Brokerages Anticipate Goldman Sachs Group Inc (GS) to Post $5.80 EPS

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Equities research analysts predict that Goldman Sachs Group Inc (NYSE:GS) will announce earnings of $5.80 per share for the current fiscal quarter, Zacks reports. Two analysts have made estimates for Goldman Sachs Group’s earnings. The lowest EPS estimate is $5.65 and the highest is $6.05. Goldman Sachs Group posted earnings of $5.02 per share during the same quarter last year, which indicates a positive year over year growth rate of 15.5%. The business is scheduled to announce its next quarterly earnings results on Tuesday, October 16th.

According to Zacks, analysts expect that Goldman Sachs Group will report full-year earnings of $24.99 per share for the current fiscal year, with EPS estimates ranging from $24.00 to $25.65. For the next year, analysts forecast that the company will report earnings of $25.70 per share, with EPS estimates ranging from $23.12 to $27.19. Zacks’ EPS averages are a mean average based on a survey of analysts that that provide coverage for Goldman Sachs Group.

Goldman Sachs Group (NYSE:GS) last posted its quarterly earnings data on Tuesday, July 17th. The investment management company reported $5.98 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $4.66 by $1.32. The firm had revenue of $9.40 billion during the quarter, compared to analyst estimates of $8.74 billion. Goldman Sachs Group had a net margin of 15.72% and a return on equity of 13.58%. The company’s revenue for the quarter was up 19.2% on a year-over-year basis. During the same quarter last year, the business posted $3.95 EPS.

Several equities research analysts have commented on the stock. ValuEngine lowered shares of Goldman Sachs Group from a “hold” rating to a “sell” rating in a research note on Thursday, June 21st. Societe Generale raised shares of Goldman Sachs Group from a “sell” rating to a “hold” rating in a research report on Wednesday, July 18th. Zacks Investment Research downgraded shares of Goldman Sachs Group from a “buy” rating to a “hold” rating in a research report on Monday, July 9th. JPMorgan Chase & Co. reissued a “buy” rating and set a $280.00 target price on shares of Goldman Sachs Group in a research report on Tuesday, July 17th. Finally, Oppenheimer increased their target price on shares of Goldman Sachs Group from $304.00 to $335.00 and gave the company an “outperform” rating in a research report on Wednesday, July 18th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and ten have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $273.41.

In related news, insider David M. Solomon sold 8,382 shares of the firm’s stock in a transaction that occurred on Wednesday, July 18th. The shares were sold at an average price of $232.08, for a total value of $1,945,294.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider David M. Solomon sold 8,488 shares of the firm’s stock in a transaction that occurred on Wednesday, August 1st. The stock was sold at an average price of $237.92, for a total transaction of $2,019,464.96. The disclosure for this sale can be found here. 2.57% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Moneta Group Investment Advisors LLC lifted its stake in Goldman Sachs Group by 7,719.0% in the 2nd quarter. Moneta Group Investment Advisors LLC now owns 23,457 shares of the investment management company’s stock worth $104,000 after purchasing an additional 23,157 shares in the last quarter. Zions Bancorporation purchased a new stake in Goldman Sachs Group in the 2nd quarter worth approximately $109,000. First Mercantile Trust Co. purchased a new stake in Goldman Sachs Group in the 2nd quarter worth approximately $110,000. Crewe Advisors LLC lifted its stake in Goldman Sachs Group by 65.5% in the 1st quarter. Crewe Advisors LLC now owns 581 shares of the investment management company’s stock worth $146,000 after purchasing an additional 230 shares in the last quarter. Finally, Mitsubishi UFJ Securities Holdings Co. Ltd. purchased a new stake in Goldman Sachs Group in the 1st quarter worth approximately $151,000. 71.04% of the stock is owned by institutional investors.

NYSE:GS traded down $2.15 on Friday, hitting $239.25. The stock had a trading volume of 80,586 shares, compared to its average volume of 2,623,296. The company has a debt-to-equity ratio of 3.02, a quick ratio of 0.90 and a current ratio of 0.90. The firm has a market cap of $91.60 billion, a price-to-earnings ratio of 12.18, a price-to-earnings-growth ratio of 0.77 and a beta of 1.31. Goldman Sachs Group has a 1 year low of $214.64 and a 1 year high of $275.31.

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 27th. Stockholders of record on Thursday, August 30th will be given a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.34%. The ex-dividend date of this dividend is Wednesday, August 29th. Goldman Sachs Group’s dividend payout ratio is currently 16.19%.

Goldman Sachs Group Company Profile

The Goldman Sachs Group, Inc operates as an investment banking, securities, and investment management company worldwide. It operates through 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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