- Oops!Something went wrong.Please try again later.
Goldman Sachs (GS) closed at $326.85 in the latest trading session, marking a -0.53% move from the prior day. This change was narrower than the S&P 500's 0.63% loss on the day. At the same time, the Dow lost 0.67%, and the tech-heavy Nasdaq lost 0.15%.
Prior to today's trading, shares of the investment bank had gained 5.85% over the past month. This has outpaced the Finance sector's gain of 2.05% and the S&P 500's gain of 0.89% in that time.
Investors will be hoping for strength from Goldman Sachs as it approaches its next earnings release. The company is expected to report EPS of $8.38, down 44.21% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $11.46 billion, down 25.52% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $37.70 per share and revenue of $47.73 billion, which would represent changes of -36.59% and -19.57%, respectively, from the prior year.
Investors might also notice recent changes 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. 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.78% lower. Goldman Sachs is currently sporting a Zacks Rank of #3 (Hold).
Digging into valuation, Goldman Sachs currently has a Forward P/E ratio of 8.72. This valuation marks a discount compared to its industry's average Forward P/E of 11.82.
We can also see that GS currently has a PEG ratio of 0.68. 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. GS's industry had an average PEG ratio of 0.8 as of yesterday's close.
The Financial - Investment Bank industry is part of the Finance sector. This group has a Zacks Industry Rank of 232, putting it in the bottom 8% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within 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.
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
To read this article on Zacks.com click here.