Goldman Sachs Group Inc (NYSE:GS) Expected to Announce Quarterly Sales of $9.49 Billion

Brokerages forecast that Goldman Sachs Group Inc (NYSE:GS) will announce $9.49 billion in sales for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for Goldman Sachs Group’s earnings. The lowest sales estimate is $9.32 billion and the highest is $9.67 billion. Goldman Sachs Group reported sales of $8.81 billion in the same quarter last year, which would suggest a positive year-over-year growth rate of 7.7%. The company is expected to issue its next quarterly earnings report on Monday, April 20th.

According to Zacks, analysts expect that Goldman Sachs Group will report full year sales of $37.21 billion for the current year, with estimates ranging from $36.83 billion to $37.80 billion. For the next fiscal year, analysts anticipate that the company will post sales of $38.89 billion, with estimates ranging from $38.35 billion to $39.50 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research firms that cover Goldman Sachs Group.

Goldman Sachs Group (NYSE:GS) last released its quarterly earnings results on Wednesday, January 15th. The investment management company reported $4.69 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $5.20 by ($0.51). The firm had revenue of $9.96 billion during the quarter, compared to analysts’ expectations of $8.56 billion. Goldman Sachs Group had a return on equity of 10.27% and a net margin of 15.70%. Goldman Sachs Group’s revenue for the quarter was up 23.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $6.04 earnings per share.

GS has been the topic of several recent analyst reports. Citigroup raised Goldman Sachs Group from a “neutral” rating to a “buy” rating and upped their target price for the company from $220.00 to $255.00 in a research report on Monday, December 16th. Oppenheimer decreased their price target on Goldman Sachs Group from $316.00 to $301.00 and set an “outperform” rating for the company in a research note on Wednesday, October 16th. Zacks Investment Research raised Goldman Sachs Group from a “sell” rating to a “hold” rating and set a $235.00 price target for the company in a report on Friday, November 8th. Piper Sandler boosted their price target on Goldman Sachs Group from to and gave the stock an “overweight” rating in a research note on Friday, January 10th. Finally, ValuEngine lowered shares of Goldman Sachs Group from a “hold” rating to a “sell” rating in a research report on Monday, November 11th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $261.53.

A number of institutional investors and hedge funds have recently bought and sold shares of GS. Advantage Investment Management LLC acquired a new stake in shares of Goldman Sachs Group in the third quarter worth $29,000. B & T Capital Management DBA Alpha Capital Management purchased a new position in shares of Goldman Sachs Group during the third quarter worth $32,000. Marquette Asset Management LLC lifted its position in Goldman Sachs Group by 91.5% during the third quarter. Marquette Asset Management LLC now owns 157 shares of the investment management company’s stock valued at $33,000 after purchasing an additional 75 shares during the period. Savior LLC acquired a new position in Goldman Sachs Group during the fourth quarter valued at $43,000. Finally, Manchester Financial Inc. acquired a new position in Goldman Sachs Group during the fourth quarter valued at $57,000. 69.61% of the stock is owned by institutional investors.

Shares of Goldman Sachs Group stock traded up $1.35 during trading on Friday, reaching $247.05. The company’s stock had a trading volume of 2,030,921 shares, compared to its average volume of 3,515,065. The company has a quick ratio of 0.78, a current ratio of 1.28 and a debt-to-equity ratio of 2.30. The company has a market cap of $88.33 billion, a price-to-earnings ratio of 11.76, a P/E/G ratio of 1.17 and a beta of 1.37. Goldman Sachs Group has a 1-year low of $180.73 and a 1-year high of $250.46. The company has a 50-day simple moving average of $232.57 and a two-hundred day simple moving average of $216.29.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 30th. Stockholders of record on Monday, March 2nd will be paid a $1.25 dividend. This represents a $5.00 annualized dividend and a dividend yield of 2.02%. The ex-dividend date of this dividend is Friday, February 28th. Goldman Sachs Group’s payout ratio is 23.78%.

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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