Brokers Set Expectations for Goldman Sachs Group Inc’s Q3 2018 Earnings (GS)

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Goldman Sachs Group Inc (NYSE:GS) – Equities researchers at Oppenheimer decreased their Q3 2018 earnings per share estimates for shares of Goldman Sachs Group in a research note issued to investors on Tuesday, September 18th. Oppenheimer analyst C. Kotowski now anticipates that the investment management company will post earnings per share of $5.41 for the quarter, down from their previous estimate of $5.75. Oppenheimer currently has a “Outperform” rating and a $335.00 price target on the stock. Oppenheimer also issued estimates for Goldman Sachs Group’s FY2018 earnings at $24.91 EPS.

Goldman Sachs Group (NYSE:GS) last posted its quarterly earnings data on Tuesday, July 17th. The investment management company reported $5.98 earnings per share for the quarter, topping the consensus estimate of $4.66 by $1.32. Goldman Sachs Group had a net margin of 15.72% and a return on equity of 13.58%. The firm had revenue of $9.40 billion for the quarter, compared to analysts’ expectations of $8.74 billion. During the same period in the previous year, the company posted $3.95 EPS. The company’s quarterly revenue was up 19.2% compared to the same quarter last year.

Several other equities analysts have also recently weighed in on GS. JPMorgan Chase & Co. reiterated a “buy” rating and set a $280.00 price objective on shares of Goldman Sachs Group in a research report on Tuesday, June 12th. Zacks Investment Research upgraded shares of Goldman Sachs Group from a “hold” rating to a “buy” rating and set a $260.00 price objective on the stock in a research report on Tuesday, June 19th. ValuEngine cut shares of Goldman Sachs Group from a “hold” rating to a “sell” rating in a research report on Thursday, June 21st. Credit Suisse Group upgraded shares of Goldman Sachs Group from a “neutral” rating to an “outperform” rating in a research report on Tuesday, July 17th. Finally, Keefe, Bruyette & Woods lowered their price objective on shares of Goldman Sachs Group from $260.00 to $255.00 and set a “hold” rating on the stock in a research report on Wednesday, July 18th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $273.69.

NYSE GS opened at $237.40 on Friday. Goldman Sachs Group has a twelve month low of $218.89 and a twelve month high of $275.31. 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 company has a market cap of $88.94 billion, a price-to-earnings ratio of 12.01, a PEG ratio of 0.75 and a beta of 1.27.

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 27th. Stockholders of record on Thursday, August 30th will be issued a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a dividend yield of 1.35%. The ex-dividend date of this dividend is Wednesday, August 29th. Goldman Sachs Group’s dividend payout ratio is currently 16.19%.

In other news, insider David M. Solomon sold 8,382 shares of the business’s stock in a transaction on Wednesday, July 18th. The shares were sold at an average price of $232.08, for a total transaction of $1,945,294.56. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider David M. Solomon sold 8,488 shares of the business’s stock in a transaction on Wednesday, August 1st. The shares were 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. Insiders own 2.57% of the company’s stock.

Institutional investors have recently bought and sold shares of the company. The Manufacturers Life Insurance Company lifted its stake in shares of Goldman Sachs Group by 3.5% in the 1st quarter. The Manufacturers Life Insurance Company now owns 3,519,529 shares of the investment management company’s stock valued at $886,429,000 after purchasing an additional 118,249 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Goldman Sachs Group by 5.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 3,263,236 shares of the investment management company’s stock valued at $719,772,000 after purchasing an additional 175,540 shares during the last quarter. Boston Partners lifted its stake in shares of Goldman Sachs Group by 3.5% in the 2nd quarter. Boston Partners now owns 3,105,353 shares of the investment management company’s stock valued at $684,948,000 after purchasing an additional 103,613 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Goldman Sachs Group by 6.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,738,522 shares of the investment management company’s stock valued at $604,097,000 after purchasing an additional 172,940 shares during the last quarter. Finally, OppenheimerFunds Inc. lifted its stake in shares of Goldman Sachs Group by 9.2% in the 1st quarter. OppenheimerFunds Inc. now owns 1,981,020 shares of the investment management company’s stock valued at $498,940,000 after purchasing an additional 166,434 shares during the last quarter. Institutional investors and hedge funds own 70.96% of the company’s stock.

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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Earnings History and Estimates for Goldman Sachs Group (NYSE:GS)

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