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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 $323.82, marking a -1.53% move from the previous day. This change lagged the S&P 500's 1.47% loss on the day. At the same time, the Dow lost 1.14%, and the tech-heavy Nasdaq lost 1.57%.
Prior to today's trading, shares of the investment bank had gained 0.88% over the past month. This has outpaced the Finance sector's loss of 0.32% and the S&P 500's loss of 1.43% in that time.
Investors will be hoping for strength from Goldman Sachs as it approaches its next earnings release, which is expected to be October 17, 2023. On that day, Goldman Sachs is projected to report earnings of $6.81 per share, which would represent a year-over-year decline of 17.45%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $11.53 billion, down 3.74% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $25.55 per share and revenue of $46.01 billion. These totals would mark changes of -15% and -2.86%, 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. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.75% lower. Goldman Sachs is currently a Zacks Rank #4 (Sell).
Investors should also note Goldman Sachs's current valuation metrics, including its Forward P/E ratio of 12.87. Its industry sports an average Forward P/E of 17.06, so we one might conclude that Goldman Sachs is trading at a discount comparatively.
Meanwhile, GS's PEG ratio is currently 1.29. 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 was holding an average PEG ratio of 1.08 at yesterday's closing price.
The Financial - Investment Bank industry is part of the Finance sector. This group has a Zacks Industry Rank of 82, putting it in the top 33% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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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 $323.82, marking a -1.53% move from the previous day. This change lagged the S&P 500's 1.47% loss on the day. At the same time, the Dow lost 1.14%, and the tech-heavy Nasdaq lost 1.57%.
Prior to today's trading, shares of the investment bank had gained 0.88% over the past month. This has outpaced the Finance sector's loss of 0.32% and the S&P 500's loss of 1.43% in that time.
Investors will be hoping for strength from Goldman Sachs as it approaches its next earnings release, which is expected to be October 17, 2023. On that day, Goldman Sachs is projected to report earnings of $6.81 per share, which would represent a year-over-year decline of 17.45%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $11.53 billion, down 3.74% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $25.55 per share and revenue of $46.01 billion. These totals would mark changes of -15% and -2.86%, 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. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.75% lower. Goldman Sachs is currently a Zacks Rank #4 (Sell).
Investors should also note Goldman Sachs's current valuation metrics, including its Forward P/E ratio of 12.87. Its industry sports an average Forward P/E of 17.06, so we one might conclude that Goldman Sachs is trading at a discount comparatively.
Meanwhile, GS's PEG ratio is currently 1.29. 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 was holding an average PEG ratio of 1.08 at yesterday's closing price.
The Financial - Investment Bank industry is part of the Finance sector. This group has a Zacks Industry Rank of 82, putting it in the top 33% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.