Goldman Sachs stock holds steady as Morgan Stanley trims EPS forecasts

Published on 09/20/2026 at 13:27 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Goldman Sachs stock closed at USD 942.00 on September 18, 2026, giving the bank a price-earnings ratio of 14.35 based on trailing EPS of USD 69.89. Morgan Stanley cut its Q3 2026 EPS forecast by 11.3 percent to USD 13.76 on September 20, 2026, but kept an Equal-Weight rating with a USD 1,145 target price.

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Goldman Sachs Group Inc. stock (ISIN US38141G1040) is trading around a trailing price-earnings ratio of 14.35, based on a closing price of USD 942.00 on September 18, 2026 and trailing twelve-month earnings per share of USD 69.89, according to data compiled from SEC filings.

Morgan Stanley trims EPS but keeps high target

According to Futunn on September 20, 2026, Morgan Stanley lowered its earnings-per-share forecast for Goldman Sachs for the third quarter of 2026 by 11.3 percent to USD 13.76, reflecting higher non-compensation expenses, rising compensation costs, softer investment banking revenue and higher provisions partly offset by stronger FICC revenue and a lower tax rate.

The same report states that Morgan Stanley cut its forecast for Goldman Sachs fiscal year 2026 EPS by USD 2.46, or 3.5 percent, to USD 67.75, and marginally reduced its fiscal year 2027 EPS forecast by USD 0.33, or 0.4 percent, to USD 73.56, while maintaining an Equal-Weight rating and a USD 1,145 price target that implies a projected 2027 price-earnings multiple of 15.5 times, above the sector average.Futunn

Valuation and earnings context

Stock portal data indicate that Goldman Sachs shares closed at USD 942.00 on the New York Stock Exchange on September 18, 2026, down USD 9.47 or 1.0 percent from the previous close, giving the bank a trailing price-earnings ratio of 14.35 based on trailing twelve-month EPS of USD 69.89.StockMarketRanks

The same valuation overview shows that the current PE ratio of 14.35 is about 10.2 percent above the five-year average multiple of 13.0, suggesting that the market is today paying a modest premium to the bank’s recent historical valuation for its earnings stream.StockMarketRanks

Stock level remains below Morgan Stanley target

With Goldman Sachs stock at USD 942.00 as of September 18, 2026 and Morgan Stanley’s price target standing at USD 1,145, the implied upside from the current level to that target is around 21.6 percent based on these figures, highlighting that the broker’s cautious EPS revisions still come with a relatively optimistic longer-term valuation view.Futunn

For investors, the tension between a higher-than-average current PE multiple of 14.35 and the downward EPS revisions for 2026 and 2027 is central: the market today is pricing Goldman Sachs somewhat above its five-year valuation norm, while Morgan Stanley is signaling that near-term earnings may be under pressure from costs and softer investment banking activity even as it expects the bank to merit a sector-leading 2027 valuation.

Goldman Sachs stock price snapshot

Goldman Sachs stock last closed at USD 942.00 on the New York Stock Exchange on September 18, 2026, with the price data underpinning a trailing twelve-month EPS of USD 69.89 and a PE ratio of 14.35 in United States dollars; this New York closing level serves as the current reference point for the shares in this article.StockMarketRanks