Goldman Sachs (GS) Outperforms Broader Market: What You Need to Know

Goldman Sachs (GS) closed at $585.94 in the latest trading session, marking a +1.01% move from the prior day. The stock outperformed the S&P 500, which registered a daily gain of 0.16%. At the same time, the Dow added 0.01%, and the tech-heavy Nasdaq gained 0.46%.The investment bank's stock has dropped by 7.35% in the past month, falling short of the Finance sector's loss of 0.19% and the S&P 500's loss of 3.59%.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 $12.57, showcasing an 8.55% upward movement from the corresponding quarter of the prior year. At the same time, our most recent consensus estimate is projecting a revenue of $15.23 billion, reflecting a 7.16% rise from the equivalent quarter last year.In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $46.13 per share and a revenue of $56.98 billion, indicating changes of +13.79% and +6.48%, respectively, from the former year.Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Goldman Sachs. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.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, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 2.1% lower. Goldman Sachs currently has a Zacks Rank of #3 (Hold).In terms of valuation, Goldman Sachs is presently being traded at a Forward P/E ratio of 12.57. For comparison, its industry has an average Forward P/E of 15.29, which means Goldman Sachs is trading at a discount to the group.We can also see that GS currently has a PEG ratio of 0.82. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The average PEG ratio for the Financial - Investment Bank industry stood at 1.09 at the close of the market yesterday.The Financial - Investment Bank industry is part of the Finance sector. With its current Zacks Industry Rank of 36, this industry ranks in the top 15% of all industries, numbering over 250.The Zacks Industry Rank gauges the strength of our 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.To follow GS in the coming trading sessions, be sure to utilize Zacks.com.5 Stocks Set to DoubleEach was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2024. While not all picks can be winners, previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%.Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.Today, See These 5 Potential Home Runs >>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 ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks