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Oct 18, 2022

Goldman Sachs (GS, $306.81) beats Q3 earnings expectations

Goldman Sachs Group  posted third quarter earnings that exceeded expectations. The banking behemoth also announced plans to restructure its business divisions.

Goldman’s earnings for the three months ending in September fell -44.7% from the year-ago quarter to $8.25per share, topping the Street expectations of $7.69 per share.

Revenues fell -12% year-over-year to $11.98 billion, compared to analysts' forecasts of  $11.41 billion. Investment banking revenues plunged -57% year-over-year to $1.58 billion, while global markets revenues grew +10.5% to $6.2 billion.

The company also unveiled restricting plans, so that its business reporting would have three separate divisions, down from four, that include asset and wealth management, global banking and markets and platform solutions.

Related Ticker: GS

GS sees its Stochastic Oscillator ascending out of oversold territory

On October 04, 2024, the Stochastic Oscillator for GS moved out of oversold territory and this could be a bullish sign for the stock. Traders may want to buy the stock or buy call options. Tickeron's A.I.dvisor looked at 51 instances where the indicator left the oversold zone. In of the 51 cases the stock moved higher in the following days. This puts the odds of a move higher at over .

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Notable companies

The most notable companies in this group are Morgan Stanley (NYSE:MS), Goldman Sachs Group (NYSE:GS), Charles Schwab Corp (The) (NYSE:SCHW), CME Group (NASDAQ:CME).

Industry description

These banks specialize in underwriting (helping companies with debt financing or equity issuances), IPOs, facilitating mergers and other corporate reorganizations and acting as a broker or financial advisor for institutions. They might also trade securities on their own accounts. Investment banks potentially thrive on expanding its network of clients, since that could help them increase profits. Goldman Sachs, Morgan Stanley and CME Group Inc are some of the largest investment banking companies.

Market Cap

The average market capitalization across the Investment Banks/Brokers Industry is 11.33B. The market cap for tickers in the group ranges from 13 to 928.5B. PKRSF holds the highest valuation in this group at 928.5B. The lowest valued company is BFCH at 13.

High and low price notable news

The average weekly price growth across all stocks in the Investment Banks/Brokers Industry was 1%. For the same Industry, the average monthly price growth was 11%, and the average quarterly price growth was 13%. TIGR experienced the highest price growth at 171%, while PIHG experienced the biggest fall at -99%.

Volume

The average weekly volume growth across all stocks in the Investment Banks/Brokers Industry was 20%. For the same stocks of the Industry, the average monthly volume growth was 74% and the average quarterly volume growth was 73%

Fundamental Analysis Ratings

The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows

Valuation Rating: 60
P/E Growth Rating: 68
Price Growth Rating: 51
SMR Rating: 65
Profit Risk Rating: 70
Seasonality Score: 16 (-100 ... +100)
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General Information

a provider of investment banking, securities and asset management services

Industry InvestmentBanksBrokers

Profile
Fundamentals
Details
Industry
Investment Banks Or Brokers
Address
200 West Street
Phone
+1 212 902-1000
Employees
45300
Web
https://www.goldmansachs.com
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