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Goldman Sachs (GS) Stock Drops Despite Market Gains: Important Facts to Note
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The most recent trading session ended with Goldman Sachs (GS - Free Report) standing at $388.10, reflecting a -0.24% shift from the previouse trading day's closing. This change lagged the S&P 500's daily gain of 0.8%. Elsewhere, the Dow saw an upswing of 0.23%, while the tech-heavy Nasdaq appreciated by 1.14%.
Coming into today, shares of the investment bank had gained 1.35% in the past month. In that same time, the Finance sector gained 3.96%, while the S&P 500 gained 5.2%.
Investors will be eagerly watching for the performance of Goldman Sachs in its upcoming earnings disclosure. The company's upcoming EPS is projected at $8.62, signifying a 1.93% drop compared to the same quarter of the previous year. Simultaneously, our latest consensus estimate expects the revenue to be $13.05 billion, showing a 6.75% escalation compared to the year-ago quarter.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $32.86 per share and a revenue of $50.49 billion, indicating changes of +43.68% and +9.16%, respectively, from the former year.
Investors might also notice recent changes to analyst estimates for Goldman Sachs. Recent revisions tend to reflect the latest near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 1.05% higher. Goldman Sachs currently has a Zacks Rank of #3 (Hold).
Looking at valuation, Goldman Sachs is presently trading at a Forward P/E ratio of 11.84. This valuation marks a discount compared to its industry's average Forward P/E of 16.9.
One should further note that GS currently holds a PEG ratio of 1.51. 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 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 39, which puts it in the top 16% of all 250+ industries.
The Zacks Industry Rank is ordered 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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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Goldman Sachs (GS) Stock Drops Despite Market Gains: Important Facts to Note
The most recent trading session ended with Goldman Sachs (GS - Free Report) standing at $388.10, reflecting a -0.24% shift from the previouse trading day's closing. This change lagged the S&P 500's daily gain of 0.8%. Elsewhere, the Dow saw an upswing of 0.23%, while the tech-heavy Nasdaq appreciated by 1.14%.
Coming into today, shares of the investment bank had gained 1.35% in the past month. In that same time, the Finance sector gained 3.96%, while the S&P 500 gained 5.2%.
Investors will be eagerly watching for the performance of Goldman Sachs in its upcoming earnings disclosure. The company's upcoming EPS is projected at $8.62, signifying a 1.93% drop compared to the same quarter of the previous year. Simultaneously, our latest consensus estimate expects the revenue to be $13.05 billion, showing a 6.75% escalation compared to the year-ago quarter.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $32.86 per share and a revenue of $50.49 billion, indicating changes of +43.68% and +9.16%, respectively, from the former year.
Investors might also notice recent changes to analyst estimates for Goldman Sachs. Recent revisions tend to reflect the latest near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 1.05% higher. Goldman Sachs currently has a Zacks Rank of #3 (Hold).
Looking at valuation, Goldman Sachs is presently trading at a Forward P/E ratio of 11.84. This valuation marks a discount compared to its industry's average Forward P/E of 16.9.
One should further note that GS currently holds a PEG ratio of 1.51. 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 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 39, which puts it in the top 16% of all 250+ industries.
The Zacks Industry Rank is ordered 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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.