Goldman Sachs and Morgan Stanley are reporting third-quarter results this week amid significant upward revisions to earnings estimates by analysts. Goldman Sachs shows the strongest momentum, with its earnings per share estimate revised up by more than 300% over three months and 59% over six months, driven notably by its role in SpaceX’s record-breaking IPO in June. Morgan Stanley has also seen its estimates surge by 144% over three months and 73% over six months, after posting a 69% increase in equities trading revenue in the second quarter. Analysts expect Goldman Sachs to earn $13.07 per share in the third quarter with 18% upside potential based on the average price target, compared to $2.94 and 15% upside for Morgan Stanley. A total of 25 S&P 500 companies are scheduled to report this week.
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