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Goldman Sachs (GS) Gains As Market Dips: What You Should Know
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Goldman Sachs (GS - Free Report) closed at $315.17 in the latest trading session, marking a +0.69% move from the prior day. This change outpaced the S&P 500's 0.29% loss on the day. At the same time, the Dow lost 0.55%, and the tech-heavy Nasdaq gained 1.24%.
Coming into today, shares of the investment bank had lost 6.7% in the past month. In that same time, the Finance sector gained 1.66%, while the S&P 500 gained 3.1%.
Wall Street will be looking for positivity from Goldman Sachs as it approaches its next earnings report date. This is expected to be July 19, 2023. The company is expected to report EPS of $7.64, down 1.16% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $11.96 billion, up 0.81% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $31.21 per share and revenue of $47.18 billion, which would represent changes of +3.83% and -0.39%, respectively, from the prior 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 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. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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. Within the past 30 days, our consensus EPS projection has moved 1.16% lower. Goldman Sachs is currently a Zacks Rank #3 (Hold).
Digging into valuation, Goldman Sachs currently has a Forward P/E ratio of 10.03. For comparison, its industry has an average Forward P/E of 14.26, which means Goldman Sachs is trading at a discount to the group.
It is also worth noting that GS currently has a PEG ratio of 0.84. 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. GS's industry had an average PEG ratio of 0.84 as of yesterday's close.
The Financial - Investment Bank industry is part of the Finance sector. This group has a Zacks Industry Rank of 211, putting it in the bottom 17% 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) Gains As Market Dips: What You Should Know
Goldman Sachs (GS - Free Report) closed at $315.17 in the latest trading session, marking a +0.69% move from the prior day. This change outpaced the S&P 500's 0.29% loss on the day. At the same time, the Dow lost 0.55%, and the tech-heavy Nasdaq gained 1.24%.
Coming into today, shares of the investment bank had lost 6.7% in the past month. In that same time, the Finance sector gained 1.66%, while the S&P 500 gained 3.1%.
Wall Street will be looking for positivity from Goldman Sachs as it approaches its next earnings report date. This is expected to be July 19, 2023. The company is expected to report EPS of $7.64, down 1.16% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $11.96 billion, up 0.81% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $31.21 per share and revenue of $47.18 billion, which would represent changes of +3.83% and -0.39%, respectively, from the prior 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 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. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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. Within the past 30 days, our consensus EPS projection has moved 1.16% lower. Goldman Sachs is currently a Zacks Rank #3 (Hold).
Digging into valuation, Goldman Sachs currently has a Forward P/E ratio of 10.03. For comparison, its industry has an average Forward P/E of 14.26, which means Goldman Sachs is trading at a discount to the group.
It is also worth noting that GS currently has a PEG ratio of 0.84. 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. GS's industry had an average PEG ratio of 0.84 as of yesterday's close.
The Financial - Investment Bank industry is part of the Finance sector. This group has a Zacks Industry Rank of 211, putting it in the bottom 17% 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.