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Goldman Sachs (GS) Outpaces Stock Market Gains: What You Should Know
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Goldman Sachs (GS - Free Report) closed at $368.69 in the latest trading session, marking a +1.52% move from the prior day. This change outpaced the S&P 500's 0.73% gain on the day. Meanwhile, the Dow gained 0.31%, and the Nasdaq, a tech-heavy index, added 0.16%.
Prior to today's trading, shares of the investment bank had lost 5.02% over the past month. This has lagged the Finance sector's loss of 1.41% and the S&P 500's gain of 0.09% in that time.
Wall Street will be looking for positivity from Goldman Sachs as it approaches its next earnings report date. On that day, Goldman Sachs is projected to report earnings of $6.80 per share, which would represent a year-over-year decline of 37.1%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $11.23 billion, down 11.13% from the year-ago period.
GS's full-year Zacks Consensus Estimates are calling for earnings of $33.53 per share and revenue of $47.62 billion. These results would represent year-over-year changes of -43.6% and -19.75%, respectively.
It is also important to note the recent changes to analyst estimates for Goldman Sachs. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 0.51% higher. Goldman Sachs is holding a Zacks Rank of #3 (Hold) right now.
Looking at its valuation, Goldman Sachs is holding a Forward P/E ratio of 10.83. This represents a discount compared to its industry's average Forward P/E of 14.98.
The Financial - Investment Bank industry is part of the Finance sector. This group has a Zacks Industry Rank of 84, putting it in the top 34% 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.
To follow GS in the coming trading sessions, be sure to utilize Zacks.com.
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Goldman Sachs (GS) Outpaces Stock Market Gains: What You Should Know
Goldman Sachs (GS - Free Report) closed at $368.69 in the latest trading session, marking a +1.52% move from the prior day. This change outpaced the S&P 500's 0.73% gain on the day. Meanwhile, the Dow gained 0.31%, and the Nasdaq, a tech-heavy index, added 0.16%.
Prior to today's trading, shares of the investment bank had lost 5.02% over the past month. This has lagged the Finance sector's loss of 1.41% and the S&P 500's gain of 0.09% in that time.
Wall Street will be looking for positivity from Goldman Sachs as it approaches its next earnings report date. On that day, Goldman Sachs is projected to report earnings of $6.80 per share, which would represent a year-over-year decline of 37.1%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $11.23 billion, down 11.13% from the year-ago period.
GS's full-year Zacks Consensus Estimates are calling for earnings of $33.53 per share and revenue of $47.62 billion. These results would represent year-over-year changes of -43.6% and -19.75%, respectively.
It is also important to note the recent changes to analyst estimates for Goldman Sachs. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 0.51% higher. Goldman Sachs is holding a Zacks Rank of #3 (Hold) right now.
Looking at its valuation, Goldman Sachs is holding a Forward P/E ratio of 10.83. This represents a discount compared to its industry's average Forward P/E of 14.98.
The Financial - Investment Bank industry is part of the Finance sector. This group has a Zacks Industry Rank of 84, putting it in the top 34% 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.
To follow GS in the coming trading sessions, be sure to utilize Zacks.com.