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Goldman Sachs (GS) Gains But Lags Market: What You Should Know
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Goldman Sachs (GS - Free Report) closed at $343.43 in the latest trading session, marking a +0.75% move from the prior day. This change lagged the S&P 500's 1.75% gain on the day. Meanwhile, the Dow gained 1.05%, and the Nasdaq, a tech-heavy index, added 7.84%.
Heading into today, shares of the investment bank had lost 11.73% over the past month, lagging the Finance sector's loss of 3.23% and the S&P 500's loss of 4.4% in that time.
Wall Street will be looking for positivity from Goldman Sachs as it approaches its next earnings report date. The company is expected to report EPS of $6.73, down 37.74% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $11.23 billion, down 11.13% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $33.46 per share and revenue of $47.62 billion, which would represent changes of -43.72% and -19.75%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Goldman Sachs. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about 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. Over the past month, the Zacks Consensus EPS estimate has moved 0.32% higher. Goldman Sachs is currently sporting a Zacks Rank of #3 (Hold).
Looking at its valuation, Goldman Sachs is holding a Forward P/E ratio of 10.19. This represents a discount compared to its industry's average Forward P/E of 14.45.
The Financial - Investment Bank industry is part of the Finance sector. This group has a Zacks Industry Rank of 42, putting it in the top 17% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Goldman Sachs (GS) Gains But Lags Market: What You Should Know
Goldman Sachs (GS - Free Report) closed at $343.43 in the latest trading session, marking a +0.75% move from the prior day. This change lagged the S&P 500's 1.75% gain on the day. Meanwhile, the Dow gained 1.05%, and the Nasdaq, a tech-heavy index, added 7.84%.
Heading into today, shares of the investment bank had lost 11.73% over the past month, lagging the Finance sector's loss of 3.23% and the S&P 500's loss of 4.4% in that time.
Wall Street will be looking for positivity from Goldman Sachs as it approaches its next earnings report date. The company is expected to report EPS of $6.73, down 37.74% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $11.23 billion, down 11.13% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $33.46 per share and revenue of $47.62 billion, which would represent changes of -43.72% and -19.75%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Goldman Sachs. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about 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. Over the past month, the Zacks Consensus EPS estimate has moved 0.32% higher. Goldman Sachs is currently sporting a Zacks Rank of #3 (Hold).
Looking at its valuation, Goldman Sachs is holding a Forward P/E ratio of 10.19. This represents a discount compared to its industry's average Forward P/E of 14.45.
The Financial - Investment Bank industry is part of the Finance sector. This group has a Zacks Industry Rank of 42, putting it in the top 17% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.