$8.55 Billion in Sales Expected for Goldman Sachs Group Inc (NYSE:GS) This Quarter

Brokerages expect that Goldman Sachs Group Inc (NYSE:GS) will post $8.55 billion in sales for the current quarter, Zacks reports. Two analysts have provided estimates for Goldman Sachs Group’s earnings, with estimates ranging from $8.39 billion to $8.70 billion. Goldman Sachs Group posted sales of $9.46 billion in the same quarter last year, which suggests a negative year over year growth rate of 9.6%. The company is expected to issue its next earnings report before the market opens on Wednesday, July 15th.

According to Zacks, analysts expect that Goldman Sachs Group will report full-year sales of $34.69 billion for the current financial year, with estimates ranging from $34.04 billion to $35.37 billion. For the next financial year, analysts expect that the company will post sales of $37.28 billion, with estimates ranging from $36.36 billion to $37.82 billion. Zacks’ sales averages are an average based on a survey of analysts that that provide coverage for Goldman Sachs Group.

Goldman Sachs Group (NYSE:GS) last released its earnings results on Wednesday, April 15th. The investment management company reported $3.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.83 by $0.28. The company had revenue of $8.74 billion during the quarter, compared to analyst estimates of $7.92 billion. Goldman Sachs Group had a return on equity of 9.26% and a net margin of 14.04%. Goldman Sachs Group’s quarterly revenue was down .7% on a year-over-year basis. During the same period in the prior year, the company posted $5.71 earnings per share.

Several research firms recently commented on GS. Bank of America dropped their price objective on Goldman Sachs Group from $197.00 to $154.00 and set a “buy” rating on the stock in a research note on Monday, March 23rd. UBS Group increased their price target on Goldman Sachs Group from $185.00 to $200.00 and gave the stock a “buy” rating in a research note on Tuesday, June 23rd. Berenberg Bank set a $160.00 price objective on Goldman Sachs Group and gave the stock a “hold” rating in a report on Thursday, March 26th. JMP Securities decreased their price objective on Goldman Sachs Group from $290.00 to $270.00 and set a “market outperform” rating for the company in a report on Thursday, April 9th. Finally, Barclays reissued a “hold” rating and issued a $236.00 price objective on shares of Goldman Sachs Group in a report on Thursday, April 9th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and fifteen have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $225.24.

Hedge funds and other institutional investors have recently modified their holdings of the company. Permanens Capital L.P. purchased a new position in shares of Goldman Sachs Group during the fourth quarter worth about $25,000. Virtus ETF Advisers LLC purchased a new position in shares of Goldman Sachs Group during the fourth quarter worth about $25,000. Firestone Capital Management purchased a new position in shares of Goldman Sachs Group during the fourth quarter worth about $30,000. Solstein Capital LLC purchased a new position in shares of Goldman Sachs Group during the fourth quarter worth about $32,000. Finally, Americana Partners LLC purchased a new position in shares of Goldman Sachs Group during the fourth quarter worth about $33,000. 68.07% of the stock is owned by institutional investors.

Shares of GS stock traded up $2.06 during trading on Friday, hitting $195.53. The company’s stock had a trading volume of 1,400,333 shares, compared to its average volume of 3,531,159. The company has a market cap of $66.53 billion, a PE ratio of 10.68, a P/E/G ratio of 5.53 and a beta of 1.45. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 2.78. The business has a fifty day moving average of $195.84 and a 200-day moving average of $203.70. Goldman Sachs Group has a 52 week low of $130.85 and a 52 week high of $250.46.

The business also recently announced a quarterly dividend, which was paid on Monday, June 29th. Shareholders of record on Monday, June 1st were issued a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 2.56%. The ex-dividend date was Friday, May 29th. Goldman Sachs Group’s payout ratio is presently 23.78%.

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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