$7.63 Billion in Sales Expected for Goldman Sachs Group Inc (GS) This Quarter
Brokerages predict that Goldman Sachs Group Inc (NYSE:GS) will report $7.63 billion in sales for the current quarter, according to Zacks. Two analysts have made estimates for Goldman Sachs Group’s earnings, with the highest sales estimate coming in at $7.67 billion and the lowest estimate coming in at $7.60 billion. Goldman Sachs Group posted sales of $8.17 billion during the same quarter last year, which suggests a negative year over year growth rate of 6.6%. The firm is expected to issue its next quarterly earnings report before the market opens on Wednesday, January 17th.
According to Zacks, analysts expect that Goldman Sachs Group will report full year sales of $7.63 billion for the current fiscal year, with estimates ranging from $31.74 billion to $31.91 billion. For the next year, analysts anticipate that the company will report sales of $32.64 billion per share, with estimates ranging from $31.98 billion to $33.66 billion. Zacks’ sales averages are a mean average based on a survey of analysts that that provide coverage for Goldman Sachs Group.
Goldman Sachs Group (NYSE:GS) last issued its quarterly earnings data on Tuesday, October 17th. The investment management company reported $5.02 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $4.17 by $0.85. Goldman Sachs Group had a net margin of 26.42% and a return on equity of 11.34%. The company had revenue of $8.33 billion during the quarter, compared to the consensus estimate of $7.59 billion. During the same quarter in the prior year, the firm earned $4.88 earnings per share. The firm’s revenue was up 2.0% compared to the same quarter last year.
Shares of Goldman Sachs Group (NYSE:GS) traded up $1.43 during mid-day trading on Tuesday, hitting $258.46. 4,437,000 shares of the stock traded hands, compared to its average volume of 2,810,000. The company has a debt-to-equity ratio of 2.82, a current ratio of 0.90 and a quick ratio of 0.90. Goldman Sachs Group has a 52 week low of $209.62 and a 52 week high of $262.14. The company has a market capitalization of $97,490.00, a P/E ratio of 13.43, a price-to-earnings-growth ratio of 0.94 and a beta of 1.47.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 28th. Stockholders of record on Thursday, November 30th were given a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.16%. The ex-dividend date of this dividend was Wednesday, November 29th. Goldman Sachs Group’s dividend payout ratio (DPR) is presently 15.58%.
In other news, insider David M. Solomon sold 12,707 shares of Goldman Sachs Group stock in a transaction dated Friday, November 24th. The shares were sold at an average price of $237.94, for a total value of $3,023,503.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Lloyd C. Blankfein sold 20,794 shares of Goldman Sachs Group stock in a transaction dated Tuesday, November 21st. The shares were sold at an average price of $238.38, for a total transaction of $4,956,873.72. The disclosure for this sale can be found here. In the last three months, insiders sold 135,177 shares of company stock valued at $32,435,160. Insiders own 2.57% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the company. Janus Henderson Group PLC lifted its stake in shares of Goldman Sachs Group by 4,096.0% during the 2nd quarter. Janus Henderson Group PLC now owns 2,475,978 shares of the investment management company’s stock worth $549,415,000 after buying an additional 2,416,970 shares during the last quarter. The Manufacturers Life Insurance Company lifted its stake in shares of Goldman Sachs Group by 47.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 3,602,847 shares of the investment management company’s stock worth $799,472,000 after buying an additional 1,152,869 shares during the last quarter. Balyasny Asset Management LLC lifted its stake in shares of Goldman Sachs Group by 1,654.0% during the 2nd quarter. Balyasny Asset Management LLC now owns 1,034,680 shares of the investment management company’s stock worth $229,595,000 after buying an additional 975,690 shares during the last quarter. Capital World Investors lifted its stake in shares of Goldman Sachs Group by 10.5% during the 2nd quarter. Capital World Investors now owns 7,649,583 shares of the investment management company’s stock worth $1,697,442,000 after buying an additional 726,582 shares during the last quarter. Finally, Ameriprise Financial Inc. lifted its stake in shares of Goldman Sachs Group by 21.6% during the 2nd quarter. Ameriprise Financial Inc. now owns 2,121,193 shares of the investment management company’s stock worth $470,546,000 after buying an additional 377,435 shares during the last quarter. 73.28% of the stock is owned by institutional investors.
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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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