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Goldman Sachs (GS) Gains As Market Dips: What You Should Know
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Goldman Sachs (GS - Free Report) closed at $313.66 in the latest trading session, marking a +0.07% move from the prior day. The stock outpaced the S&P 500's daily loss of 0.04%. Elsewhere, the Dow lost 0.22%, while the tech-heavy Nasdaq added 2.93%.
Prior to today's trading, shares of the investment bank had lost 5.25% over the past month. This has lagged the Finance sector's gain of 3.77% and the S&P 500's gain of 4.22% in that time.
Investors will be hoping for strength from Goldman Sachs as it approaches its next earnings release, which is expected to be July 19, 2023. In that report, analysts expect Goldman Sachs to post earnings of $7.21 per share. This would mark a year-over-year decline of 6.73%. Our most recent consensus estimate is calling for quarterly revenue of $11.77 billion, down 0.82% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $31.18 per share and revenue of $47.55 billion, which would represent changes of +3.73% and +0.38%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Goldman Sachs. These revisions help to show the ever-changing nature of near-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.
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. The Zacks Consensus EPS estimate has moved 2.05% lower within the past month. Goldman Sachs is holding a Zacks Rank of #3 (Hold) right now.
In terms of valuation, Goldman Sachs is currently trading at a Forward P/E ratio of 10.05. This represents a discount compared to its industry's average Forward P/E of 13.32.
We can also see that GS currently has a PEG ratio of 0.85. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Financial - Investment Bank industry currently had an average PEG ratio of 0.85 as of yesterday's close.
The Financial - Investment Bank industry is part of the Finance sector. This group has a Zacks Industry Rank of 219, putting it in the bottom 14% 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) Gains As Market Dips: What You Should Know
Goldman Sachs (GS - Free Report) closed at $313.66 in the latest trading session, marking a +0.07% move from the prior day. The stock outpaced the S&P 500's daily loss of 0.04%. Elsewhere, the Dow lost 0.22%, while the tech-heavy Nasdaq added 2.93%.
Prior to today's trading, shares of the investment bank had lost 5.25% over the past month. This has lagged the Finance sector's gain of 3.77% and the S&P 500's gain of 4.22% in that time.
Investors will be hoping for strength from Goldman Sachs as it approaches its next earnings release, which is expected to be July 19, 2023. In that report, analysts expect Goldman Sachs to post earnings of $7.21 per share. This would mark a year-over-year decline of 6.73%. Our most recent consensus estimate is calling for quarterly revenue of $11.77 billion, down 0.82% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $31.18 per share and revenue of $47.55 billion, which would represent changes of +3.73% and +0.38%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Goldman Sachs. These revisions help to show the ever-changing nature of near-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.
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. The Zacks Consensus EPS estimate has moved 2.05% lower within the past month. Goldman Sachs is holding a Zacks Rank of #3 (Hold) right now.
In terms of valuation, Goldman Sachs is currently trading at a Forward P/E ratio of 10.05. This represents a discount compared to its industry's average Forward P/E of 13.32.
We can also see that GS currently has a PEG ratio of 0.85. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Financial - Investment Bank industry currently had an average PEG ratio of 0.85 as of yesterday's close.
The Financial - Investment Bank industry is part of the Finance sector. This group has a Zacks Industry Rank of 219, putting it in the bottom 14% 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.