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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 $349.29 in the latest trading session, marking a +0.93% move from the prior day. This move outpaced the S&P 500's daily gain of 0.14%. At the same time, the Dow lost 0.18%, and the tech-heavy Nasdaq gained 1.54%.
Heading into today, shares of the investment bank had lost 7.56% over the past month, lagging the Finance sector's loss of 4.43% and the S&P 500's loss of 4.07% in that time.
Wall Street will be looking for positivity from Goldman Sachs as it approaches its next earnings report date. In that report, analysts expect Goldman Sachs to post earnings of $8.62 per share. This would mark a year-over-year decline of 19.89%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $13.28 billion, up 2.69% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $32.95 per share and revenue of $50.37 billion, which would represent changes of +9.61% and +6.34%, respectively, from the prior year.
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. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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. Within the past 30 days, our consensus EPS projection has moved 0.94% 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 10.5. For comparison, its industry has an average Forward P/E of 12.61, which means Goldman Sachs is trading at a discount to the group.
It is also worth noting that GS currently has a PEG ratio of 1.33. 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. GS's industry had an average PEG ratio of 1.15 as of yesterday's close.
The Financial - Investment Bank industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 75, which puts it in the top 30% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Goldman Sachs (GS) Outpaces Stock Market Gains: What You Should Know
Goldman Sachs (GS - Free Report) closed at $349.29 in the latest trading session, marking a +0.93% move from the prior day. This move outpaced the S&P 500's daily gain of 0.14%. At the same time, the Dow lost 0.18%, and the tech-heavy Nasdaq gained 1.54%.
Heading into today, shares of the investment bank had lost 7.56% over the past month, lagging the Finance sector's loss of 4.43% and the S&P 500's loss of 4.07% in that time.
Wall Street will be looking for positivity from Goldman Sachs as it approaches its next earnings report date. In that report, analysts expect Goldman Sachs to post earnings of $8.62 per share. This would mark a year-over-year decline of 19.89%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $13.28 billion, up 2.69% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $32.95 per share and revenue of $50.37 billion, which would represent changes of +9.61% and +6.34%, respectively, from the prior year.
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. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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. Within the past 30 days, our consensus EPS projection has moved 0.94% 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 10.5. For comparison, its industry has an average Forward P/E of 12.61, which means Goldman Sachs is trading at a discount to the group.
It is also worth noting that GS currently has a PEG ratio of 1.33. 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. GS's industry had an average PEG ratio of 1.15 as of yesterday's close.
The Financial - Investment Bank industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 75, which puts it in the top 30% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.