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Goldman Sachs (GS) Dips More Than Broader Markets: What You Should Know
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In the latest trading session, Goldman Sachs (GS - Free Report) closed at $300.78, marking a -0.65% move from the previous day. This change lagged the S&P 500's 0.3% loss on the day. Meanwhile, the Dow lost 0.2%, and the Nasdaq, a tech-heavy index, lost 0.11%.
Coming into today, shares of the investment bank had lost 7.86% in the past month. In that same time, the Finance sector lost 3.72%, while the S&P 500 lost 0.62%.
Wall Street will be looking for positivity from Goldman Sachs as it approaches its next earnings report date. This is expected to be July 18, 2022. In that report, analysts expect Goldman Sachs to post earnings of $8.42 per share. This would mark a year-over-year decline of 43.94%. Our most recent consensus estimate is calling for quarterly revenue of $11.5 billion, down 25.28% from the year-ago period.
GS's full-year Zacks Consensus Estimates are calling for earnings of $37.70 per share and revenue of $47.74 billion. These results would represent year-over-year changes of -36.59% and -19.55%, respectively.
Investors should also note any recent changes to analyst estimates for Goldman Sachs. Recent revisions tend to reflect the latest near-term business trends. 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. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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 0.02% higher within the past month. Goldman Sachs is holding a Zacks Rank of #3 (Hold) right now.
Digging into valuation, Goldman Sachs currently has a Forward P/E ratio of 8.03. Its industry sports an average Forward P/E of 10.64, so we one might conclude that Goldman Sachs is trading at a discount comparatively.
Meanwhile, GS's PEG ratio is currently 0.63. 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. Financial - Investment Bank stocks are, on average, holding a PEG ratio of 0.74 based on yesterday's closing prices.
The Financial - Investment Bank industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 174, which puts it in the bottom 32% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Goldman Sachs (GS) Dips More Than Broader Markets: What You Should Know
In the latest trading session, Goldman Sachs (GS - Free Report) closed at $300.78, marking a -0.65% move from the previous day. This change lagged the S&P 500's 0.3% loss on the day. Meanwhile, the Dow lost 0.2%, and the Nasdaq, a tech-heavy index, lost 0.11%.
Coming into today, shares of the investment bank had lost 7.86% in the past month. In that same time, the Finance sector lost 3.72%, while the S&P 500 lost 0.62%.
Wall Street will be looking for positivity from Goldman Sachs as it approaches its next earnings report date. This is expected to be July 18, 2022. In that report, analysts expect Goldman Sachs to post earnings of $8.42 per share. This would mark a year-over-year decline of 43.94%. Our most recent consensus estimate is calling for quarterly revenue of $11.5 billion, down 25.28% from the year-ago period.
GS's full-year Zacks Consensus Estimates are calling for earnings of $37.70 per share and revenue of $47.74 billion. These results would represent year-over-year changes of -36.59% and -19.55%, respectively.
Investors should also note any recent changes to analyst estimates for Goldman Sachs. Recent revisions tend to reflect the latest near-term business trends. 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. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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 0.02% higher within the past month. Goldman Sachs is holding a Zacks Rank of #3 (Hold) right now.
Digging into valuation, Goldman Sachs currently has a Forward P/E ratio of 8.03. Its industry sports an average Forward P/E of 10.64, so we one might conclude that Goldman Sachs is trading at a discount comparatively.
Meanwhile, GS's PEG ratio is currently 0.63. 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. Financial - Investment Bank stocks are, on average, holding a PEG ratio of 0.74 based on yesterday's closing prices.
The Financial - Investment Bank industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 174, which puts it in the bottom 32% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
You can find more information on all of these metrics, and much more, on Zacks.com.