Wall Street analysts forecast that Goldman Sachs Group Inc (NYSE:GS) will announce sales of $9.39 billion for the current quarter, Zacks reports. Two analysts have issued estimates for Goldman Sachs Group’s earnings, with the highest sales estimate coming in at $9.41 billion and the lowest estimate coming in at $9.36 billion. Goldman Sachs Group reported sales of $9.40 billion in the same quarter last year, which indicates a negative year over year growth rate of 0.1%. The company is expected to issue its next earnings results on Tuesday, July 16th.
On average, analysts expect that Goldman Sachs Group will report full-year sales of $35.35 billion for the current fiscal year, with estimates ranging from $35.22 billion to $35.60 billion. For the next fiscal year, analysts anticipate that the business will post sales of $37.41 billion, with estimates ranging from $36.21 billion to $38.30 billion. Zacks Investment Research’s sales calculations 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 announced its earnings results on Monday, April 15th. The investment management company reported $5.71 EPS for the quarter, topping the Zacks’ consensus estimate of $4.74 by $0.97. The business had revenue of $8.81 billion during the quarter, compared to the consensus estimate of $8.89 billion. Goldman Sachs Group had a net margin of 25.13% and a return on equity of 12.79%. The firm’s revenue was down 12.6% on a year-over-year basis. During the same period in the previous year, the company posted $6.95 earnings per share.
A number of equities research analysts have recently weighed in on the company. Odeon Capital Group upgraded Goldman Sachs Group from a “sell” rating to a “hold” rating in a research note on Wednesday, April 17th. ValuEngine upgraded Goldman Sachs Group from a “strong sell” rating to a “sell” rating in a research note on Wednesday, May 1st. Zacks Investment Research lowered Goldman Sachs Group from a “hold” rating to a “sell” rating in a research note on Wednesday, April 10th. Bank of America restated a “hold” rating and set a $212.00 price target on shares of Goldman Sachs Group in a research note on Monday, April 15th. Finally, HSBC set a $202.00 price target on Goldman Sachs Group and gave the stock a “neutral” rating in a research note on Thursday, April 4th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and five have given a buy rating to the stock. Goldman Sachs Group has a consensus rating of “Hold” and an average target price of $239.91.
A number of hedge funds and other institutional investors have recently modified their holdings of GS. Capital Financial Planning LLC acquired a new position in Goldman Sachs Group in the fourth quarter valued at approximately $26,000. Toth Financial Advisory Corp lifted its holdings in Goldman Sachs Group by 100.0% in the first quarter. Toth Financial Advisory Corp now owns 140 shares of the investment management company’s stock valued at $27,000 after acquiring an additional 70 shares during the period. Alera Investment Advisors LLC lifted its holdings in Goldman Sachs Group by 71.8% in the first quarter. Alera Investment Advisors LLC now owns 146 shares of the investment management company’s stock valued at $28,000 after acquiring an additional 61 shares during the period. Liberty Wealth Management LLC acquired a new position in Goldman Sachs Group in the fourth quarter valued at approximately $29,000. Finally, Loeb Partners Corp acquired a new position in Goldman Sachs Group in the fourth quarter valued at approximately $33,000. Hedge funds and other institutional investors own 68.52% of the company’s stock.
Shares of GS stock traded down $4.51 during trading hours on Wednesday, reaching $190.22. 2,059,000 shares of the company’s stock were exchanged, compared to its average volume of 2,979,431. Goldman Sachs Group has a 1 year low of $151.70 and a 1 year high of $245.08. The firm has a market capitalization of $71.02 billion, a price-to-earnings ratio of 7.53, a PEG ratio of 1.22 and a beta of 1.27. The company has a debt-to-equity ratio of 2.84, a quick ratio of 0.86 and a current ratio of 0.86.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 27th. Stockholders of record on Thursday, May 30th will be paid a dividend of $0.85 per share. This is a positive change from Goldman Sachs Group’s previous quarterly dividend of $0.80. The ex-dividend date of this dividend is Wednesday, May 29th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 1.79%. Goldman Sachs Group’s payout ratio is presently 13.45%.
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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