Oppenheimer Holdings Weighs in on Goldman Sachs Group Inc.’s Q4 2016 Earnings (GS)
Goldman Sachs Group Inc. (NYSE:GS) – Oppenheimer Holdings cut their Q4 2016 EPS estimates for Goldman Sachs Group in a research note issued to investors on Tuesday. Oppenheimer Holdings analyst C. Kotowski now forecasts that the firm will post earnings per share of $4.65 for the quarter, down from their prior forecast of $4.71. Oppenheimer Holdings currently has a “Buy” rating and a $222.00 price objective on the stock. Oppenheimer Holdings also issued estimates for Goldman Sachs Group’s FY2017 earnings at $18.22 EPS.
Goldman Sachs Group (NYSE:GS) last announced its earnings results on Tuesday, October 18th. The investment management company reported $4.88 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $3.79 by $1.09. The firm had revenue of $8.17 billion for the quarter, compared to the consensus estimate of $7.41 billion. Goldman Sachs Group had a return on equity of 8.83% and a net margin of 18.12%. The business’s quarterly revenue was up 19.0% compared to the same quarter last year. During the same period in the previous year, the business earned $4.51 EPS.
GS has been the topic of several other research reports. Vetr raised 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. Berenberg Bank assumed coverage on shares of Goldman Sachs Group in a report on Wednesday, July 13th. They issued a “hold” rating and a $140.00 price target on the stock. Citigroup Inc. reaffirmed a “buy” rating on shares of Goldman Sachs Group in a report on Wednesday, June 29th. Finally, Nomura reaffirmed a “buy” rating and issued a $197.00 price target (up previously from $195.00) on shares of Goldman Sachs Group in a report on Tuesday, July 19th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and ten have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $181.81.
Shares of Goldman Sachs Group (NYSE:GS) traded up 1.67% on Wednesday, reaching $175.52. The company’s stock had a trading volume of 2,529,780 shares. Goldman Sachs Group has a 12 month low of $138.20 and a 12 month high of $199.90. The firm has a market cap of $74.84 billion, a price-to-earnings ratio of 16.64 and a beta of 1.61. The stock has a 50 day moving average of $167.16 and a 200-day moving average of $160.04.
In other Goldman Sachs Group news, insider Sarah G. Smith sold 2,664 shares of the firm’s stock in a transaction dated Wednesday, August 31st. The shares were sold at an average price of $170.00, for a total value of $452,880.00. Following the completion of the sale, the insider now directly owns 13,075 shares in the company, valued at $2,222,750. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Edith W. Cooper sold 14,000 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at $5,586,943.74. The disclosure for this sale can be found here. 2.61% of the stock is currently owned by company insiders.
Institutional investors have recently made changes to their positions in the stock. Bessemer Group Inc. increased its position in shares of Goldman Sachs Group by 53.3% in the first quarter. Bessemer Group Inc. now owns 4,510 shares of the investment management company’s stock worth $708,000 after buying an additional 1,568 shares in the last quarter. BB&T Securities LLC increased its position in shares of Goldman Sachs Group by 54.2% in the first quarter. BB&T Securities LLC now owns 20,091 shares of the investment management company’s stock worth $3,153,000 after buying an additional 7,062 shares in the last quarter. Pegasus Partners Ltd. acquired a new position in shares of Goldman Sachs Group during the first quarter worth $712,000. Gardner Lewis Asset Management L P increased its position in shares of Goldman Sachs Group by 11.7% in the first quarter. Gardner Lewis Asset Management L P now owns 15,610 shares of the investment management company’s stock worth $2,450,000 after buying an additional 1,635 shares in the last quarter. Finally, Rafferty Asset Management LLC increased its position in shares of Goldman Sachs Group by 49.2% in the first quarter. Rafferty Asset Management LLC now owns 57,004 shares of the investment management company’s stock worth $8,948,000 after buying an additional 18,789 shares in the last quarter. 71.33% of the stock is owned by institutional investors and hedge funds.
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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