Oppenheimer Analysts Lower Earnings Estimates for Goldman Sachs Group Inc (GS)
Goldman Sachs Group Inc (NYSE:GS) – Research analysts at Oppenheimer dropped their Q1 2018 earnings per share (EPS) estimates for shares of Goldman Sachs Group in a report issued on Wednesday. Oppenheimer analyst C. Kotowski now expects that the investment management company will earn $5.34 per share for the quarter, down from their previous forecast of $5.41. Oppenheimer currently has a “Outperform” rating and a $313.00 target price on the stock. Oppenheimer also issued estimates for Goldman Sachs Group’s Q2 2018 earnings at $4.72 EPS, Q3 2018 earnings at $5.25 EPS and Q4 2018 earnings at $5.85 EPS.
Other equities analysts also recently issued research reports about the company. BMO Capital Markets dropped their target price on Goldman Sachs Group to $221.00 and set a “market perform” rating on the stock in a report on Thursday. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $240.00 target price on shares of Goldman Sachs Group in a report on Thursday, October 19th. Wells Fargo & Co reiterated an “outperform” rating and issued a $295.00 target price (up previously from $265.00) on shares of Goldman Sachs Group in a report on Wednesday, December 20th. Vertical Group downgraded Goldman Sachs Group from a “hold” rating to a “sell” rating in a report on Monday, November 6th. Finally, Zacks Investment Research upgraded Goldman Sachs Group from a “hold” rating to a “buy” rating and set a $291.00 target price on the stock in a report on Tuesday, December 19th. Two research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. Goldman Sachs Group presently has an average rating of “Hold” and an average price target of $254.67.
Goldman Sachs Group (NYSE:GS) last posted its quarterly earnings data on Wednesday, January 17th. The investment management company reported $5.68 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $4.90 by $0.78. The firm had revenue of $7.83 billion for the quarter, compared to the consensus estimate of $7.64 billion. Goldman Sachs Group had a return on equity of 11.47% and a net margin of 13.36%. The business’s revenue for the quarter was down 4.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $5.08 EPS.
A number of institutional investors have recently made changes to their positions in GS. Janus Henderson Group PLC boosted its position in Goldman Sachs Group by 4,096.0% during the second quarter. Janus Henderson Group PLC now owns 2,475,978 shares of the investment management company’s stock worth $549,415,000 after purchasing an additional 2,416,970 shares during the period. The Manufacturers Life Insurance Company boosted its position in shares of Goldman Sachs Group by 47.1% in the second quarter. The Manufacturers Life Insurance Company now owns 3,602,847 shares of the investment management company’s stock valued at $799,472,000 after acquiring an additional 1,152,869 shares during the period. Balyasny Asset Management LLC boosted its position in shares of Goldman Sachs Group by 1,654.0% in the second quarter. Balyasny Asset Management LLC now owns 1,034,680 shares of the investment management company’s stock valued at $229,595,000 after acquiring an additional 975,690 shares during the period. Capital World Investors boosted its position 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 acquiring an additional 726,582 shares during the period. Finally, Ameriprise Financial Inc. boosted its position in shares of Goldman Sachs Group by 21.6% in the second quarter. Ameriprise Financial Inc. now owns 2,121,193 shares of the investment management company’s stock valued at $470,546,000 after acquiring an additional 377,435 shares during the period. 73.28% of the stock is owned by hedge funds and other institutional investors.
In other Goldman Sachs Group news, insider David M. Solomon sold 2,400 shares of the company’s stock in a transaction that occurred on Monday, November 13th. The stock was sold at an average price of $238.49, for a total transaction of $572,376.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director David A. Viniar sold 25,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 21st. The stock was sold at an average price of $238.02, for a total value of $5,950,500.00. The disclosure for this sale can be found here. In the last three months, insiders sold 97,833 shares of company stock valued at $23,309,552. 2.57% of the stock is currently owned by company insiders.
The company also recently declared a quarterly dividend, which will be paid on Thursday, March 29th. Investors of record on Thursday, March 1st will be paid a $0.75 dividend. The ex-dividend date is Wednesday, February 28th. This represents a $3.00 annualized dividend and a dividend yield of 1.17%. Goldman Sachs Group’s payout ratio is 34.60%.
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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