Goldman Sachs Group Inc (GS) to Post FY2018 Earnings of $25.39 Per Share, Oppenheimer Forecasts

Goldman Sachs Group Inc (NYSE:GS) – Equities researchers at Oppenheimer upped their FY2018 earnings per share (EPS) estimates for shares of Goldman Sachs Group in a research report issued to clients and investors on Tuesday, October 16th. Oppenheimer analyst C. Kotowski now forecasts that the investment management company will post earnings of $25.39 per share for the year, up from their previous forecast of $24.91. Oppenheimer has a “Outperform” rating and a $335.00 price objective on the stock. Oppenheimer also issued estimates for Goldman Sachs Group’s Q3 2019 earnings at $6.79 EPS and FY2019 earnings at $26.88 EPS.

Goldman Sachs Group (NYSE:GS) last announced its quarterly earnings data on Tuesday, October 16th. The investment management company reported $6.28 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $5.38 by $0.90. The firm had revenue of $8.65 billion during the quarter, compared to analysts’ expectations of $8.43 billion. Goldman Sachs Group had a return on equity of 13.57% and a net margin of 16.68%. The company’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $5.02 EPS.

Other equities analysts have also recently issued reports about the company. JPMorgan Chase & Co. reaffirmed a “buy” rating and issued a $285.00 price objective on shares of Goldman Sachs Group in a report on Tuesday. Zacks Investment Research raised Goldman Sachs Group from a “hold” rating to a “buy” rating and set a $259.00 price objective for the company in a report on Friday, July 20th. Wells Fargo & Co reaffirmed a “buy” rating on shares of Goldman Sachs Group in a report on Thursday, September 20th. Societe Generale raised Goldman Sachs Group from a “sell” rating to a “hold” rating in a report on Wednesday, July 18th. Finally, Keefe, Bruyette & Woods dropped their price objective on Goldman Sachs Group from $260.00 to $255.00 and set a “hold” rating for the company in a report on Wednesday, July 18th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and ten have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $281.84.

Shares of NYSE GS opened at $226.96 on Friday. The firm has a market capitalization of $86.19 billion, a price-to-earnings ratio of 11.47, a P/E/G ratio of 0.72 and a beta of 1.28. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 2.63. Goldman Sachs Group has a fifty-two week low of $210.95 and a fifty-two week high of $275.31.

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 28th. Stockholders of record on Friday, November 30th will be paid a $0.80 dividend. The ex-dividend date of this dividend is Thursday, November 29th. This represents a $3.20 annualized dividend and a dividend yield of 1.41%. Goldman Sachs Group’s payout ratio is 16.19%.

In other news, insider David M. Solomon sold 8,488 shares of Goldman Sachs Group stock in a transaction on Wednesday, August 1st. The stock was sold at an average price of $237.92, for a total value of $2,019,464.96. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 2.57% of the company’s stock.

A number of hedge funds have recently modified their holdings of GS. Summit Trail Advisors LLC grew its position in shares of Goldman Sachs Group by 24,200.2% in the 1st quarter. Summit Trail Advisors LLC now owns 944,790 shares of the investment management company’s stock valued at $945,000 after buying an additional 940,902 shares during the last quarter. Renaissance Technologies LLC grew its position in shares of Goldman Sachs Group by 716.4% in the 2nd quarter. Renaissance Technologies LLC now owns 801,657 shares of the investment management company’s stock valued at $176,821,000 after buying an additional 703,457 shares during the last quarter. Investec Asset Management LTD grew its position in shares of Goldman Sachs Group by 360.3% in the 2nd quarter. Investec Asset Management LTD now owns 704,170 shares of the investment management company’s stock valued at $155,319,000 after buying an additional 551,181 shares during the last quarter. Toronto Dominion Bank grew its position in shares of Goldman Sachs Group by 162.5% in the 2nd quarter. Toronto Dominion Bank now owns 504,122 shares of the investment management company’s stock valued at $111,171,000 after buying an additional 312,072 shares during the last quarter. Finally, Calamos Advisors LLC grew its position in shares of Goldman Sachs Group by 96.9% in the 2nd quarter. Calamos Advisors LLC now owns 560,244 shares of the investment management company’s stock valued at $123,573,000 after buying an additional 275,754 shares during the last quarter. Institutional investors and hedge funds own 71.04% of the company’s stock.

About Goldman Sachs Group

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