Goldman Sachs Grp. Got Some Good News

The business is expected to report its next quarterly earnings results before the market opens on Thursday, October 15th. The report announced that they will be reducing their earnings per share estimate for the third quarter of the company to $4.36 from $5.24 as the market declines of this summer would most probably have an adverse impact on I & L. Furthermore, it has been stated that the comments of some peers of Goldman Sachs (NYSE: GS) demonstrate that there will again be a reduction in industry FICC revenues.

As many as 13 brokerage firms have rated Goldman Sachs Group, Inc. Goldman Sachs Asset Management has been providing discretionary investment advisory services since 1988 and has investment professionals in all major financial centers around the world. The investment management company reported $4.75 earnings per share for the quarter, beating the consensus estimate of $3.70 by $1.05. All in all, the revenues of industry FICC trading had, out of the last 22 quarters, reduced in 17. During the same quarter a year ago , the business posted $4.10 EPS.

The research details the high returns of Goldman Sachs amid low multiples. In the year prior, the company issued $2.05 to its stock holders, or a 9.7561% difference.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. This represents a $2.60 annualized dividend and a yield of 1.42%. Finally, Vetr upgraded shares of Goldman Sachs from a buy rating to a strong-buy rating and set a $212.64 price target on the stock in a research report on Monday, August 24th. In a report issued on September 9, Merrill Lynch also upgraded the stock to Buy with a $220 price target.

Goldman Sachs Asset Management (GSAM) has entered the $3 trillion (£2 trillion) exchange traded fund market (ETF) with its first product launch. JPMorgan Chase & Co. upped their price target on shares of Goldman Sachs from $169.00 to $175.00 and gave the company an “underweight” rating in a research note on Saturday, July 18th. Macquarie reiterated a hold rating on shares of Goldman Sachs in a research report on Thursday, September 10th. However, moving past the last week’s announcement at the central bank and the future expectations of a lift-off, analysts remind investors of the bright prospects of bank stocks highlighting strong fundamentals.

In other Goldman Sachs news, CFO Harvey M. Schwartz sold 33,326 shares of the business’s stock in a transaction dated Friday, July 17th. The shares were sold at an average price of $211.17, for a total value of $7,037,451.42. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

In a chart comparing Morgan Stanley (NYSE:MS) and other large cap banks, Oppenheimer proves that Goldman Sachs has been above the ROE of the industry. Founded in 1869, Goldman Sachs is a leading global investment banking, securities and investment management firm that provides a wide range of financial services to a substantial and diversified client base that includes corporations, financial institutions, governments and high-net-worth individuals.