Oppenheimer Equities Analysts Decrease Earnings Estimates for Goldman Sachs Group Inc (GS)

Goldman Sachs Group Inc (NYSE:GS) – Research analysts at Oppenheimer cut their FY2017 earnings per share estimates for shares of Goldman Sachs Group in a research report issued to clients and investors on Tuesday. Oppenheimer analyst C. Kotowski now expects 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.

Other analysts have also issued reports about the company. TheStreet lowered Goldman Sachs Group from a “b” rating to a “c+” rating in a report on Thursday, September 7th. JMP Securities reaffirmed a “market perform” rating on shares of Goldman Sachs Group in a report on Wednesday, September 13th. JPMorgan Chase & Co. set a $260.00 target price on Goldman Sachs Group and gave the company a “buy” rating in a report on Friday, September 15th. Zacks Investment Research downgraded Goldman Sachs Group from a “hold” rating to a “sell” rating in a research note on Thursday, September 21st. Finally, BMO Capital Markets reiterated a “hold” rating and issued a $202.00 price objective on shares of Goldman Sachs Group in a research note on Friday, October 6th. Two research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. Goldman Sachs Group presently has an average rating of “Hold” and an average target price of $251.11.

Goldman Sachs Group (GS) opened at $256.83 on Friday. The stock has a market capitalization of $96,880.00, a PE ratio of 13.34, a PEG ratio of 1.01 and a beta of 1.47. 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.

Goldman Sachs Group (NYSE:GS) last released its quarterly earnings data on Tuesday, October 17th. The investment management company reported $5.02 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $4.17 by $0.85. The company had revenue of $8.33 billion for the quarter, compared to the consensus estimate of $7.59 billion. Goldman Sachs Group had a return on equity of 11.34% and a net margin of 26.42%. Goldman Sachs Group’s revenue for the quarter was up 2.0% on a year-over-year basis. During the same quarter last year, the business posted $4.88 EPS.

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

In other news, Vice Chairman Richard J. Gnodde sold 4,951 shares of the stock in a transaction on Wednesday, October 18th. The shares were sold at an average price of $239.95, for a total value of $1,187,992.45. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider David M. Solomon sold 12,707 shares of the stock in a transaction on Friday, November 24th. The stock was sold at an average price of $237.94, for a total transaction of $3,023,503.58. The disclosure for this sale can be found here. Insiders have sold a total of 135,177 shares of company stock worth $32,435,160 in the last 90 days. 2.57% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of GS. Vanguard Group Inc. raised its stake in Goldman Sachs Group by 1.3% during the second quarter. Vanguard Group Inc. now owns 24,072,777 shares of the investment management company’s stock worth $5,341,749,000 after purchasing an additional 304,400 shares during the period. Capital World Investors grew its holdings in shares of Goldman Sachs Group by 10.5% in the second quarter. Capital World Investors now owns 7,649,583 shares of the investment management company’s stock valued at $1,697,442,000 after purchasing an additional 726,582 shares in the last quarter. Capital Research Global Investors grew its holdings in shares of Goldman Sachs Group by 4.0% in the second quarter. Capital Research Global Investors now owns 6,918,409 shares of the investment management company’s stock valued at $1,535,195,000 after purchasing an additional 265,784 shares in the last quarter. Greenhaven Associates Inc. lifted its position in shares of Goldman Sachs Group by 2.5% during the 2nd quarter. Greenhaven Associates Inc. now owns 3,793,287 shares of the investment management company’s stock worth $841,730,000 after buying an additional 91,200 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in Goldman Sachs Group by 10.9% in the 3rd quarter. Bank of New York Mellon Corp now owns 3,618,896 shares of the investment management company’s stock valued at $858,366,000 after purchasing an additional 356,956 shares during the last quarter. 73.27% of the stock is currently owned by institutional investors and hedge funds.

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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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