Yahoo Finance Goldman Sachs (GS) Ascends But Remains Behind Market: Some Facts to Note
Goldman Sachs (GS) ended the recent trading session at $455.30, demonstrating a +0.07% swing from the preceding day's closing price. This move lagged the S&P 500's daily gain of 0.15%. Elsewhere, the Dow gained 0.36%, while the tech-heavy Nasdaq added 0.17%.
The investment bank's shares have seen an increase of 2.55% over the last month, not keeping up with the Finance sector's gain of 2.64% and the S&P 500's gain of 3.2%.
The investment community will be paying close attention to the earnings performance of Goldman Sachs in its upcoming release. The company is slated to reveal its earnings on July 15, 2024. The company is predicted to post an EPS of $8.87, indicating a 187.99% growth compared to the equivalent quarter last year. Simultaneously, our latest consensus estimate expects the revenue to be $12.76 billion, showing a 17.12% escalation compared to the year-ago quarter.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $36.57 per share and revenue of $51.71 billion. These totals would mark changes of +59.9% and +11.81%, respectively, from last year.
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.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable 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. The Zacks Consensus EPS estimate has moved 1.4% higher within the past month. Goldman Sachs presently features a Zacks Rank of #1 (Strong Buy).
Digging into valuation, Goldman Sachs currently has a Forward P/E ratio of 12.44. This indicates a discount in contrast to its industry's Forward P/E of 18.08.
We can also see that GS currently has a PEG ratio of 0.92. 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 industry currently had an average PEG ratio of 1.14 as of yesterday's close.
The Financial - Investment Bank industry is part of the Finance sector. With its current Zacks Industry Rank of 12, this industry ranks in the top 5% of all industries, numbering over 250.
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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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The Goldman Sachs Group, Inc. (GS) : Free Stock Analysis Report
