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Why Goldman Sachs (GS) Outpaced the Stock Market Today
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The most recent trading session ended with Goldman Sachs (GS - Free Report) standing at $472.83, reflecting a +1.72% shift from the previouse trading day's closing. The stock exceeded the S&P 500, which registered a gain of 0.07% for the day. Meanwhile, the Dow experienced a drop of 0.13%, and the technology-dominated Nasdaq saw an increase of 0.14%.
The the stock of investment bank has risen by 2.48% in the past month, leading the Finance sector's loss of 5.5% and undershooting the S&P 500's gain of 4.34%.
The upcoming earnings release of Goldman Sachs will be of great interest to investors. The company's earnings report is expected on July 15, 2024. It is anticipated that the company will report an EPS of $8.70, marking a 182.47% rise compared to the same quarter of the previous year. At the same time, our most recent consensus estimate is projecting a revenue of $12.68 billion, reflecting a 16.42% rise from the equivalent quarter last year.
For the full year, the Zacks Consensus Estimates project earnings of $36.63 per share and a revenue of $51.58 billion, demonstrating changes of +60.17% and +11.52%, respectively, from the preceding year.
Investors might also notice recent changes to analyst estimates for Goldman Sachs. These revisions typically reflect the latest short-term business trends, which can change frequently. 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 utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional 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. Over the past month, the Zacks Consensus EPS estimate has shifted 0.16% upward. Goldman Sachs currently has a Zacks Rank of #3 (Hold).
In terms of valuation, Goldman Sachs is currently trading at a Forward P/E ratio of 12.69. For comparison, its industry has an average Forward P/E of 17.77, which means Goldman Sachs is trading at a discount to the group.
One should further note that GS currently holds a PEG ratio of 0.94. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Financial - Investment Bank industry currently had an average PEG ratio of 1.13 as of yesterday's close.
The Financial - Investment Bank industry is part of the Finance sector. This group has a Zacks Industry Rank of 71, putting it in the top 29% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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Why Goldman Sachs (GS) Outpaced the Stock Market Today
The most recent trading session ended with Goldman Sachs (GS - Free Report) standing at $472.83, reflecting a +1.72% shift from the previouse trading day's closing. The stock exceeded the S&P 500, which registered a gain of 0.07% for the day. Meanwhile, the Dow experienced a drop of 0.13%, and the technology-dominated Nasdaq saw an increase of 0.14%.
The the stock of investment bank has risen by 2.48% in the past month, leading the Finance sector's loss of 5.5% and undershooting the S&P 500's gain of 4.34%.
The upcoming earnings release of Goldman Sachs will be of great interest to investors. The company's earnings report is expected on July 15, 2024. It is anticipated that the company will report an EPS of $8.70, marking a 182.47% rise compared to the same quarter of the previous year. At the same time, our most recent consensus estimate is projecting a revenue of $12.68 billion, reflecting a 16.42% rise from the equivalent quarter last year.
For the full year, the Zacks Consensus Estimates project earnings of $36.63 per share and a revenue of $51.58 billion, demonstrating changes of +60.17% and +11.52%, respectively, from the preceding year.
Investors might also notice recent changes to analyst estimates for Goldman Sachs. These revisions typically reflect the latest short-term business trends, which can change frequently. 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 utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional 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. Over the past month, the Zacks Consensus EPS estimate has shifted 0.16% upward. Goldman Sachs currently has a Zacks Rank of #3 (Hold).
In terms of valuation, Goldman Sachs is currently trading at a Forward P/E ratio of 12.69. For comparison, its industry has an average Forward P/E of 17.77, which means Goldman Sachs is trading at a discount to the group.
One should further note that GS currently holds a PEG ratio of 0.94. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Financial - Investment Bank industry currently had an average PEG ratio of 1.13 as of yesterday's close.
The Financial - Investment Bank industry is part of the Finance sector. This group has a Zacks Industry Rank of 71, putting it in the top 29% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.