Brokerages expect Goldman Sachs Group Inc (NYSE:GS) to announce sales of $8.81 billion for the current quarter, according to Zacks Investment Research. Four analysts have made estimates for Goldman Sachs Group's earnings, with the lowest sales estimate coming in at $8.39 billion and the highest estimate coming in at $9.03 billion. Goldman Sachs Group posted sales of $9.96 billion in the same quarter last year, which would indicate a negative year over year growth rate of 11.5%. The company is scheduled to issue its next quarterly earnings results on Wednesday, January 20th.
According to Zacks, analysts expect that Goldman Sachs Group will report full-year sales of $40.41 billion for the current fiscal year, with estimates ranging from $39.59 billion to $41.90 billion. For the next financial year, analysts forecast that the business will report sales of $38.39 billion, with estimates ranging from $37.12 billion to $40.15 billion. Zacks Investment Research's sales calculations are an average based on a survey of analysts that follow Goldman Sachs Group.
Goldman Sachs Group (NYSE:GS) last issued its quarterly earnings data on Tuesday, October 20th. The investment management company reported $9.68 earnings per share for the quarter, topping the Zacks' consensus estimate of $5.57 by $4.11. Goldman Sachs Group had a net margin of 13.40% and a return on equity of 9.07%. The business had revenue of $10.70 billion during the quarter, compared to analysts' expectations of $9.40 billion. During the same period in the previous year, the company earned $4.79 earnings per share. Goldman Sachs Group's revenue for the quarter was up 28.6% on a year-over-year basis.
A number of brokerages recently issued reports on GS. Morgan Stanley boosted their target price on shares of Goldman Sachs Group from $192.00 to $208.00 and gave the stock an "equal weight" rating in a research report on Monday, October 5th. ValuEngine lowered shares of Goldman Sachs Group from a "sell" rating to a "strong sell" rating in a research report on Saturday. JMP Securities boosted their target price on shares of Goldman Sachs Group from $280.00 to $285.00 and gave the stock a "market outperform" rating in a research report on Thursday, October 15th. Seaport Global Securities began coverage on shares of Goldman Sachs Group in a research report on Wednesday, July 8th. They set a "buy" rating and a $261.00 target price on the stock. Finally, Credit Suisse Group reaffirmed a "buy" rating and set a $262.00 target price (up previously from $255.00) on shares of Goldman Sachs Group in a research report on Monday. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and fifteen have given a buy rating to the company's stock. The company currently has an average rating of "Buy" and a consensus price target of $249.62.
Shares of Goldman Sachs Group stock opened at $205.69 on Tuesday. The firm has a fifty day simple moving average of $202.27 and a 200-day simple moving average of $196.27. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 2.82. Goldman Sachs Group has a 1-year low of $130.85 and a 1-year high of $250.46. The stock has a market capitalization of $70.77 billion, a price-to-earnings ratio of 10.91, a PEG ratio of 6.54 and a beta of 1.39.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 30th. Stockholders of record on Wednesday, December 2nd will be issued a $1.25 dividend. This represents a $5.00 annualized dividend and a dividend yield of 2.43%. The ex-dividend date of this dividend is Tuesday, December 1st. Goldman Sachs Group's payout ratio is 23.78%.
Several institutional investors and hedge funds have recently bought and sold shares of the company. Bank of New York Mellon Corp grew its holdings in shares of Goldman Sachs Group by 5.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 6,075,538 shares of the investment management company's stock worth $1,200,648,000 after purchasing an additional 296,438 shares during the last quarter. Jennison Associates LLC grew its holdings in shares of Goldman Sachs Group by 53.3% in the 2nd quarter. Jennison Associates LLC now owns 5,459,398 shares of the investment management company's stock worth $1,078,886,000 after purchasing an additional 1,897,007 shares during the last quarter. Greenhaven Associates Inc. grew its holdings in shares of Goldman Sachs Group by 1.4% in the 2nd quarter. Greenhaven Associates Inc. now owns 2,947,430 shares of the investment management company's stock worth $582,471,000 after purchasing an additional 39,533 shares during the last quarter. Fisher Asset Management LLC lifted its position in Goldman Sachs Group by 820.5% during the 2nd quarter. Fisher Asset Management LLC now owns 2,187,696 shares of the investment management company's stock worth $432,333,000 after buying an additional 1,950,030 shares in the last quarter. Finally, Nuveen Asset Management LLC lifted its position in Goldman Sachs Group by 4.4% during the 2nd quarter. Nuveen Asset Management LLC now owns 1,913,725 shares of the investment management company's stock worth $378,190,000 after buying an additional 81,283 shares in the last quarter. 68.70% of the stock is currently owned by institutional investors and hedge funds.
Goldman Sachs Group Company Profile
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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