Goldman Sachs (GS) Declines More Than Market: Some Information for Investors
Goldman Sachs (GS) closed the latest trading day at $406.82, indicating a -1.67% change from the previous session's end. This change lagged the S&P 500's 0.14% loss on the day. On the other hand, the Dow registered a loss of 0.77%, and the technology-centric Nasdaq increased by 0.17%.
Shares of the investment bank witnessed a gain of 5.95% over the previous month, beating the performance of the Finance sector with its gain of 4.92% and the S&P 500's gain of 5.34%.
Analysts and investors alike will be keeping a close eye on the performance of Goldman Sachs in its upcoming earnings disclosure. The company's earnings report is set to go public on April 15, 2024. The company is expected to report EPS of $8.45, down 3.87% from the prior-year quarter. Alongside, our most recent consensus estimate is anticipating revenue of $12.89 billion, indicating a 5.42% upward movement from the same quarter last year.
GS's full-year Zacks Consensus Estimates are calling for earnings of $32.60 per share and revenue of $50.37 billion. These results would represent year-over-year changes of +42.54% and +8.91%, respectively.
It's also important for investors to be aware of any recent modifications to analyst estimates for Goldman Sachs. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable 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. Within the past 30 days, our consensus EPS projection has moved 0.19% lower. Goldman Sachs currently has a Zacks Rank of #3 (Hold).
Looking at its valuation, Goldman Sachs is holding a Forward P/E ratio of 12.69. This denotes a discount relative to the industry's average Forward P/E of 17.81.
We can also see that GS currently has a PEG ratio of 1.61. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. GS's industry had an average PEG ratio of 1.21 as of yesterday's close.
The Financial - Investment Bank industry is part of the Finance sector. This group has a Zacks Industry Rank of 16, putting it in the top 7% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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The Goldman Sachs Group, Inc. (GS) : Free Stock Analysis Report
