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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 the latest trading day at $479.23, indicating a +0.07% change from the previous session's end. The stock's change was more than the S&P 500's daily loss of 0.88%. Elsewhere, the Dow saw an upswing of 0.08%, while the tech-heavy Nasdaq depreciated by 1.95%.
Heading into today, shares of the investment bank had gained 6.73% over the past month, outpacing the Finance sector's loss of 4.28% and the S&P 500's gain of 5.11% in that time.
Market participants will be closely following the financial results of Goldman Sachs in its upcoming release. The company plans to announce its earnings on July 15, 2024. The company's upcoming EPS is projected at $8.70, signifying a 182.47% increase compared to the same quarter of the previous year. Our most recent consensus estimate is calling for quarterly revenue of $12.68 billion, up 16.42% from the year-ago period.
For the full year, the Zacks Consensus Estimates project earnings of $36.70 per share and a revenue of $51.58 billion, demonstrating changes of +60.47% and +11.52%, respectively, from the preceding year.
Investors might also notice recent changes to analyst estimates for Goldman Sachs. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. 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.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 0.35% higher. Goldman Sachs is holding a Zacks Rank of #3 (Hold) right now.
Looking at valuation, Goldman Sachs is presently trading at a Forward P/E ratio of 13.05. This indicates a discount in contrast to its industry's Forward P/E of 17.75.
Investors should also note that GS has a PEG ratio of 0.97 right now. 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. By the end of yesterday's trading, the Financial - Investment Bank industry had an average PEG ratio of 1.17.
The Financial - Investment Bank industry is part of the Finance sector. Currently, this industry holds a Zacks Industry Rank of 101, positioning it in the top 41% 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.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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Goldman Sachs (GS) Gains As Market Dips: What You Should Know
Goldman Sachs (GS - Free Report) closed the latest trading day at $479.23, indicating a +0.07% change from the previous session's end. The stock's change was more than the S&P 500's daily loss of 0.88%. Elsewhere, the Dow saw an upswing of 0.08%, while the tech-heavy Nasdaq depreciated by 1.95%.
Heading into today, shares of the investment bank had gained 6.73% over the past month, outpacing the Finance sector's loss of 4.28% and the S&P 500's gain of 5.11% in that time.
Market participants will be closely following the financial results of Goldman Sachs in its upcoming release. The company plans to announce its earnings on July 15, 2024. The company's upcoming EPS is projected at $8.70, signifying a 182.47% increase compared to the same quarter of the previous year. Our most recent consensus estimate is calling for quarterly revenue of $12.68 billion, up 16.42% from the year-ago period.
For the full year, the Zacks Consensus Estimates project earnings of $36.70 per share and a revenue of $51.58 billion, demonstrating changes of +60.47% and +11.52%, respectively, from the preceding year.
Investors might also notice recent changes to analyst estimates for Goldman Sachs. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. 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.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 0.35% higher. Goldman Sachs is holding a Zacks Rank of #3 (Hold) right now.
Looking at valuation, Goldman Sachs is presently trading at a Forward P/E ratio of 13.05. This indicates a discount in contrast to its industry's Forward P/E of 17.75.
Investors should also note that GS has a PEG ratio of 0.97 right now. 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. By the end of yesterday's trading, the Financial - Investment Bank industry had an average PEG ratio of 1.17.
The Financial - Investment Bank industry is part of the Finance sector. Currently, this industry holds a Zacks Industry Rank of 101, positioning it in the top 41% 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.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.