In the latest trading session, Goldman Sachs (GS) closed at $213.94, marking a +1.23% move from the previous day. This change outpaced the S&P 500's 0.46% gain on the day. Meanwhile, the Dow gained 0.9%, and the Nasdaq, a tech-heavy index, added 0.59%.
Prior to today's trading, shares of the investment bank had gained 10.39% over the past month. This has outpaced the Finance sector's gain of 2.79% and the S&P 500's gain of 4.04% in that time.
Investors will be hoping for strength from GS as it approaches its nex t earnings release, which is expected to be July 16, 2019. In tha t report , analysts expect GS to post earnings of $4.82 per share. This would mark a year-over-year decline of 19.4%. Meanwhile, our latest consensus estimate is calling for revenue of $8.66 billion, down 7.89% from the prior-year quarter.
GS's full-year Zacks Consensus Estimates are calling for earnings of $22.01 per share and revenue of $34.74 billion. These results would represent year-over-year changes of -12.9% and -3.93%, respectively.
Investors should also note any recent changes to analyst estimates for GS. These revisions typically reflect the latest short-term business trends, which can change frequently. 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. 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.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 5.08% lower. GS currently has a Zacks Rank of #3 (Hold).
Digging into valuation, GS currently has a Forward P/E ratio of 9.6. For comparison, its industry has an average Forward P/E of 11.7, which means GS is trading at a discount to the group.
It is also worth noting that GS currently has a PEG ratio of 1.43. 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 1.26 at yesterday's closing price.
The Financial - Investment Bank industry is part of the Finance sector. This group has a Zacks Industry Rank of 213, putting it in the bottom 17% 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.
To follow GS in the coming trading sessions, be sure to utilize Zacks.com.
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 reportThe Goldman Sachs Group, Inc. (GS): Free Stock Analysis ReportTo read this article on Zacks.com click here.