The Goldman Sachs Group, Inc. (NYSE:GS) Expected to Announce Earnings of $9.04 Per Share

Brokerages forecast that The Goldman Sachs Group, Inc. (NYSE:GS) will report $9.04 earnings per share for the current fiscal quarter, according to Zacks. Four analysts have provided estimates for The Goldman Sachs Group’s earnings, with estimates ranging from $7.69 to $11.15. The Goldman Sachs Group posted earnings per share of $9.68 in the same quarter last year, which would suggest a negative year over year growth rate of 6.6%. The business is expected to report its next earnings report on Wednesday, October 13th.

According to Zacks, analysts expect that The Goldman Sachs Group will report full-year earnings of $52.72 per share for the current year, with EPS estimates ranging from $51.00 to $57.40. For the next year, analysts expect that the company will report earnings of $36.73 per share, with EPS estimates ranging from $34.83 to $39.43. Zacks’ earnings per share averages are an average based on a survey of research firms that that provide coverage for The Goldman Sachs Group.

The Goldman Sachs Group (NYSE:GS) last issued its earnings results on Monday, July 12th. The investment management company reported $15.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $10.24 by $4.78. The firm had revenue of $15.39 billion for the quarter, compared to analysts’ expectations of $12.17 billion. The Goldman Sachs Group had a net margin of 33.03% and a return on equity of 23.55%. The business’s revenue was up 15.8% on a year-over-year basis. During the same quarter last year, the business earned $6.26 earnings per share.

Several brokerages have commented on GS. Oppenheimer raised their price objective on The Goldman Sachs Group from $493.00 to $540.00 and gave the company an “outperform” rating in a research report on Wednesday, July 14th. JPMorgan Chase & Co. set a $458.00 price objective on The Goldman Sachs Group in a research note on Friday, September 17th. Morgan Stanley upped their price target on The Goldman Sachs Group from $332.00 to $384.00 and gave the stock an “underweight” rating in a research note on Thursday, July 29th. Royal Bank of Canada set a $370.00 price objective on The Goldman Sachs Group in a report on Tuesday, July 13th. Finally, Jefferies Financial Group began coverage on The Goldman Sachs Group in a report on Wednesday, June 9th. They set a “buy” rating and a $450.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $395.09.

Hedge funds have recently modified their holdings of the stock. Alaethes Wealth LLC bought a new stake in The Goldman Sachs Group during the second quarter valued at about $30,000. Altshuler Shaham Ltd purchased a new stake in The Goldman Sachs Group in the first quarter valued at about $37,000. Larson Financial Group LLC raised its stake in The Goldman Sachs Group by 66.7% in the second quarter. Larson Financial Group LLC now owns 100 shares of the investment management company’s stock valued at $38,000 after buying an additional 40 shares during the last quarter. Albion Financial Group UT purchased a new stake in The Goldman Sachs Group in the second quarter valued at about $38,000. Finally, tru Independence LLC purchased a new stake in The Goldman Sachs Group in the second quarter valued at about $39,000. 70.82% of the stock is currently owned by institutional investors.

NYSE:GS traded up $8.92 during trading hours on Wednesday, hitting $399.77. The company had a trading volume of 180,455 shares, compared to its average volume of 2,837,559. The company has a market capitalization of $134.76 billion, a PE ratio of 7.22 and a beta of 1.50. The stock has a 50-day moving average price of $395.33 and a 200 day moving average price of $369.92. The Goldman Sachs Group has a 52 week low of $185.52 and a 52 week high of $420.76. The company has a debt-to-equity ratio of 2.58, a current ratio of 0.84 and a quick ratio of 0.84.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 29th. Stockholders of record on Wednesday, September 1st will be given a dividend of $2.00 per share. This is an increase from The Goldman Sachs Group’s previous quarterly dividend of $1.25. The ex-dividend date of this dividend is Tuesday, August 31st. This represents a $8.00 dividend on an annualized basis and a dividend yield of 2.00%. The Goldman Sachs Group’s dividend payout ratio is presently 23.36%.

About The Goldman Sachs Group

Goldman Sachs Group, Inc engages in global investment banking, securities, and investment management, which provides financial services. It operates through the following business segments: Investment Banking, Global Markets, Asset Management, and Consumer & Wealth Management. The Investment Banking segment serves public and private sector clients around the world and provides financial advisory services, help companies raise capital to strengthen and grow their businesses and provide financing to corporate clients.

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

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