The Goldman Sachs Group, Inc. (NYSE:GS) Expected to Post Quarterly Sales of $11.25 Billion

Analysts predict that The Goldman Sachs Group, Inc. (NYSE:GS) will post sales of $11.25 billion for the current quarter, Zacks reports. Four analysts have made estimates for The Goldman Sachs Group’s earnings. The highest sales estimate is $11.56 billion and the lowest is $11.00 billion. The Goldman Sachs Group posted sales of $10.78 billion during the same quarter last year, which suggests a positive year-over-year growth rate of 4.4%. The business is scheduled to announce its next quarterly earnings report on Wednesday, October 13th.

According to Zacks, analysts expect that The Goldman Sachs Group will report full year sales of $55.07 billion for the current year, with estimates ranging from $54.20 billion to $56.26 billion. For the next year, analysts forecast that the firm will report sales of $45.74 billion, with estimates ranging from $43.94 billion to $46.51 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that that provide coverage for The Goldman Sachs Group.

The Goldman Sachs Group (NYSE:GS) last posted its earnings results on Monday, July 12th. The investment management company reported $15.02 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $10.24 by $4.78. The company had revenue of $15.39 billion for the quarter, compared to analysts’ expectations of $12.17 billion. The Goldman Sachs Group had a return on equity of 23.55% and a net margin of 33.03%. The Goldman Sachs Group’s quarterly revenue was up 15.8% on a year-over-year basis. During the same period last year, the firm earned $6.26 earnings per share.

GS has been the topic of several research reports. JMP Securities lifted their price objective on The Goldman Sachs Group from $440.00 to $450.00 and gave the company a “market perform” rating in a research report on Tuesday, October 5th. Barclays set a $437.00 target price on shares of The Goldman Sachs Group in a report on Wednesday, July 14th. Evercore ISI reiterated a “buy” rating and set a $410.00 target price on shares of The Goldman Sachs Group in a report on Friday, July 2nd. Oppenheimer lifted their target price on shares of The Goldman Sachs Group from $493.00 to $540.00 and gave the company an “outperform” rating in a report on Wednesday, July 14th. Finally, Keefe, Bruyette & Woods assumed coverage on shares of The Goldman Sachs Group in a report on Wednesday, July 7th. They set a “market perform” rating and a $391.00 target price for the company. One analyst has rated the stock with a sell rating, eight have given a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, The Goldman Sachs Group presently has an average rating of “Buy” and an average target price of $397.59.

Hedge funds have recently modified their holdings of the company. Trinity Legacy Partners LLC boosted its holdings in shares of The Goldman Sachs Group by 32.3% during the 2nd quarter. Trinity Legacy Partners LLC now owns 6,250 shares of the investment management company’s stock valued at $2,350,000 after purchasing an additional 1,527 shares during the last quarter. Putnam Investments LLC boosted its holdings in shares of The Goldman Sachs Group by 8.0% during the 1st quarter. Putnam Investments LLC now owns 1,471,059 shares of the investment management company’s stock valued at $481,037,000 after purchasing an additional 109,455 shares during the last quarter. Baker Avenue Asset Management LP boosted its holdings in shares of The Goldman Sachs Group by 3.1% during the 1st quarter. Baker Avenue Asset Management LP now owns 10,051 shares of the investment management company’s stock valued at $3,286,000 after purchasing an additional 298 shares during the last quarter. Tarbox Family Office Inc. boosted its holdings in shares of The Goldman Sachs Group by 112.6% during the 2nd quarter. Tarbox Family Office Inc. now owns 2,643 shares of the investment management company’s stock valued at $1,003,000 after purchasing an additional 1,400 shares during the last quarter. Finally, Kentucky Retirement Systems bought a new position in shares of The Goldman Sachs Group during the 2nd quarter valued at about $7,519,000. 70.82% of the stock is owned by hedge funds and other institutional investors.

The Goldman Sachs Group stock opened at $386.31 on Thursday. The stock’s 50 day simple moving average is $398.69 and its two-hundred day simple moving average is $373.96. The company has a debt-to-equity ratio of 2.58, a quick ratio of 0.84 and a current ratio of 0.84. The stock has a market cap of $130.22 billion, a price-to-earnings ratio of 6.98 and a beta of 1.50. The Goldman Sachs Group has a fifty-two week low of $185.52 and a fifty-two week high of $420.76.

The Goldman Sachs Group Company Profile

Goldman Sachs Group, Inc engages in global investment banking, securities, and investment management, which provides financial services. It operates through the following business segments: Investment Banking, Global Markets, Asset Management, and Consumer & Wealth Management. The Investment Banking segment serves public and private sector clients around the world and provides financial advisory services, help companies raise capital to strengthen and grow their businesses and provide financing to corporate clients.

Featured Article: When is a capital gain realized?

Get a free copy of the Zacks research report on The Goldman Sachs Group (GS)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

Receive News & Ratings for The Goldman Sachs Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for The Goldman Sachs Group and related companies with MarketBeat.com's FREE daily email newsletter.