Brokerages predict that Goldman Sachs Group Inc (NYSE:GS) will report sales of $7.79 billion for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for Goldman Sachs Group’s earnings. The lowest sales estimate is $7.62 billion and the highest is $7.92 billion. Goldman Sachs Group reported sales of $8.17 billion in the same quarter last year, which indicates a negative year-over-year growth rate of 4.7%. The business is scheduled to announce its next earnings report before the market opens on Wednesday, January 17th.
According to Zacks, analysts expect that Goldman Sachs Group will report full-year sales of $7.79 billion for the current financial year, with estimates ranging from $31.69 billion to $32.16 billion. For the next fiscal year, analysts forecast that the firm will report sales of $32.68 billion per share, with estimates ranging from $31.98 billion to $33.16 billion. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that cover Goldman Sachs Group.
Goldman Sachs Group (NYSE:GS) last issued its earnings results on Tuesday, October 17th. The investment management company reported $5.02 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $4.17 by $0.85. Goldman Sachs Group had a return on equity of 11.34% and a net margin of 26.42%. The business had revenue of $8.33 billion during the quarter, compared to analysts’ expectations of $7.59 billion. During the same period in the prior year, the firm posted $4.88 EPS. Goldman Sachs Group’s quarterly revenue was up 2.0% compared to the same quarter last year.
A number of equities research analysts recently weighed in on the company. Vertical Group raised Goldman Sachs Group from a “hold” rating to a “buy” rating in a report on Friday. Zacks Investment Research cut Goldman Sachs Group from a “buy” rating to a “hold” rating in a report on Wednesday, December 20th. Wells Fargo & Co reaffirmed an “outperform” rating and set a $295.00 price target (up from $265.00) on shares of Goldman Sachs Group in a report on Wednesday, December 20th. Bank of America raised their price target on Goldman Sachs Group from $290.00 to $300.00 and gave the company a “buy” rating in a report on Thursday, December 7th. Finally, JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of Goldman Sachs Group in a report on Monday, November 20th. Two analysts have rated the stock with a sell rating, seventeen have issued a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $248.24.
In other news, insider David M. Solomon sold 12,707 shares of Goldman Sachs Group stock in a transaction on Friday, November 24th. The stock was sold at an average price of $237.94, for a total value of $3,023,503.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Vice Chairman Richard J. Gnodde sold 4,951 shares of the firm’s stock in a transaction on Wednesday, October 18th. The stock was sold at an average price of $239.95, for a total value of $1,187,992.45. The disclosure for this sale can be found here. Insiders sold a total of 135,177 shares of company stock valued at $32,435,160 over the last three months. Insiders own 2.57% of the company’s stock.
Several large investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in shares of Goldman Sachs Group by 1.3% in the 2nd quarter. Vanguard Group Inc. now owns 24,072,777 shares of the investment management company’s stock worth $5,341,749,000 after purchasing an additional 304,400 shares during the last quarter. Capital World Investors boosted its position in shares of Goldman Sachs Group by 10.5% in the 2nd quarter. Capital World Investors now owns 7,649,583 shares of the investment management company’s stock worth $1,697,442,000 after purchasing an additional 726,582 shares during the last quarter. Capital Research Global Investors boosted its position in shares of Goldman Sachs Group by 4.0% in the 2nd quarter. Capital Research Global Investors now owns 6,918,409 shares of the investment management company’s stock worth $1,535,195,000 after purchasing an additional 265,784 shares during the last quarter. Greenhaven Associates Inc. boosted its position in shares of Goldman Sachs Group by 2.5% in the 2nd quarter. Greenhaven Associates Inc. now owns 3,793,287 shares of the investment management company’s stock worth $841,730,000 after purchasing an additional 91,200 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its position in shares of Goldman Sachs Group by 10.9% in the 3rd quarter. Bank of New York Mellon Corp now owns 3,618,896 shares of the investment management company’s stock worth $858,366,000 after purchasing an additional 356,956 shares during the last quarter. Institutional investors and hedge funds own 73.27% of the company’s stock.
Shares of Goldman Sachs Group (GS) traded down $1.74 on Friday, hitting $254.76. The stock had a trading volume of 2,518,577 shares, compared to its average volume of 2,553,554. Goldman Sachs Group has a fifty-two week low of $209.62 and a fifty-two week high of $262.14. The firm has a market cap of $96,752.19, a PE ratio of 13.27, a PEG ratio of 1.12 and a beta of 1.47. The company has a debt-to-equity ratio of 2.82, a quick ratio of 0.90 and a current ratio of 0.90.
The company also recently announced a quarterly dividend, which was paid on Thursday, December 28th. Stockholders of record on Thursday, November 30th were paid a $0.75 dividend. The ex-dividend date was Wednesday, November 29th. This represents a $3.00 annualized dividend and a dividend yield of 1.18%. Goldman Sachs Group’s dividend payout ratio (DPR) is currently 15.63%.
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About Goldman Sachs Group
The Goldman Sachs Group, Inc is an investment banking, securities and investment management company that provides a range of financial services to corporations, financial institutions, governments and individuals. The Company operates in four business segments: Investment Banking, Institutional Client Services, Investing & Lending, and Investment Management.
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