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Goldman Sachs (GS) Stock Sinks As Market Gains: Here's Why
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In the latest market close, Goldman Sachs (GS - Free Report) reached $388.43, with a -0.29% movement compared to the previous day. This change lagged the S&P 500's daily gain of 1.03%. On the other hand, the Dow registered a gain of 0.34%, and the technology-centric Nasdaq increased by 1.51%.
The the stock of investment bank has risen by 0.75% in the past month, lagging the Finance sector's gain of 4.69% and the S&P 500's gain of 3.21%.
Market participants will be closely following the financial results of Goldman Sachs in its upcoming release. The company is expected to report EPS of $8.62, down 1.93% from the prior-year quarter. In the meantime, our current consensus estimate forecasts the revenue to be $13.05 billion, indicating a 6.75% growth compared to the corresponding quarter of the prior year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $32.86 per share and a revenue of $50.49 billion, indicating changes of +43.68% and +9.16%, respectively, from the former year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Goldman Sachs. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. 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, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. The Zacks Consensus EPS estimate has moved 1.05% higher within the past month. Goldman Sachs is holding a Zacks Rank of #3 (Hold) right now.
In the context of valuation, Goldman Sachs is at present trading with a Forward P/E ratio of 11.86. This valuation marks a discount compared to its industry's average Forward P/E of 17.07.
It is also worth noting that GS currently has a PEG ratio of 1.51. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Financial - Investment Bank industry currently had an average PEG ratio of 1.17 as of yesterday's close.
The Financial - Investment Bank industry is part of the Finance sector. This group has a Zacks Industry Rank of 30, putting it in the top 12% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within 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) Stock Sinks As Market Gains: Here's Why
In the latest market close, Goldman Sachs (GS - Free Report) reached $388.43, with a -0.29% movement compared to the previous day. This change lagged the S&P 500's daily gain of 1.03%. On the other hand, the Dow registered a gain of 0.34%, and the technology-centric Nasdaq increased by 1.51%.
The the stock of investment bank has risen by 0.75% in the past month, lagging the Finance sector's gain of 4.69% and the S&P 500's gain of 3.21%.
Market participants will be closely following the financial results of Goldman Sachs in its upcoming release. The company is expected to report EPS of $8.62, down 1.93% from the prior-year quarter. In the meantime, our current consensus estimate forecasts the revenue to be $13.05 billion, indicating a 6.75% growth compared to the corresponding quarter of the prior year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $32.86 per share and a revenue of $50.49 billion, indicating changes of +43.68% and +9.16%, respectively, from the former year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Goldman Sachs. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. 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, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. The Zacks Consensus EPS estimate has moved 1.05% higher within the past month. Goldman Sachs is holding a Zacks Rank of #3 (Hold) right now.
In the context of valuation, Goldman Sachs is at present trading with a Forward P/E ratio of 11.86. This valuation marks a discount compared to its industry's average Forward P/E of 17.07.
It is also worth noting that GS currently has a PEG ratio of 1.51. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Financial - Investment Bank industry currently had an average PEG ratio of 1.17 as of yesterday's close.
The Financial - Investment Bank industry is part of the Finance sector. This group has a Zacks Industry Rank of 30, putting it in the top 12% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within 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.