Brokerages Expect Goldman Sachs Group Inc (NYSE:GS) Will Post Earnings of $2.83 Per Share

Equities research analysts predict that Goldman Sachs Group Inc (NYSE:GS) will announce earnings per share (EPS) of $2.83 for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for Goldman Sachs Group’s earnings, with estimates ranging from ($0.44) to $4.50. Goldman Sachs Group posted earnings of $5.81 per share during the same quarter last year, which indicates a negative year-over-year growth rate of 51.3%. The firm is expected to report its next earnings report before the market opens on Wednesday, July 15th.

On average, analysts expect that Goldman Sachs Group will report full year earnings of $14.30 per share for the current year, with EPS estimates ranging from $11.83 to $16.93. For the next year, analysts anticipate that the company will report earnings of $22.46 per share, with EPS estimates ranging from $20.32 to $24.00. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of research analysts that follow Goldman Sachs Group.

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

A number of equities analysts recently issued reports on GS shares. JMP Securities decreased their target price on shares of Goldman Sachs Group from $290.00 to $270.00 and set a “market outperform” rating for the company in a research report on Thursday, April 9th. Cfra upgraded shares of Goldman Sachs Group from a “sell” rating to a “hold” rating and reduced their price objective for the company from $220.00 to $210.00 in a research report on Wednesday, April 15th. JPMorgan Chase & Co. restated a “buy” rating and set a $215.00 price objective on shares of Goldman Sachs Group in a research report on Tuesday, June 16th. Oppenheimer raised their price objective on shares of Goldman Sachs Group from $278.00 to $282.00 and gave the company an “outperform” rating in a research report on Thursday, April 16th. Finally, BMO Capital Markets upgraded shares of Goldman Sachs Group from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $205.00 to $276.00 in a research report on Thursday, May 14th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and fifteen have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $225.24.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Permanens Capital L.P. acquired a new position in Goldman Sachs Group in the fourth quarter worth approximately $25,000. Virtus ETF Advisers LLC acquired a new position in Goldman Sachs Group in the fourth quarter worth approximately $25,000. Harvest Fund Management Co. Ltd acquired a new position in Goldman Sachs Group in the first quarter worth approximately $26,000. Allworth Financial LP increased its holdings in Goldman Sachs Group by 68.5% in the first quarter. Allworth Financial LP now owns 187 shares of the investment management company’s stock worth $29,000 after buying an additional 76 shares during the last quarter. Finally, Firestone Capital Management acquired a new position in Goldman Sachs Group in the fourth quarter worth approximately $30,000. 68.07% of the stock is owned by institutional investors and hedge funds.

GS traded up $2.06 on Thursday, reaching $195.53. The company had a trading volume of 1,400,333 shares, compared to its average volume of 3,531,159. The company has a fifty day moving average of $195.84 and a 200-day moving average of $203.70. The company has a market capitalization of $66.53 billion, a P/E ratio of 10.68, a PEG 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. Goldman Sachs Group has a one year low of $130.85 and a one year high of $250.46.

The business also recently declared a quarterly dividend, which was paid on Monday, June 29th. Stockholders of record on Monday, June 1st were given a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.56%. The ex-dividend date of this dividend was Friday, May 29th. Goldman Sachs Group’s dividend payout ratio (DPR) is 23.78%.

Goldman Sachs Group Company Profile

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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