Wall Street brokerages expect that Goldman Sachs Group Inc (NYSE:GS) will post $8.78 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Goldman Sachs Group’s earnings, with the lowest sales estimate coming in at $8.63 billion and the highest estimate coming in at $8.93 billion. Goldman Sachs Group posted sales of $7.89 billion in the same quarter last year, which would indicate a positive year over year growth rate of 11.3%. The business is scheduled to report its next quarterly earnings report on Tuesday, July 17th.
According to Zacks, analysts expect that Goldman Sachs Group will report full year sales of $35.05 billion for the current year, with estimates ranging from $33.51 billion to $36.15 billion. For the next year, analysts expect that the firm will post sales of $36.45 billion per share, with estimates ranging from $33.60 billion to $37.96 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that that provide coverage for Goldman Sachs Group.
Goldman Sachs Group (NYSE:GS) last issued its quarterly earnings results on Tuesday, April 17th. The investment management company reported $6.95 earnings per share for the quarter, topping analysts’ consensus estimates of $5.58 by $1.37. The company had revenue of $10.04 billion during the quarter, compared to analyst estimates of $8.73 billion. Goldman Sachs Group had a net margin of 14.27% and a return on equity of 12.58%. The business’s revenue for the quarter was up 25.0% compared to the same quarter last year. During the same period in the prior year, the business posted $5.15 EPS.
A number of brokerages have recently weighed in on GS. JPMorgan Chase & Co. reaffirmed a “buy” rating and issued a $280.00 price target on shares of Goldman Sachs Group in a research note on Tuesday, June 12th. Zacks Investment Research lowered shares of Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 22nd. ValuEngine lowered shares of Goldman Sachs Group from a “buy” rating to a “hold” rating in a research note on Saturday, April 21st. Keefe, Bruyette & Woods reissued a “hold” rating on shares of Goldman Sachs Group in a research note on Wednesday, April 18th. Finally, Credit Suisse Group increased their target price on shares of Goldman Sachs Group from $274.00 to $280.00 and gave the company a “neutral” rating in a research note on Wednesday, April 18th. Three investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and ten have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $266.78.
Shares of NYSE:GS opened at $231.92 on Monday. The company has a market capitalization of $87.60 billion, a PE ratio of 11.74, a P/E/G ratio of 0.80 and a beta of 1.33. Goldman Sachs Group has a twelve month low of $214.64 and a twelve month high of $275.31. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 3.12.
The company also recently declared a quarterly dividend, which will be paid on Thursday, June 28th. Stockholders of record on Thursday, May 31st will be issued a dividend of $0.80 per share. The ex-dividend date is Wednesday, May 30th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.38%. This is a positive change from Goldman Sachs Group’s previous quarterly dividend of $0.75. Goldman Sachs Group’s payout ratio is currently 16.19%.
In other news, insider David M. Solomon sold 3,497 shares of the business’s stock in a transaction that occurred on Tuesday, May 15th. The shares were sold at an average price of $244.40, for a total transaction of $854,666.80. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 2.57% of the stock is owned by insiders.
Institutional investors have recently added to or reduced their stakes in the business. Icon Wealth Partners LLC acquired a new position in Goldman Sachs Group in the 4th quarter valued at approximately $113,000. Prime Capital Investment Advisors LLC acquired a new position in Goldman Sachs Group in the 4th quarter valued at approximately $127,000. We Are One Seven LLC acquired a new position in Goldman Sachs Group in the 4th quarter valued at approximately $137,000. Crewe Advisors LLC increased 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 valued at $146,000 after buying an additional 230 shares during the period. Finally, Mitsubishi UFJ Securities Holdings Co. Ltd. acquired a new position in Goldman Sachs Group in the 1st quarter valued at approximately $151,000. Hedge funds and other institutional investors own 72.46% of the company’s stock.
About Goldman Sachs Group
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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