Goldman Sachs (GS) Stock Slides as Market Rises: Facts to Know Before You Trade
The most recent trading session ended with Goldman Sachs (GS) standing at $507.26, reflecting a -0.12% shift from the previouse trading day's closing. The stock trailed the S&P 500, which registered a daily gain of 0.16%. Meanwhile, the Dow gained 0.02%, and the Nasdaq, a tech-heavy index, added 0.16%.
The investment bank's shares have seen an increase of 3.07% over the last month, surpassing the Finance sector's gain of 2.12% and the S&P 500's gain of 2.97%.
Investors will be eagerly watching for the performance of Goldman Sachs in its upcoming earnings disclosure. The company is forecasted to report an EPS of $8.46, showcasing a 54.66% upward movement from the corresponding quarter of the prior year. At the same time, our most recent consensus estimate is projecting a revenue of $12.68 billion, reflecting a 7.29% rise from the equivalent quarter last year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $35.49 per share and a revenue of $51.53 billion, indicating changes of +55.18% and +11.4%, respectively, from the former year.
Investors should also take note of any recent adjustments to analyst estimates for Goldman Sachs. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 2.77% downward. Goldman Sachs is currently sporting a Zacks Rank of #3 (Hold).
Looking at its valuation, Goldman Sachs is holding a Forward P/E ratio of 14.31. This signifies a discount in comparison to the average Forward P/E of 16.42 for its industry.
Meanwhile, GS's PEG ratio is currently 0.79. 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 of the close of trade yesterday, the Financial - Investment Bank industry held an average PEG ratio of 1.11.
The Financial - Investment Bank industry is part of the Finance sector. This industry, currently bearing a Zacks Industry Rank of 103, finds itself in the top 41% echelons 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.
To follow GS in the coming trading sessions, be sure to utilize Zacks.com.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
The Goldman Sachs Group, Inc. (GS) : Free Stock Analysis Report