Goldman Sachs Group Inc (NYSE:GS) Expected to Announce Earnings of $3.33 Per Share

Equities analysts forecast that Goldman Sachs Group Inc (NYSE:GS) will announce $3.33 earnings per share (EPS) for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for Goldman Sachs Group’s earnings, with the lowest EPS estimate coming in at $1.85 and the highest estimate coming in at $3.88. Goldman Sachs Group posted earnings of $5.81 per share in the same quarter last year, which suggests a negative year-over-year growth rate of 42.7%. The business is scheduled to report its next quarterly earnings results 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 fiscal year, with EPS estimates ranging from $11.83 to $16.93. For the next fiscal year, analysts forecast that the business 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 an average based on a survey of sell-side research analysts that cover Goldman Sachs Group.

Goldman Sachs Group (NYSE:GS) last posted its quarterly earnings results on Wednesday, April 15th. The investment management company reported $3.11 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.83 by $0.28. The company 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%. The firm’s revenue for the quarter was down .7% on a year-over-year basis. During the same quarter in the prior year, the business earned $5.71 earnings per share.

A number of brokerages recently weighed in on GS. JMP Securities lowered their target price on shares of Goldman Sachs Group from $290.00 to $270.00 and set a “market outperform” rating on the stock in a research note on Thursday, April 9th. BMO Capital Markets upgraded shares of Goldman Sachs Group from a “market perform” rating to an “outperform” rating and increased their price target for the company from $205.00 to $276.00 in a research report on Thursday, May 14th. Deutsche Bank upgraded shares of Goldman Sachs Group from a “hold” rating to a “buy” rating in a report on Thursday, June 4th. UBS Group lifted their price target on shares of Goldman Sachs Group from $185.00 to $200.00 and gave the company a “buy” rating in a report on Tuesday, June 23rd. Finally, Berenberg Bank set a $160.00 price target on shares of Goldman Sachs Group and gave the company a “hold” rating in a report on Thursday, March 26th. One equities research 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 currently has an average rating of “Buy” and an average target price of $226.43.

Shares of Goldman Sachs Group stock traded down $0.17 on Thursday, reaching $197.40. The stock had a trading volume of 2,698,843 shares, compared to its average volume of 3,962,128. Goldman Sachs Group has a 1 year low of $130.85 and a 1 year high of $250.46. The company has a market cap of $67.94 billion, a P/E ratio of 10.73, a price-to-earnings-growth ratio of 5.78 and a beta of 1.46. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 2.78. The business’s 50 day moving average is $196.69 and its two-hundred day moving average is $203.30.

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 29th. Shareholders of record on Monday, June 1st were given a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a yield of 2.53%. The ex-dividend date of this dividend was Friday, May 29th. Goldman Sachs Group’s dividend payout ratio is currently 23.78%.

A number of institutional investors have recently made changes to their positions in the business. Permanens Capital L.P. purchased a new position in shares of Goldman Sachs Group in the 4th quarter worth about $25,000. Virtus ETF Advisers LLC purchased a new position in shares of Goldman Sachs Group in the 4th quarter worth about $25,000. Harvest Fund Management Co. Ltd purchased a new position in shares of Goldman Sachs Group in the 1st quarter worth about $26,000. Allworth Financial LP raised its position in shares of Goldman Sachs Group by 68.5% in the 1st quarter. Allworth Financial LP now owns 187 shares of the investment management company’s stock worth $29,000 after purchasing an additional 76 shares during the last quarter. Finally, Firestone Capital Management purchased a new position in shares of Goldman Sachs Group in the 4th quarter worth about $30,000. 68.07% of the stock is owned by institutional investors and hedge funds.

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

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