Goldman Sachs reports its second quarter earnings that surpassed analysts’ expectations.
The banking behemoth’s earnings for the three months ending June came in at $7.73 a share, handily topping analysts’ expectations of $6.61 a share.
Revenue fell -23% from the year-ago quarter to $11.9 billion, but exceeded analysts’ estimates of $10.7 billion.
The bank’s revenue from the fixed income trading division rose, as yields climbed amidst the Fed’s policy rate hikes. Consumer and wealth management unit had a record revenue of nearly $2.2 billion in the quarter, surging +25% from the year-ago quarter.
“Despite increased volatility and uncertainty, I remain confident in our ability to navigate the environment,” mentioned Goldman Sachs CEO David Solomon in the company’s press statement.
The Moving Average Convergence Divergence (MACD) for GS turned positive on March 21, 2024. Looking at past instances where GS's MACD turned positive, the stock continued to rise in of 41 cases over the following month. The odds of a continued upward trend are .
The Momentum Indicator moved above the 0 level on March 20, 2024. You may want to consider a long position or call options on GS as a result. In of 77 past instances where the momentum indicator moved above 0, the stock continued to climb. The odds of a continued upward trend are .
Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where GS advanced for three days, in of 329 cases, the price rose further within the following month. The odds of a continued upward trend are .
The Aroon Indicator entered an Uptrend today. In of 267 cases where GS Aroon's Indicator entered an Uptrend, the price rose further within the following month. The odds of a continued Uptrend are .
The RSI Indicator has been in the overbought zone for 1 day. Expect a price pull-back in the near future.
The Stochastic Oscillator has been in the overbought zone for 1 day. Expect a price pull-back in the near future.
Following a 3-day decline, the stock is projected to fall further. Considering past instances where GS declined for three days, the price rose further in of 62 cases within the following month. The odds of a continued downward trend are .
GS broke above its upper Bollinger Band on March 20, 2024. This could be a sign that the stock is set to drop as the stock moves back below the upper band and toward the middle band. You may want to consider selling the stock or exploring put options.
The Tickeron SMR rating for this company is (best 1 - 100 worst), indicating very strong sales and a profitable business model. SMR (Sales, Margin, Return on Equity) rating is based on comparative analysis of weighted Sales, Income Margin and Return on Equity values compared against S&P 500 index constituents. The weighted SMR value is a proprietary formula developed by Tickeron and represents an overall profitability measure for a stock.
The Tickeron Profit vs. Risk Rating rating for this company is (best 1 - 100 worst), indicating low risk on high returns. The average Profit vs. Risk Rating rating for the industry is 73, placing this stock better than average.
The Tickeron PE Growth Rating for this company is (best 1 - 100 worst), pointing to outstanding earnings growth. The PE Growth rating is based on a comparative analysis of stock PE ratio increase over the last 12 months compared against S&P 500 index constituents.
The Tickeron Price Growth Rating for this company is (best 1 - 100 worst), indicating outstanding price growth. GS’s price grows at a higher rate over the last 12 months as compared to S&P 500 index constituents.
The Tickeron Seasonality Score of (best 1 - 100 worst) indicates that the company is fair valued in the industry. The Tickeron Seasonality score describes the variance of predictable price changes around the same period every calendar year. These changes can be tied to a specific month, quarter, holiday or vacation period, as well as a meteorological or growing season.
The Tickeron Valuation Rating of (best 1 - 100 worst) indicates that the company is significantly overvalued in the industry. This rating compares market capitalization estimated by our proprietary formula with the current market capitalization. This rating is based on the following metrics, as compared to industry averages: P/B Ratio (1.275) is normal, around the industry mean (5.429). P/E Ratio (18.157) is within average values for comparable stocks, (38.493). Projected Growth (PEG Ratio) (3.297) is also within normal values, averaging (2.632). Dividend Yield (0.026) settles around the average of (0.035) among similar stocks. P/S Ratio (3.105) is also within normal values, averaging (97.990).
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
a provider of investment banking, securities and asset management services
Industry InvestmentBanksBrokers