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Goldman Sachs (GS) Increases Yet Falls Behind Market: What Investors Need to Know
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Goldman Sachs (GS - Free Report) ended the recent trading session at $380.65, demonstrating a +0.02% swing from the preceding day's closing price. The stock's change was less than the S&P 500's daily gain of 0.17%. At the same time, the Dow lost 0.05%, and the tech-heavy Nasdaq gained 0.2%.
Heading into today, shares of the investment bank had gained 12.38% over the past month, outpacing the Finance sector's gain of 7.56% and the S&P 500's gain of 4.71% in that time.
Investors will be eagerly watching for the performance of Goldman Sachs in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on January 16, 2024. It is anticipated that the company will report an EPS of $5.06, marking a 52.41% rise compared to the same quarter of the previous year. Meanwhile, our latest consensus estimate is calling for revenue of $10.97 billion, up 3.56% from the prior-year quarter.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $22.73 per share and a revenue of $45.91 billion, signifying shifts of -24.38% and -3.08%, respectively, from the last year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Goldman Sachs. These revisions help to show the ever-changing nature of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional 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. Over the past month, the Zacks Consensus EPS estimate has shifted 1.09% downward. Goldman Sachs presently features a Zacks Rank of #3 (Hold).
In the context of valuation, Goldman Sachs is at present trading with a Forward P/E ratio of 16.74. This signifies a discount in comparison to the average Forward P/E of 18.11 for its industry.
One should further note that GS currently holds a PEG ratio of 2.26. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. As of the close of trade yesterday, the Financial - Investment Bank industry held an average PEG ratio of 1.62.
The Financial - Investment Bank industry is part of the Finance sector. Currently, this industry holds a Zacks Industry Rank of 205, positioning it in the bottom 19% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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Goldman Sachs (GS) Increases Yet Falls Behind Market: What Investors Need to Know
Goldman Sachs (GS - Free Report) ended the recent trading session at $380.65, demonstrating a +0.02% swing from the preceding day's closing price. The stock's change was less than the S&P 500's daily gain of 0.17%. At the same time, the Dow lost 0.05%, and the tech-heavy Nasdaq gained 0.2%.
Heading into today, shares of the investment bank had gained 12.38% over the past month, outpacing the Finance sector's gain of 7.56% and the S&P 500's gain of 4.71% in that time.
Investors will be eagerly watching for the performance of Goldman Sachs in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on January 16, 2024. It is anticipated that the company will report an EPS of $5.06, marking a 52.41% rise compared to the same quarter of the previous year. Meanwhile, our latest consensus estimate is calling for revenue of $10.97 billion, up 3.56% from the prior-year quarter.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $22.73 per share and a revenue of $45.91 billion, signifying shifts of -24.38% and -3.08%, respectively, from the last year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Goldman Sachs. These revisions help to show the ever-changing nature of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional 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. Over the past month, the Zacks Consensus EPS estimate has shifted 1.09% downward. Goldman Sachs presently features a Zacks Rank of #3 (Hold).
In the context of valuation, Goldman Sachs is at present trading with a Forward P/E ratio of 16.74. This signifies a discount in comparison to the average Forward P/E of 18.11 for its industry.
One should further note that GS currently holds a PEG ratio of 2.26. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. As of the close of trade yesterday, the Financial - Investment Bank industry held an average PEG ratio of 1.62.
The Financial - Investment Bank industry is part of the Finance sector. Currently, this industry holds a Zacks Industry Rank of 205, positioning it in the bottom 19% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.