Oppenheimer Holdings Research Analysts Increase Earnings Estimates for Goldman Sachs Group Inc (GS)

Goldman Sachs Group Inc (NYSE:GS) – Investment analysts at Oppenheimer Holdings increased their Q2 2017 earnings estimates for shares of Goldman Sachs Group in a research report issued on Tuesday. Oppenheimer Holdings analyst C. Kotowski now anticipates that the investment management company will post earnings of $4.23 per share for the quarter, up from their prior forecast of $4.14. Oppenheimer Holdings has a “Outperform” rating and a $256.00 price objective on the stock. Oppenheimer Holdings also issued estimates for Goldman Sachs Group’s Q4 2017 earnings at $5.27 EPS and FY2017 earnings at $19.46 EPS.

Other equities analysts have also issued research reports about the stock. Royal Bank of Canada reduced their target price on shares of Goldman Sachs Group from $250.00 to $240.00 and set a “sector perform” rating on the stock in a report on Wednesday. Atlantic Securities upgraded shares of Goldman Sachs Group from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $214.09 to $254.00 in a report on Thursday. Citigroup Inc upgraded shares of Goldman Sachs Group from a “sell” rating to a “neutral” rating and set a $225.00 target price on the stock in a report on Wednesday. JMP Securities restated a “market perform” rating on shares of Goldman Sachs Group in a report on Wednesday. Finally, HSBC Holdings plc restated a “buy” rating and set a $291.00 target price on shares of Goldman Sachs Group in a report on Monday, March 27th. Three investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and thirteen have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $228.94.

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

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Goldman Sachs Group (NYSE:GS) opened at 218.06 on Friday. The stock has a market capitalization of $90.46 billion, a P/E ratio of 13.39 and a beta of 1.50. Goldman Sachs Group has a 12-month low of $138.20 and a 12-month high of $255.15. The firm’s 50-day moving average price is $234.95 and its 200 day moving average price is $222.35. Goldman Sachs Group also was the target of some unusual options trading activity on Tuesday. Traders acquired 8,747 call options on the stock. This represents an increase of approximately 212% compared to the average volume of 2,801 call options.

Goldman Sachs Group (NYSE:GS) last released its quarterly earnings data on Tuesday, April 18th. The investment management company reported $5.15 EPS for the quarter, missing the consensus estimate of $5.31 by $0.16. The firm had revenue of $8.03 billion for the quarter, compared to analysts’ expectations of $8.33 billion. Goldman Sachs Group had a return on equity of 9.78% and a net margin of 24.17%. The company’s revenue for the quarter was up 26.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.68 earnings per share.

Several hedge funds have recently modified their holdings of the company. Ancora Advisors LLC bought a new stake in shares of Goldman Sachs Group during the fourth quarter worth $109,000. Parallel Advisors LLC acquired a new stake in Goldman Sachs Group during the fourth quarter valued at approximately $121,000. Israel Discount Bank of New York GFN acquired a new stake in Goldman Sachs Group during the fourth quarter valued at approximately $158,000. Cedar Wealth Management LLC raised its stake in Goldman Sachs Group by 3.9% in the third quarter. Cedar Wealth Management LLC now owns 983 shares of the investment management company’s stock valued at $159,000 after buying an additional 37 shares in the last quarter. Finally, Thomas J. Herzfeld Advisors Inc. acquired a new stake in Goldman Sachs Group during the fourth quarter valued at approximately $166,000. 72.77% of the stock is owned by institutional investors.

In other news, EVP John F.W. Rogers sold 32,325 shares of the company’s stock in a transaction that occurred on Wednesday, February 15th. The shares were sold at an average price of $250.06, for a total value of $8,083,189.50. Following the completion of the sale, the executive vice president now directly owns 94,458 shares of the company’s stock, valued at approximately $23,620,167.48. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Alan M. Cohen sold 5,599 shares of the company’s stock in a transaction that occurred on Thursday, February 16th. The stock was sold at an average price of $250.16, for a total transaction of $1,400,645.84. Following the completion of the sale, the executive vice president now directly owns 77,135 shares of the company’s stock, valued at $19,296,091.60. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 91,990 shares of company stock valued at $22,362,560. Company insiders own 2.61% of the company’s stock.

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 29th. Stockholders of record on Thursday, June 1st will be paid a $0.75 dividend. This is a positive change from Goldman Sachs Group’s previous quarterly dividend of $0.65. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.38%. The ex-dividend date of this dividend is Tuesday, May 30th. Goldman Sachs Group’s dividend payout ratio is currently 15.89%.

About Goldman Sachs Group

The Goldman Sachs Group, Inc is an investment banking, securities and investment management company that provides a range of financial services to corporations, financial institutions, governments and individuals. The Company operates in four business segments: Investment Banking, Institutional Client Services, Investing & Lending, and Investment Management.

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