Oppenheimer Analysts Lower Earnings Estimates for Goldman Sachs Group Inc (NYSE:GS)

Goldman Sachs Group Inc (NYSE:GS) – Equities researchers at Oppenheimer reduced their Q2 2019 earnings per share (EPS) estimates for Goldman Sachs Group in a research note issued on Monday, April 15th, Zacks Investment Research reports. Oppenheimer analyst C. Kotowski now anticipates that the investment management company will post earnings of $5.84 per share for the quarter, down from their prior estimate of $6.10. Oppenheimer has a “Outperform” rating and a $312.00 price objective on the stock. Oppenheimer also issued estimates for Goldman Sachs Group’s Q3 2019 earnings at $6.21 EPS, FY2019 earnings at $23.54 EPS and FY2020 earnings at $25.44 EPS.

A number of other research firms also recently issued reports on GS. TheStreet raised shares of Goldman Sachs Group from a “c+” rating to a “b-” rating in a research note on Tuesday, February 5th. Societe Generale downgraded shares of Goldman Sachs Group from a “hold” rating to a “sell” rating in a research note on Friday, February 1st. Zacks Investment Research downgraded shares of Goldman Sachs Group from a “hold” rating to a “sell” rating in a research note on Wednesday, April 10th. BMO Capital Markets dropped their price objective on shares of Goldman Sachs Group from $262.00 to $260.00 and set a “market perform” rating for the company in a report on Tuesday, April 16th. Finally, ValuEngine upgraded shares of Goldman Sachs Group from a “strong sell” rating to a “sell” rating in a report on Wednesday, January 16th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $239.91.

Shares of Goldman Sachs Group stock traded up $0.42 on Wednesday, reaching $202.05. The company had a trading volume of 2,089,384 shares, compared to its average volume of 2,735,861. The company has a market capitalization of $73.76 billion, a price-to-earnings ratio of 8.00, a price-to-earnings-growth ratio of 1.29 and a beta of 1.24. Goldman Sachs Group has a 52-week low of $151.70 and a 52-week high of $245.88. The company has a debt-to-equity ratio of 2.84, a quick ratio of 0.92 and a current ratio of 0.86.

Goldman Sachs Group (NYSE:GS) last released its quarterly earnings results on Monday, April 15th. The investment management company reported $5.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.74 by $0.97. The business had revenue of $8.81 billion for the quarter, compared to the consensus estimate of $8.89 billion. Goldman Sachs Group had a net margin of 25.13% and a return on equity of 12.79%. The business’s revenue was down 12.6% on a year-over-year basis. During the same period in the previous year, the firm earned $6.95 EPS.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 27th. Investors of record on Thursday, May 30th will be issued a $0.85 dividend. The ex-dividend date is Wednesday, May 29th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 1.68%. This is a boost from Goldman Sachs Group’s previous quarterly dividend of $0.80. Goldman Sachs Group’s payout ratio is 12.66%.

In related news, EVP Dane E. Holmes sold 1,489 shares of Goldman Sachs Group stock in a transaction that occurred on Wednesday, February 20th. The shares were sold at an average price of $198.31, for a total value of $295,283.59. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.41% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Capital Financial Planning LLC purchased a new stake in shares of Goldman Sachs Group during the 4th quarter worth approximately $26,000. Toth Financial Advisory Corp lifted its position in shares of Goldman Sachs Group by 100.0% during the 1st quarter. Toth Financial Advisory Corp now owns 140 shares of the investment management company’s stock worth $27,000 after buying an additional 70 shares during the last quarter. Liberty Wealth Management LLC purchased a new stake in shares of Goldman Sachs Group during the 4th quarter worth approximately $29,000. Loeb Partners Corp purchased a new stake in shares of Goldman Sachs Group during the 4th quarter worth approximately $33,000. Finally, Riverview Trust Co purchased a new stake in shares of Goldman Sachs Group during the 4th quarter worth approximately $33,000. Institutional investors own 70.38% of the company’s stock.

Goldman Sachs Group Company Profile

The Goldman Sachs Group, Inc operates as an investment banking, securities, and investment management company worldwide. It operates in four segments: Investment Banking, Institutional Client Services, Investing & Lending, and Investment Management. The Investment Banking segment provides financial advisory services, including strategic advisory assignments related to mergers and acquisitions, divestitures, corporate defense activities, restructurings, spin-offs, and risk management; and underwriting services, such as debt and equity underwriting of public offerings and private placements of various securities and other financial instruments, as well as derivative transactions with public and private sector clients.

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