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Goldman Sachs Group Inc (NYSE:GS) shares are trading lower by 2.3% to $497.57 during Thursday’s session. The stock is trading lower in sympathy with the broader market following weak U.S. economic data.
Weakness in Boeing Co and chip stocks could also be weighing on markets on Thursday.
Additionally, Fed Chair Jerome Powell's Wednesday remarks intensified the already heightened market speculation that the Fed will initiate its rate cut cycle in September and potentially proceed at a fast pace thereafter.
A potential interest rate cut by the Federal Reserve, as signaled by the FOMC meeting, can compress net interest margins for banks. Goldman Sachs, which has significant exposure to interest rate fluctuations, might see reduced profitability in its lending and fixed income trading operations.
An increase in weekly jobless claims and a contraction in manufacturing activity also signal a potential economic slowdown. For Goldman Sachs, this could mean reduced demand for investment banking services, such as mergers and acquisitions, and initial public offerings, which thrive in strong economic conditions.
A weak manufacturing sector impacts overall economic growth, potentially reducing corporate earnings and investment activities. This can lead to lower revenues from Goldman Sachs' advisory and underwriting services.
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When deciding whether to buy a stock, there are some key fundamentals investors may want to consider. One of these factors is revenue growth. Buying a stock is essentially a bet that the business will continue to grow and generate profits in the future.
Goldman Sachs has reported average annual revenue growth of 7.21% over the past 5 years. .
It's also important to pay attention to valuation when deciding whether to buy a stock. Goldman Sachs Gr has a forward P/E ratio of 14.93. This means investors are paying $14.93 for each dollar of expected earnings in the future. The average forward P/E ratio of Goldman Sachs’ peers is 22.39.
Other important metrics to look at include a company's profitability, balance sheet, performance relative to a benchmark index and valuation compared to peers. For in-depth analysis tools and important financial data, check out Benzinga PRO.
GS has a 52-week high of $517.26 and a 52-week low of $289.36. Share were down 2.1% to $498.44 at the time of publication Thursday.
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Posted In: GS
