss on the day. Meanwhile, the Dow lost 0.32%, and the Nasdaq, a tech-heavy index, lost 1.18%.
Heading into today, shares of the investment bank had gained 3.08% over the past month, lagging the Finance sector's gain of 6.02% and the S&P 500's gain of 7.18% 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 19, 2023. The company is expected to report EPS of $7.63, down 1.29% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $12.03 billion, up 1.44% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $31.57 per share and revenue of $48.18 billion, which would represent changes of +5.02% and +1.72%, respectively, from the prior year.
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.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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. The Zacks Consensus EPS estimate has moved 0.81% lower within the past month. Goldman Sachs is currently sporting a Zacks Rank of #3 (Hold).
Looking at its valuation, Goldman Sachs is holding a Forward P/E ratio of 10.76. This represents a discount compared to its industry's average Forward P/E of 13.86.
Also, we should mention that GS has a PEG ratio of 0.91. 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 0.91 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 195, putting it in the bottom 23% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.