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Goldman Sachs (GS) closed at $293.18 in the latest trading session, marking a -1.11% move from the prior day. This move was narrower than the S&P 500's daily loss of 1.15%. At the same time, the Dow lost 0.52%, and the tech-heavy Nasdaq lost 0.34%.
Heading into today, shares of the investment bank had gained 3.29% over the past month, outpacing the Finance sector's loss of 7.08% and the S&P 500's loss of 5.08% in that time.
Wall Street will be looking for positivity from Goldman Sachs as it approaches its next earnings report date. This is expected to be July 18, 2022. In that report, analysts expect Goldman Sachs to post earnings of $7.45 per share. This would mark a year-over-year decline of 50.4%. Our most recent consensus estimate is calling for quarterly revenue of $11.32 billion, down 26.41% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $35.65 per share and revenue of $47.22 billion. These totals would mark changes of -40.03% and -20.43%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for Goldman Sachs. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
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 5.08% lower. Goldman Sachs is currently a Zacks Rank #3 (Hold).
Valuation is also important, so investors should note that Goldman Sachs has a Forward P/E ratio of 8.32 right now. Its industry sports an average Forward P/E of 10.81, so we one might conclude that Goldman Sachs is trading at a discount comparatively.
Also, we should mention that GS has a PEG ratio of 0.65. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Financial - Investment Bank was holding an average PEG ratio of 0.74 at yesterday's closing price.
The Financial - Investment Bank industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 148, which puts it in the bottom 42% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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
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