Goldman Sachs Group Inc. (GS) Set to Announce Earnings on Tuesday
Goldman Sachs Group Inc. (NYSE:GS) will be posting its quarterly earnings results before the market opens on Tuesday, October 18th. Analysts expect Goldman Sachs Group to post earnings of $3.79 per share for the quarter.
Goldman Sachs Group (NYSE:GS) last released its earnings results on Tuesday, July 19th. The investment management company reported $3.72 EPS for the quarter, beating the Zacks’ consensus estimate of $3.00 by $0.72. The business had revenue of $7.93 billion for the quarter, compared to analysts’ expectations of $7.58 billion. Goldman Sachs Group had a return on equity of 8.83% and a net margin of 18.12%. During the same quarter in the prior year, the firm earned $1.98 earnings per share. On average, analysts expect Goldman Sachs Group to post $14.22 EPS for the current fiscal year and $17.6 EPS for the next fiscal year.
Goldman Sachs Group Inc. (NYSE:GS) opened at 170.52 on Friday. The stock’s 50 day moving average price is $166.91 and its 200-day moving average price is $159.81. Goldman Sachs Group Inc. has a 52 week low of $138.20 and a 52 week high of $199.90. The company has a market capitalization of $72.71 billion, a PE ratio of 16.16 and a beta of 1.61.
The company also recently declared a quarterly dividend, which was paid on Thursday, September 29th. Investors of record on Thursday, September 1st were issued a dividend of $0.65 per share. The ex-dividend date was Tuesday, August 30th. This represents a $2.60 annualized dividend and a yield of 1.52%. Goldman Sachs Group’s payout ratio is 24.60%.
GS has been the topic of several analyst reports. Bank of America Corp. reiterated a “buy” rating and set a $160.00 price target (down from $185.00) on shares of Goldman Sachs Group in a report on Wednesday, June 29th. Citigroup Inc. reiterated a “buy” rating on shares of Goldman Sachs Group in a report on Wednesday, June 29th. Vetr upgraded shares of Goldman Sachs Group from a “hold” rating to a “buy” rating and set a $153.68 price target on the stock in a report on Tuesday, July 5th. JPMorgan Chase & Co. set a $163.00 price target on shares of Goldman Sachs Group and gave the company a “buy” rating in a report on Monday, June 27th. Finally, Zacks Investment Research upgraded shares of Goldman Sachs Group from a “hold” rating to a “buy” rating and set a $159.00 target price on the stock in a research note on Monday, June 27th. One analyst has rated the stock with a sell rating, twelve have given a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $179.91.
In other news, insider Sarah G. Smith sold 2,664 shares of the stock in a transaction on Wednesday, August 31st. The shares were sold at an average price of $170.00, for a total value of $452,880.00. Following the sale, the insider now owns 13,075 shares in the company, valued at $2,222,750. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Edith W. Cooper sold 14,000 shares of the stock in a transaction on Friday, August 26th. The stock was sold at an average price of $166.11, for a total transaction of $2,325,540.00. Following the completion of the sale, the executive vice president now owns 33,634 shares in the company, valued at approximately $5,586,943.74. The disclosure for this sale can be found here. 2.61% of the stock is currently owned by insiders.
Several hedge funds have recently added to or reduced their stakes in GS. Stifel Financial Corp raised its stake in Goldman Sachs Group by 9.8% in the second quarter. Stifel Financial Corp now owns 76,729 shares of the investment management company’s stock worth $11,402,000 after buying an additional 6,878 shares during the last quarter. Krilogy Financial LLC raised its stake in Goldman Sachs Group by 227.8% in the second quarter. Krilogy Financial LLC now owns 1,213 shares of the investment management company’s stock valued at $180,000 after buying an additional 843 shares in the last quarter. Point72 Asia Hong Kong Ltd purchased a new stake in Goldman Sachs Group during the second quarter valued at approximately $267,000. Caisse DE Depot ET Placement DU Quebec raised its stake in Goldman Sachs Group by 35.5% in the second quarter. Caisse DE Depot ET Placement DU Quebec now owns 808,612 shares of the investment management company’s stock valued at $120,144,000 after buying an additional 211,800 shares in the last quarter. Finally, Highbridge Capital Management LLC purchased a new stake in Goldman Sachs Group during the second quarter valued at approximately $3,120,000. Hedge funds and other institutional investors own 70.77% of the company’s stock.
About Goldman Sachs Group
The Goldman Sachs Group, Inc is a bank holding company and a financial holding company. The Company operates through four segments: Investment Banking, Institutional Client Services, Investing & Lending, and Investment Management. The Company’s Investment Banking segment provides financial advisory services, which include advisory assignments with respect to mergers and acquisitions, divestitures, corporate defense activities, restructurings, spin-offs and risk management.
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