Oppenheimer Research Analysts Boost Earnings Estimates for Goldman Sachs (GS)

Goldman Sachs (NYSE:GS) – Investment analysts at Oppenheimer lifted their FY2018 EPS estimates for Goldman Sachs in a research report issued to clients and investors on Tuesday, April 17th. Oppenheimer analyst C. Kotowski now anticipates that the investment management company will post earnings per share of $23.41 for the year, up from their prior forecast of $21.12. Oppenheimer has a “Outperform” rating and a $308.00 price target on the stock. Oppenheimer also issued estimates for Goldman Sachs’ FY2019 earnings at $25.64 EPS.

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Several other research analysts have also recently issued reports on the company. ValuEngine cut Goldman Sachs from a “buy” rating to a “hold” rating in a report on Saturday. Zacks Investment Research raised Goldman Sachs from a “hold” rating to a “strong-buy” rating and set a $292.00 price target on the stock in a report on Friday. Keefe, Bruyette & Woods reaffirmed a “hold” rating on shares of Goldman Sachs in a report on Wednesday. Credit Suisse Group upped their price target on Goldman Sachs from $274.00 to $280.00 and gave the company a “neutral” rating in a report on Wednesday. Finally, BMO Capital Markets reaffirmed a “hold” rating and issued a $245.00 price target (up previously from $221.00) on shares of Goldman Sachs in a report on Wednesday. Three analysts have rated the stock with a sell rating, thirteen have given a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. Goldman Sachs has an average rating of “Hold” and a consensus price target of $266.78.

NYSE GS opened at $251.96 on Friday. The firm has a market capitalization of $96,491.30, a price-to-earnings ratio of 12.75, a P/E/G ratio of 1.01 and a beta of 1.37. Goldman Sachs has a 1 year low of $209.62 and a 1 year high of $275.31. The company has a current ratio of 0.92, a quick ratio of 0.93 and a debt-to-equity ratio of 2.69.

Goldman Sachs (NYSE:GS) last posted its quarterly earnings results on Tuesday, April 17th. The investment management company reported $6.95 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $5.58 by $1.37. The company had revenue of $10.04 billion for the quarter, compared to analysts’ expectations of $8.73 billion. Goldman Sachs had a return on equity of 12.10% and a net margin of 14.27%. The firm’s revenue was up 25.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $5.15 earnings per share.

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 28th. Shareholders of record on Thursday, May 31st will be paid a dividend of $0.80 per share. This is an increase from Goldman Sachs’s previous quarterly dividend of $0.75. This represents a $3.20 annualized dividend and a yield of 1.27%. The ex-dividend date of this dividend is Wednesday, May 30th. Goldman Sachs’s payout ratio is 15.18%.

In other news, insider R. Martin Chavez sold 11,829 shares of the company’s stock in a transaction on Wednesday, January 31st. The shares were sold at an average price of $268.73, for a total value of $3,178,807.17. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider David M. Solomon sold 21,252 shares of the company’s stock in a transaction on Monday, January 29th. The stock was sold at an average price of $271.65, for a total transaction of $5,773,105.80. The disclosure for this sale can be found here. Over the last three months, insiders have sold 66,048 shares of company stock worth $17,668,347. Company insiders own 2.57% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. CAPROCK Group Inc. increased its stake in shares of Goldman Sachs by 8.7% in the fourth quarter. CAPROCK Group Inc. now owns 2,551 shares of the investment management company’s stock worth $656,000 after acquiring an additional 205 shares during the last quarter. Alpha Windward LLC increased its stake in shares of Goldman Sachs by 24.2% in the fourth quarter. Alpha Windward LLC now owns 1,062 shares of the investment management company’s stock worth $271,000 after acquiring an additional 207 shares during the last quarter. Segment Wealth Management LLC increased its stake in shares of Goldman Sachs by 1.1% in the fourth quarter. Segment Wealth Management LLC now owns 19,279 shares of the investment management company’s stock worth $4,912,000 after acquiring an additional 210 shares during the last quarter. Doyle Wealth Management increased its stake in shares of Goldman Sachs by 0.5% in the fourth quarter. Doyle Wealth Management now owns 46,078 shares of the investment management company’s stock worth $11,739,000 after acquiring an additional 211 shares during the last quarter. Finally, Quadrant Capital Management LLC increased its stake in shares of Goldman Sachs by 1.7% in the fourth quarter. Quadrant Capital Management LLC now owns 12,807 shares of the investment management company’s stock worth $3,263,000 after acquiring an additional 215 shares during the last quarter. 73.21% of the stock is currently owned by institutional investors and hedge funds.

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Goldman Sachs Company Profile

The Goldman Sachs Group, Inc operates as an investment banking, securities, and investment management company worldwide. It operates through 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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