Zacks: Analysts Expect Goldman Sachs Group Inc (NYSE:GS) Will Announce Quarterly Sales of $8.62 Billion

Wall Street analysts predict that Goldman Sachs Group Inc (NYSE:GS) will announce $8.62 billion in sales for the current quarter, Zacks reports. Two analysts have made estimates for Goldman Sachs Group’s earnings. The highest sales estimate is $8.82 billion and the lowest is $8.42 billion. Goldman Sachs Group reported sales of $8.65 billion in the same quarter last year, which indicates a negative year over year growth rate of 0.3%. The business is scheduled to issue its next quarterly earnings report on Tuesday, October 15th.

According to Zacks, analysts expect that Goldman Sachs Group will report full year sales of $35.43 billion for the current financial year, with estimates ranging from $34.97 billion to $35.95 billion. For the next year, analysts expect that the business will report sales of $36.83 billion, with estimates ranging from $35.81 billion to $38.75 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that cover Goldman Sachs Group.

Goldman Sachs Group (NYSE:GS) last released its earnings results on Tuesday, July 16th. The investment management company reported $5.81 earnings per share for the quarter, topping analysts’ consensus estimates of $4.73 by $1.08. Goldman Sachs Group had a return on equity of 12.43% and a net margin of 22.09%. The business had revenue of $9.46 billion for the quarter, compared to analyst estimates of $8.88 billion. During the same quarter last year, the firm posted $5.98 earnings per share. The business’s revenue was up .6% compared to the same quarter last year.

Several brokerages have recently commented on GS. ValuEngine upgraded Goldman Sachs Group from a “strong sell” rating to a “sell” rating in a research note on Wednesday, May 1st. Keefe, Bruyette & Woods upgraded Goldman Sachs Group from a “market perform” rating to an “outperform” rating and raised their price target for the company from $225.00 to $260.00 in a research note on Friday, July 26th. TheStreet upgraded Goldman Sachs Group from a “c+” rating to a “b” rating in a research note on Tuesday, August 6th. Royal Bank of Canada restated a “neutral” rating and set a $220.00 price target on shares of Goldman Sachs Group in a research note on Tuesday, July 16th. Finally, JPMorgan Chase & Co. reiterated a “buy” rating and issued a $240.00 target price on shares of Goldman Sachs Group in a research note on Wednesday, July 17th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $240.92.

In other Goldman Sachs Group news, EVP Dane E. Holmes sold 3,165 shares of Goldman Sachs Group stock in a transaction dated Thursday, July 18th. The stock was sold at an average price of $212.15, for a total value of $671,454.75. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 1.41% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently modified their holdings of the business. Toth Financial Advisory Corp lifted its holdings in shares of Goldman Sachs Group by 100.0% during the first quarter. Toth Financial Advisory Corp now owns 140 shares of the investment management company’s stock worth $27,000 after purchasing an additional 70 shares during the period. Alera Investment Advisors LLC lifted its holdings in shares of Goldman Sachs Group by 71.8% during the first quarter. Alera Investment Advisors LLC now owns 146 shares of the investment management company’s stock worth $28,000 after purchasing an additional 61 shares during the period. Next Capital Management LLC acquired a new stake in shares of Goldman Sachs Group during the second quarter worth about $28,000. Motco lifted its holdings in shares of Goldman Sachs Group by 146.7% during the second quarter. Motco now owns 148 shares of the investment management company’s stock worth $30,000 after purchasing an additional 88 shares during the period. Finally, CNB Bank lifted its holdings in shares of Goldman Sachs Group by 108.4% during the first quarter. CNB Bank now owns 173 shares of the investment management company’s stock worth $33,000 after purchasing an additional 90 shares during the period. 69.54% of the stock is owned by institutional investors and hedge funds.

Shares of Goldman Sachs Group stock traded up $3.24 during trading on Tuesday, hitting $199.42. 1,824,900 shares of the stock traded hands, compared to its average volume of 2,312,395. The firm has a market cap of $70.54 billion, a P/E ratio of 7.89, a price-to-earnings-growth ratio of 0.72 and a beta of 1.32. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 2.78. Goldman Sachs Group has a 52-week low of $151.70 and a 52-week high of $245.08. The stock’s fifty day simple moving average is $210.00 and its 200 day simple moving average is $200.19.

The business also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, August 30th will be paid a $1.25 dividend. This represents a $5.00 annualized dividend and a yield of 2.51%. The ex-dividend date is Thursday, August 29th. This is a positive change from Goldman Sachs Group’s previous quarterly dividend of $0.85. Goldman Sachs Group’s payout ratio is 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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