$7.79 Billion in Sales Expected for Goldman Sachs Group Inc (GS) This Quarter
Wall Street analysts expect Goldman Sachs Group Inc (NYSE:GS) to report $7.79 billion in sales for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for Goldman Sachs Group’s earnings, with the lowest sales estimate coming in at $7.62 billion and the highest estimate coming in at $7.92 billion. Goldman Sachs Group posted sales of $8.17 billion in the same quarter last year, which would indicate a negative year-over-year growth rate of 4.7%. The company is scheduled to announce its next quarterly earnings report on Wednesday, January 17th.
According to Zacks, analysts expect that Goldman Sachs Group will report full-year sales of $7.79 billion for the current year, with estimates ranging from $31.69 billion to $32.16 billion. For the next financial year, analysts anticipate that the company will post sales of $32.68 billion per share, with estimates ranging from $31.98 billion to $33.16 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that cover Goldman Sachs Group.
Goldman Sachs Group (NYSE:GS) last posted its earnings results on Tuesday, October 17th. The investment management company reported $5.02 EPS for the quarter, beating the consensus estimate of $4.17 by $0.85. Goldman Sachs Group had a return on equity of 11.34% and a net margin of 26.42%. The company had revenue of $8.33 billion for the quarter, compared to the consensus estimate of $7.59 billion. During the same quarter in the prior year, the business earned $4.88 earnings per share. The firm’s revenue for the quarter was up 2.0% on a year-over-year basis.
In related news, VP Gregory K. Palm sold 4,620 shares of the stock in a transaction on Tuesday, November 21st. The shares were sold at an average price of $238.99, for a total transaction of $1,104,133.80. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Vice Chairman Richard J. Gnodde sold 4,951 shares of the stock in a transaction on Wednesday, October 18th. The stock was sold at an average price of $239.95, for a total transaction of $1,187,992.45. The disclosure for this sale can be found here. In the last quarter, insiders have sold 135,177 shares of company stock valued at $32,435,160. 2.57% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently modified their holdings of the company. Quantbot Technologies LP raised its holdings in Goldman Sachs Group by 223.8% during the second quarter. Quantbot Technologies LP now owns 39,237 shares of the investment management company’s stock worth $8,706,000 after purchasing an additional 27,121 shares in the last quarter. Tudor Investment Corp ET AL boosted its position in shares of Goldman Sachs Group by 29.9% in the 2nd quarter. Tudor Investment Corp ET AL now owns 20,480 shares of the investment management company’s stock worth $4,545,000 after buying an additional 4,714 shares in the last quarter. YorkBridge Wealth Partners LLC boosted its position in shares of Goldman Sachs Group by 23.8% in the 2nd quarter. YorkBridge Wealth Partners LLC now owns 792 shares of the investment management company’s stock worth $180,000 after buying an additional 152 shares in the last quarter. Bank of Montreal Can boosted its position in shares of Goldman Sachs Group by 33.1% in the 2nd quarter. Bank of Montreal Can now owns 392,464 shares of the investment management company’s stock worth $87,090,000 after buying an additional 97,532 shares in the last quarter. Finally, Cornerstone Investment Partners LLC acquired a new position in Goldman Sachs Group in the 2nd quarter valued at about $42,536,000. Institutional investors and hedge funds own 73.35% of the company’s stock.
Goldman Sachs Group (NYSE GS) traded up $7.55 during trading on Wednesday, hitting $257.68. The stock had a trading volume of 3,464,200 shares, compared to its average volume of 3,272,072. Goldman Sachs Group has a 52 week low of $209.62 and a 52 week high of $258.20. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 2.82. The firm has a market capitalization of $94,349.41, a P/E ratio of 13.03, a price-to-earnings-growth ratio of 1.27 and a beta of 1.47.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 28th. Investors of record on Thursday, November 30th will be paid a dividend of $0.75 per share. The ex-dividend date of this dividend is Wednesday, November 29th. This represents a $3.00 annualized dividend and a dividend yield of 1.16%. Goldman Sachs Group’s dividend payout ratio (DPR) is presently 15.63%.
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Goldman Sachs Group Company Profile
The Goldman Sachs Group, Inc is an investment banking, securities and investment management company that provides a range of financial services to corporations, financial institutions, governments and individuals. The Company operates in four business segments: Investment Banking, Institutional Client Services, Investing & Lending, and Investment Management.
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