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Is Goldman Sachs (GS) Set to Beat Q1 Earnings Estimates?
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Shares of Goldman Sachs (GS - Free Report) climbed on Tuesday after Chinese President Xi Jinping’s speech helped alleviate some trade war fears. Clearly, avoiding a trade war would be good for Goldman, but investors will still want to look to the investment giant’s upcoming first quarter financial results in order to gauge near-term success.
Despite the recent surge, the market looks like it might lean more bearish for now. Therefore, investors should focus much of their attention on Goldman’s Q1 earnings estimates to see if a bottom line beat might be in store.
The reasoning here is simple: Finding stocks that are set to top earnings estimates is one of the best ways for investors to come out on top during volatile times.
Q1 Outlook
Our current Zacks Consensus Estimates are calling for Goldman’s Q1 revenues to climb by 10.7% to reach $8.89 billion.
Meanwhile, Goldman’s quarterly earnings are also projected to jump over 10% to $5.67 per share. Goldman has also experienced solid earnings estimate revision activity recently, having earned four upward revisions within the last 60 days, against just one downward revision.
However, these estimates don’t give investors any idea if Goldman is actually projected to top our current earnings estimate. Luckily, Zacks Premium customers can utilize the Earnings ESP Screener in order to search for stocks that are expected to surprise.
This is done because, generally speaking, when an analyst posts an estimate right before an earnings release, it means that they have fresh information which could potentially be more accurate than what analysts thought about a company two or three months ago.
A positive Earnings ESP paired with a Zacks Rank #3 (Hold) or better ranking helps us feel confident about the potential for an earnings beat. In fact, our 10-year backtest has revealed that this methodology has accurately produced a positive surprise 70% of the time.
Goldman has earned one upward earnings estimate revision within the last seven days, which upped its Most Accurate Estimate for Q1 to $5.69 per share. This estimate comes in 2 cents above our current consensus estimate.
Goldman is also currently a Zacks Rank #3 (Hold) and sports an Earnings ESP of 0.37%, which means investors should consider Goldman a stock that could be poised to beat Q1 earnings estimates.
Goldman is expected to report its Q1 earnings results before the opening bell on Tuesday, April 17.
Fellow banking powers, JPMorgan (JPM - Free Report) , Citigroup (C - Free Report) , and Wells Fargo (WFC - Free Report) are all set to report their quarterly earnings on Friday, April 13.
Looking for Stocks with Skyrocketing Upside?
Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.
Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look.
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Is Goldman Sachs (GS) Set to Beat Q1 Earnings Estimates?
Shares of Goldman Sachs (GS - Free Report) climbed on Tuesday after Chinese President Xi Jinping’s speech helped alleviate some trade war fears. Clearly, avoiding a trade war would be good for Goldman, but investors will still want to look to the investment giant’s upcoming first quarter financial results in order to gauge near-term success.
Despite the recent surge, the market looks like it might lean more bearish for now. Therefore, investors should focus much of their attention on Goldman’s Q1 earnings estimates to see if a bottom line beat might be in store.
The reasoning here is simple: Finding stocks that are set to top earnings estimates is one of the best ways for investors to come out on top during volatile times.
Q1 Outlook
Our current Zacks Consensus Estimates are calling for Goldman’s Q1 revenues to climb by 10.7% to reach $8.89 billion.
Meanwhile, Goldman’s quarterly earnings are also projected to jump over 10% to $5.67 per share. Goldman has also experienced solid earnings estimate revision activity recently, having earned four upward revisions within the last 60 days, against just one downward revision.
However, these estimates don’t give investors any idea if Goldman is actually projected to top our current earnings estimate. Luckily, Zacks Premium customers can utilize the Earnings ESP Screener in order to search for stocks that are expected to surprise.
This is done because, generally speaking, when an analyst posts an estimate right before an earnings release, it means that they have fresh information which could potentially be more accurate than what analysts thought about a company two or three months ago.
A positive Earnings ESP paired with a Zacks Rank #3 (Hold) or better ranking helps us feel confident about the potential for an earnings beat. In fact, our 10-year backtest has revealed that this methodology has accurately produced a positive surprise 70% of the time.
Goldman has earned one upward earnings estimate revision within the last seven days, which upped its Most Accurate Estimate for Q1 to $5.69 per share. This estimate comes in 2 cents above our current consensus estimate.
Goldman is also currently a Zacks Rank #3 (Hold) and sports an Earnings ESP of 0.37%, which means investors should consider Goldman a stock that could be poised to beat Q1 earnings estimates.
Goldman is expected to report its Q1 earnings results before the opening bell on Tuesday, April 17.
Fellow banking powers, JPMorgan (JPM - Free Report) , Citigroup (C - Free Report) , and Wells Fargo (WFC - Free Report) are all set to report their quarterly earnings on Friday, April 13.
Looking for Stocks with Skyrocketing Upside?
Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.
Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look.
See the pot trades we're targeting>>