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Goldman Sachs (GS) Dips More Than Broader Markets: What You Should Know
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Goldman Sachs (GS - Free Report) closed at $384.64 in the latest trading session, marking a -1.64% move from the prior day. This change lagged the S&P 500's 0.91% loss on the day. At the same time, the Dow lost 0.89%, and the tech-heavy Nasdaq lost 0.12%.
Heading into today, shares of the investment bank had lost 3.42% over the past month, lagging the Finance sector's loss of 2.19% and the S&P 500's gain of 1.55% in that time.
Goldman Sachs will be looking to display strength as it nears its next earnings release. On that day, Goldman Sachs is projected to report earnings of $11.89 per share, which would represent a year-over-year decline of 1.57%. Meanwhile, our latest consensus estimate is calling for revenue of $11.65 billion, down 0.79% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $60.43 per share and revenue of $58.41 billion, which would represent changes of +144.26% and +31.09%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Goldman Sachs. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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. The Zacks Consensus EPS estimate has moved 0.51% higher within the past month. Goldman Sachs is currently sporting a Zacks Rank of #2 (Buy).
In terms of valuation, Goldman Sachs is currently trading at a Forward P/E ratio of 6.47. For comparison, its industry has an average Forward P/E of 10.76, which means Goldman Sachs is trading at a discount to the group.
We can also see that GS currently has a PEG ratio of 0.58. 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. Financial - Investment Bank stocks are, on average, holding a PEG ratio of 0.58 based on yesterday's closing prices.
The Financial - Investment Bank industry is part of the Finance sector. This group has a Zacks Industry Rank of 36, putting it in the top 15% 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.
To follow GS in the coming trading sessions, be sure to utilize Zacks.com.
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Goldman Sachs (GS) Dips More Than Broader Markets: What You Should Know
Goldman Sachs (GS - Free Report) closed at $384.64 in the latest trading session, marking a -1.64% move from the prior day. This change lagged the S&P 500's 0.91% loss on the day. At the same time, the Dow lost 0.89%, and the tech-heavy Nasdaq lost 0.12%.
Heading into today, shares of the investment bank had lost 3.42% over the past month, lagging the Finance sector's loss of 2.19% and the S&P 500's gain of 1.55% in that time.
Goldman Sachs will be looking to display strength as it nears its next earnings release. On that day, Goldman Sachs is projected to report earnings of $11.89 per share, which would represent a year-over-year decline of 1.57%. Meanwhile, our latest consensus estimate is calling for revenue of $11.65 billion, down 0.79% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $60.43 per share and revenue of $58.41 billion, which would represent changes of +144.26% and +31.09%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Goldman Sachs. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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. The Zacks Consensus EPS estimate has moved 0.51% higher within the past month. Goldman Sachs is currently sporting a Zacks Rank of #2 (Buy).
In terms of valuation, Goldman Sachs is currently trading at a Forward P/E ratio of 6.47. For comparison, its industry has an average Forward P/E of 10.76, which means Goldman Sachs is trading at a discount to the group.
We can also see that GS currently has a PEG ratio of 0.58. 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. Financial - Investment Bank stocks are, on average, holding a PEG ratio of 0.58 based on yesterday's closing prices.
The Financial - Investment Bank industry is part of the Finance sector. This group has a Zacks Industry Rank of 36, putting it in the top 15% 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.
To follow GS in the coming trading sessions, be sure to utilize Zacks.com.