Goldman Sachs (GS) Stock Moves -0.87%: What You Should Know
In the latest trading session, Goldman Sachs (GS) closed at $576.18, marking a -0.87% move from the previous day. This change was narrower than the S&P 500’s daily loss of 1.11%. At the same time, the Dow lost 0.77%, and the tech-heavy Nasdaq lost 1.49%.
Heading into today, shares of the investment bank had lost 4% over the past month, outpacing the Finance sector’s loss of 4.01% and lagging the S&P 500’s gain of 0.4% in that time.
The investment community will be closely monitoring the performance of Goldman Sachs in its forthcoming earnings report. The company’s upcoming EPS is projected at $7.94, signifying a 44.89% increase compared to the same quarter of the previous year. Meanwhile, our latest consensus estimate is calling for revenue of $12.06 billion, up 6.58% from the prior-year quarter.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $37.05 per share and a revenue of $51.66 billion, indicating changes of +62% and +11.68%, respectively, from the former year.
Investors might also notice recent changes to analyst estimates for Goldman Sachs. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As such, positive estimate revisions reflect analyst optimism about the company’s business and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending 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, 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 0.28% downward. Goldman Sachs currently has a Zacks Rank of #3 (Hold).
Digging into valuation, Goldman Sachs currently has a Forward P/E ratio of 15.69. This expresses a discount compared to the average Forward P/E of 16.95 of its industry.
One should further note that GS currently holds a PEG ratio of 0.8. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company’s anticipated earnings growth rate. As the market closed yesterday, the Financial – Investment Bank industry was having an average PEG ratio of 1.39.
The Financial – Investment Bank industry is part of the Finance sector. At present, this industry carries a Zacks Industry Rank of 42, placing it within the top 17% of over 250 industries.
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