Oppenheimer Comments on Goldman Sachs Group Inc’s Q3 2019 Earnings (NYSE:GS)

Goldman Sachs Group Inc (NYSE:GS) – Investment analysts at Oppenheimer increased their Q3 2019 earnings per share (EPS) estimates for Goldman Sachs Group in a research note issued on Tuesday, July 16th. Oppenheimer analyst C. Kotowski now anticipates that the investment management company will post earnings of $6.20 per share for the quarter, up from their prior forecast of $6.15. Oppenheimer currently has a “Outperform” rating and a $312.00 target price on the stock. Oppenheimer also issued estimates for Goldman Sachs Group’s Q4 2019 earnings at $5.52 EPS, FY2019 earnings at $23.24 EPS and FY2020 earnings at $24.95 EPS.

Goldman Sachs Group (NYSE:GS) last announced its earnings results on Tuesday, July 16th. The investment management company reported $5.81 earnings per share for the quarter, topping the Zacks’ consensus estimate of $4.73 by $1.08. The company had revenue of $9.46 billion for the quarter, compared to analyst estimates of $8.88 billion. Goldman Sachs Group had a return on equity of 11.99% and a net margin of 22.09%. The firm’s quarterly revenue was up .6% compared to the same quarter last year. During the same quarter last year, the company earned $5.98 earnings per share.



GS has been the topic of a number of other research reports. HSBC reiterated a “hold” rating on shares of Societe Generale in a research note on Thursday, April 4th. Morgan Stanley lowered GasLog Partners LP Unit from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $23.00 to $18.00 in a research note on Tuesday, April 16th. Deutsche Bank set a $142.00 target price on MCCORMICK & CO /SH and gave the stock a “hold” rating in a research note on Friday, June 28th. Zacks Investment Research upgraded FirstService from a “strong sell” rating to a “hold” rating and set a $110.00 target price on the stock in a research note on Tuesday, June 25th. Finally, Royal Bank of Canada increased their target price on Johnson Service Group from GBX 180 ($2.35) to GBX 190 ($2.48) and gave the stock an “outperform” rating in a research note on Tuesday, July 16th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $239.18.

Shares of NYSE GS opened at $213.52 on Friday. The company has a market capitalization of $78.48 billion, a price-to-earnings ratio of 8.45, a P/E/G ratio of 0.78 and a beta of 1.30. The company has a debt-to-equity ratio of 2.43, a quick ratio of 0.86 and a current ratio of 0.85. Goldman Sachs Group has a 1-year low of $151.70 and a 1-year high of $245.08. The business’s 50 day moving average price is $199.34.

The business also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, August 30th will be given a dividend of $1.25 per share. The ex-dividend date is Thursday, August 29th. This represents a $5.00 dividend on an annualized basis and a yield of 2.34%. This is an increase from Goldman Sachs Group’s previous quarterly dividend of $0.85. Goldman Sachs Group’s dividend payout ratio is currently 13.45%.

In related news, EVP Dane E. Holmes sold 3,165 shares of the stock in a transaction that occurred on Thursday, July 18th. The stock was sold at an average price of $212.15, for a total transaction of $671,454.75. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 1.41% of the company’s stock.

Several hedge funds have recently modified their holdings of GS. Norges Bank acquired a new stake in shares of Goldman Sachs Group in the 4th quarter valued at $474,398,000. Geode Capital Management LLC boosted its holdings in shares of Goldman Sachs Group by 10.6% in the 4th quarter. Geode Capital Management LLC now owns 4,291,537 shares of the investment management company’s stock valued at $715,573,000 after purchasing an additional 411,700 shares in the last quarter. Thoroughbred Financial Services LLC boosted its holdings in shares of Goldman Sachs Group by 31,213.5% in the 2nd quarter. Thoroughbred Financial Services LLC now owns 356,034 shares of the investment management company’s stock valued at $35,603,000 after purchasing an additional 354,897 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Goldman Sachs Group by 8.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,112,048 shares of the investment management company’s stock valued at $519,812,000 after purchasing an additional 247,616 shares in the last quarter. Finally, FIL Ltd boosted its holdings in shares of Goldman Sachs Group by 61,981.5% in the 1st quarter. FIL Ltd now owns 198,040 shares of the investment management company’s stock valued at $38,021,000 after purchasing an additional 197,721 shares in the last quarter. 68.48% of the stock is currently owned by hedge funds and other institutional investors.

About Goldman Sachs Group

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