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Goldman Sachs (GS) Stock Sinks As Market Gains: What You Should Know
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Goldman Sachs (GS - Free Report) closed at $397.48 in the latest trading session, marking a -0.82% move from the prior day. This change lagged the S&P 500's daily gain of 0.74%. Elsewhere, the Dow lost 0.01%, while the tech-heavy Nasdaq added 1.68%.
The investment bank's shares have seen an increase of 2.15% over the last month, surpassing the Finance sector's loss of 3.65% and the S&P 500's gain of 0.8%.
Analysts and investors alike will be keeping a close eye on the performance of Goldman Sachs in its upcoming earnings disclosure. The company's earnings report is set to go public on April 15, 2024. The company is predicted to post an EPS of $8.66, indicating a 1.48% decline compared to the equivalent quarter last year. In the meantime, our current consensus estimate forecasts the revenue to be $12.89 billion, indicating a 5.46% growth compared to the corresponding quarter of the prior year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $33.13 per share and a revenue of $50.31 billion, indicating changes of +44.86% and +8.77%, respectively, from the former year.
Any recent changes to analyst estimates for Goldman Sachs should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, there's been a 0.33% fall in the Zacks Consensus EPS estimate. Currently, Goldman Sachs is carrying a Zacks Rank of #3 (Hold).
In terms of valuation, Goldman Sachs is presently being traded at a Forward P/E ratio of 12.1. This expresses a discount compared to the average Forward P/E of 16.24 of its industry.
One should further note that GS currently holds a PEG ratio of 1.54. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The average PEG ratio for the Financial - Investment Bank industry stood at 1.29 at the close of the market yesterday.
The Financial - Investment Bank industry is part of the Finance sector. This group has a Zacks Industry Rank of 25, putting it in the top 10% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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Goldman Sachs (GS) Stock Sinks As Market Gains: What You Should Know
Goldman Sachs (GS - Free Report) closed at $397.48 in the latest trading session, marking a -0.82% move from the prior day. This change lagged the S&P 500's daily gain of 0.74%. Elsewhere, the Dow lost 0.01%, while the tech-heavy Nasdaq added 1.68%.
The investment bank's shares have seen an increase of 2.15% over the last month, surpassing the Finance sector's loss of 3.65% and the S&P 500's gain of 0.8%.
Analysts and investors alike will be keeping a close eye on the performance of Goldman Sachs in its upcoming earnings disclosure. The company's earnings report is set to go public on April 15, 2024. The company is predicted to post an EPS of $8.66, indicating a 1.48% decline compared to the equivalent quarter last year. In the meantime, our current consensus estimate forecasts the revenue to be $12.89 billion, indicating a 5.46% growth compared to the corresponding quarter of the prior year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $33.13 per share and a revenue of $50.31 billion, indicating changes of +44.86% and +8.77%, respectively, from the former year.
Any recent changes to analyst estimates for Goldman Sachs should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, there's been a 0.33% fall in the Zacks Consensus EPS estimate. Currently, Goldman Sachs is carrying a Zacks Rank of #3 (Hold).
In terms of valuation, Goldman Sachs is presently being traded at a Forward P/E ratio of 12.1. This expresses a discount compared to the average Forward P/E of 16.24 of its industry.
One should further note that GS currently holds a PEG ratio of 1.54. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The average PEG ratio for the Financial - Investment Bank industry stood at 1.29 at the close of the market yesterday.
The Financial - Investment Bank industry is part of the Finance sector. This group has a Zacks Industry Rank of 25, putting it in the top 10% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.