Wall Street brokerages predict that Goldman Sachs Group Inc (NYSE:GS) will post $8.62 billion in sales for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for Goldman Sachs Group’s earnings. The highest sales estimate is $8.82 billion and the lowest is $8.42 billion. Goldman Sachs Group reported sales of $8.65 billion in the same quarter last year, which indicates a negative year-over-year growth rate of 0.3%. The firm is expected to issue its next earnings results on Tuesday, October 15th.
On average, analysts expect that Goldman Sachs Group will report full year sales of $35.43 billion for the current financial year, with estimates ranging from $34.97 billion to $35.95 billion. For the next financial year, analysts expect that the company will post sales of $36.83 billion, with estimates ranging from $35.81 billion to $38.75 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that cover Goldman Sachs Group.
Goldman Sachs Group (NYSE:GS) last released its earnings results on Tuesday, July 16th. The investment management company reported $5.81 earnings per share for the quarter, topping analysts’ consensus estimates of $4.73 by $1.08. The firm had revenue of $9.46 billion during the quarter, compared to the consensus estimate of $8.88 billion. Goldman Sachs Group had a return on equity of 12.43% and a net margin of 22.09%. The firm’s revenue for the quarter was up .6% compared to the same quarter last year. During the same period in the prior year, the firm posted $5.98 earnings per share.
Several research firms have recently commented on GS. Odeon Capital Group upgraded shares of Goldman Sachs Group from a “hold” rating to a “buy” rating in a report on Thursday, June 20th. TheStreet upgraded shares of Goldman Sachs Group from a “c+” rating to a “b” rating in a report on Tuesday, August 6th. Royal Bank of Canada reaffirmed a “neutral” rating and set a $220.00 price objective on shares of Goldman Sachs Group in a research report on Tuesday, July 16th. Keefe, Bruyette & Woods raised shares of Goldman Sachs Group from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $225.00 to $260.00 in a research report on Friday, July 26th. Finally, Zacks Investment Research raised shares of Goldman Sachs Group from a “sell” rating to a “hold” rating and set a $207.00 price target for the company in a research report on Tuesday, June 25th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the company’s stock. Goldman Sachs Group presently has an average rating of “Hold” and a consensus price target of $240.92.
In other news, EVP Dane E. Holmes sold 3,165 shares of the company’s stock in a transaction on Thursday, July 18th. The shares were sold at an average price of $212.15, for a total value of $671,454.75. The transaction was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 1.41% of the company’s stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Toth Financial Advisory Corp increased its stake in shares of Goldman Sachs Group by 100.0% in the first quarter. Toth Financial Advisory Corp now owns 140 shares of the investment management company’s stock worth $27,000 after buying an additional 70 shares during the period. Alera Investment Advisors LLC raised its position in Goldman Sachs Group by 71.8% in the 1st quarter. Alera Investment Advisors LLC now owns 146 shares of the investment management company’s stock worth $28,000 after buying an additional 61 shares during the last quarter. Next Capital Management LLC purchased a new position in Goldman Sachs Group in the 2nd quarter worth about $28,000. Motco raised its position in Goldman Sachs Group by 146.7% in the 2nd quarter. Motco now owns 148 shares of the investment management company’s stock worth $30,000 after buying an additional 88 shares during the last quarter. Finally, CNB Bank increased its position in shares of Goldman Sachs Group by 108.4% during the 1st quarter. CNB Bank now owns 173 shares of the investment management company’s stock valued at $33,000 after purchasing an additional 90 shares during the last quarter. Hedge funds and other institutional investors own 69.54% of the company’s stock.
NYSE:GS traded up $3.24 during trading hours on Tuesday, hitting $199.42. 1,824,900 shares of the stock traded hands, compared to its average volume of 2,312,395. The firm has a 50 day moving average price of $210.00 and a 200 day moving average price of $200.19. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 2.78. Goldman Sachs Group has a fifty-two week low of $151.70 and a fifty-two week high of $245.08. The firm has a market cap of $70.54 billion, a price-to-earnings ratio of 7.89, a PEG ratio of 0.72 and a beta of 1.32.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, August 30th will be issued a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 2.51%. This is a positive change from Goldman Sachs Group’s previous quarterly dividend of $0.85. The ex-dividend date is Thursday, August 29th. Goldman Sachs Group’s payout ratio is presently 13.45%.
Goldman Sachs Group Company Profile
The Goldman Sachs Group, Inc operates as an investment banking, securities, and investment management company worldwide. It operates in four segments: Investment Banking, Institutional Client Services, Investing & Lending, and Investment Management. The Investment Banking segment provides financial advisory services, including strategic advisory assignments related to mergers and acquisitions, divestitures, corporate defense activities, restructurings, spin-offs, and risk management; and underwriting services, such as debt and equity underwriting of public offerings and private placements of various securities and other financial instruments, as well as derivative transactions with public and private sector clients.
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