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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 $326.19, marking a -0.76% move from the previous day. This change lagged the S&P 500's 0.1% loss on the day. At the same time, the Dow added 0.33%, and the tech-heavy Nasdaq lost 5.8%.
Prior to today's trading, shares of the investment bank had lost 3.26% over the past month. This has lagged the Finance sector's gain of 3.18% and the S&P 500's gain of 3.39% in that time.
Wall Street will be looking for positivity from Goldman Sachs as it approaches its next earnings report date. This is expected to be July 19, 2023. In that report, analysts expect Goldman Sachs to post earnings of $3.25 per share. This would mark a year-over-year decline of 57.96%. Meanwhile, our latest consensus estimate is calling for revenue of $10.79 billion, down 9.09% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $25.74 per share and revenue of $46.2 billion. These totals would mark changes of -14.37% and -2.45%, respectively, from last year.
Any recent changes to analyst estimates for Goldman Sachs should also be noted by investors. 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.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
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 18.48% lower. Goldman Sachs is currently a Zacks Rank #3 (Hold).
Digging into valuation, Goldman Sachs currently has a Forward P/E ratio of 12.77. This represents a discount compared to its industry's average Forward P/E of 14.74.
Also, we should mention that GS has a PEG ratio of 1.41. 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. The Financial - Investment Bank industry currently had an average PEG ratio of 1.41 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 224, which puts it in the bottom 12% 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) Dips More Than Broader Markets: What You Should Know
In the latest trading session, Goldman Sachs (GS - Free Report) closed at $326.19, marking a -0.76% move from the previous day. This change lagged the S&P 500's 0.1% loss on the day. At the same time, the Dow added 0.33%, and the tech-heavy Nasdaq lost 5.8%.
Prior to today's trading, shares of the investment bank had lost 3.26% over the past month. This has lagged the Finance sector's gain of 3.18% and the S&P 500's gain of 3.39% in that time.
Wall Street will be looking for positivity from Goldman Sachs as it approaches its next earnings report date. This is expected to be July 19, 2023. In that report, analysts expect Goldman Sachs to post earnings of $3.25 per share. This would mark a year-over-year decline of 57.96%. Meanwhile, our latest consensus estimate is calling for revenue of $10.79 billion, down 9.09% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $25.74 per share and revenue of $46.2 billion. These totals would mark changes of -14.37% and -2.45%, respectively, from last year.
Any recent changes to analyst estimates for Goldman Sachs should also be noted by investors. 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.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
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 18.48% lower. Goldman Sachs is currently a Zacks Rank #3 (Hold).
Digging into valuation, Goldman Sachs currently has a Forward P/E ratio of 12.77. This represents a discount compared to its industry's average Forward P/E of 14.74.
Also, we should mention that GS has a PEG ratio of 1.41. 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. The Financial - Investment Bank industry currently had an average PEG ratio of 1.41 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 224, which puts it in the bottom 12% 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.