Oppenheimer Weighs in on Goldman Sachs Group Inc’s FY2017 Earnings (GS)

Goldman Sachs Group Inc (NYSE:GS) – Oppenheimer dropped their FY2017 EPS estimates for Goldman Sachs Group in a report released on Tuesday. Oppenheimer analyst C. Kotowski now forecasts that the investment management company will post earnings of $18.85 per share for the year, down from their previous forecast of $19.25. Oppenheimer also issued estimates for Goldman Sachs Group’s Q4 2017 earnings at $4.76 EPS.

A number of other equities analysts have also commented on GS. JMP Securities reissued a “market perform” rating on shares of Goldman Sachs Group in a report on Wednesday, September 13th. JPMorgan Chase & Co. set a $260.00 price objective on shares of Goldman Sachs Group and gave the company a “buy” rating in a research note on Friday, September 15th. Zacks Investment Research cut shares of Goldman Sachs Group from a “hold” rating to a “sell” rating in a research note on Thursday, September 21st. BMO Capital Markets reaffirmed a “hold” rating and issued a $202.00 price objective on shares of Goldman Sachs Group in a research note on Friday, October 6th. Finally, Credit Suisse Group cut shares of Goldman Sachs Group from an “outperform” rating to a “neutral” rating and upped their price objective for the company from $240.00 to $255.00 in a research note on Monday, October 9th. They noted that the move was a valuation call. Two equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $251.11.

Goldman Sachs Group (NYSE:GS) opened at $255.52 on Friday. The company has a market cap of $96,380.00, a price-to-earnings ratio of 13.27, a PEG ratio of 1.01 and a beta of 1.47. Goldman Sachs Group has a twelve month low of $209.62 and a twelve month high of $262.14. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 2.82.

Goldman Sachs Group (NYSE:GS) last issued its quarterly earnings results on Tuesday, October 17th. The investment management company reported $5.02 EPS for the quarter, topping the Zacks’ consensus estimate of $4.17 by $0.85. The firm had revenue of $8.33 billion for the quarter, compared to analyst estimates of $7.59 billion. Goldman Sachs Group had a net margin of 26.42% and a return on equity of 11.34%. The business’s revenue for the quarter was up 2.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $4.88 EPS.

Large investors have recently bought and sold shares of the company. Nomura Asset Management Co. Ltd. lifted its position in shares of Goldman Sachs Group by 9.2% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 91,950 shares of the investment management company’s stock worth $21,810,000 after purchasing an additional 7,736 shares during the period. Commonwealth Bank of Australia lifted its position in shares of Goldman Sachs Group by 5.9% in the 3rd quarter. Commonwealth Bank of Australia now owns 79,023 shares of the investment management company’s stock worth $18,738,000 after purchasing an additional 4,390 shares during the period. Quantbot Technologies LP lifted its position in shares of Goldman Sachs Group by 223.8% in the 2nd 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 during the period. Tudor Investment Corp ET AL lifted 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 purchasing an additional 4,714 shares during the period. Finally, YorkBridge Wealth Partners LLC lifted 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 purchasing an additional 152 shares during the period. 73.27% of the stock is owned by hedge funds and other institutional investors.

In other Goldman Sachs Group news, Director David A. Viniar sold 7,393 shares of the stock in a transaction on Friday, October 20th. The shares were sold at an average price of $245.18, for a total transaction of $1,812,615.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Lloyd C. Blankfein sold 20,794 shares of the stock in a transaction on 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. Insiders have sold a total of 135,177 shares of company stock valued at $32,435,160 in the last three months. 2.57% of the stock is currently owned by corporate insiders.

The company also recently declared a quarterly dividend, which was paid on Thursday, December 28th. Shareholders of record on Thursday, November 30th were given a dividend of $0.75 per share. The ex-dividend date was Wednesday, November 29th. This represents a $3.00 annualized dividend and a yield of 1.17%. Goldman Sachs Group’s payout ratio is currently 15.58%.

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About Goldman Sachs Group

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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