Goldman Sachs' profits miss forecasts as trading struggled
Apr 20 2017
The results are striking, as JPMorgan, Citigroup, Wells Fargo, and Bank of America all reported earnings ahead of analyst estimates.
Goldman Sachs's share price surged 32 per cent from the U.S. presidential election through the end of past year on optimism Trump would usher in pro-growth economic policies, and as firm alumni including former President Gary Cohn took up key positions in the administration.
Now the shares of The Goldman Sachs Group, Inc. Goldman Sachs Group, Inc.
Goldman Sachs is still an incredible institution and not one to bet against over the long run. BP PLC boosted its position in Goldman Sachs Group, Inc. The stock's 50 day moving average is $238.83 and its 200-day moving average is $220.28.
The company holds a market cap of 89131.48 with a P/E of 13.65 indicating whether its share price properly reflects its performance. Goldman Sachs Group's dividend payout ratio is 15.89%. It helps investors in determining whether buying, selling or holding on to a stock would be beneficial for them.
Goldman Sachs Group Inc (NYSE:GS) announced a quarterly dividend on Tuesday, April 18th.
Goldman Sachs delivered net earnings of $8.03 billion or earnings of $5.15 a share for the first quarter.
Goldman noted that its return on equity (RoE) in the latest period was 11.4%. Additionally, Thompson Reuters predicted revenue of $8.45 billion, which the banks actual revenue of $8.03 billion failed to meet.
Net income nearly doubled to $2.26 billion, or $5.15 a share, from $1.14 billion, or $2.68, a year earlier, the company said in the statement. Goldman Sachs Group's quarterly revenue was up 26.6% compared to the same quarter previous year. The company posted revenues of $22.248 billion, which outpaced our consensus estimate of $21.540 billion, and earnings of 45 cents per share, which beat our Zacks Consensus Estimate of 35 cents. Shareholders of record on Thursday, June 1st will be paid a $0.75 dividend. This represents a $2.60 annualized dividend and a yield of 1.16%. Goldman Sachs Group's dividend payout ratio (DPR) is now 15.89%. In comparison, Goldman Sachs' rivals have posted double-digit gains in fixed-income revenue.
WARNING: This news story was published by Transcript Daily and is the sole property of of Transcript Daily. Goldman Sachs Group Inc has a 52 week low of $138.20 and a 52 week high of $255.15. Analyst's mean target price for GS is $253.00 while analysts mean recommendation is 2.60. Following the sale, the insider now directly owns 66,249 shares of the company's stock, valued at approximately $15,561,227.61. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.
In related news, insider Harvey M. Schwartz sold 25,000 shares of the firm's stock in a transaction that occurred on Thursday, January 19th. But it is far short of the $5.31 per share analysts had forecast. For the last period, the company reported quarter over quarter EPS growth of -56.10% and quarter over quarter sales growth of -0.30%. In BAC's options pits, put buying has been picking up speed in recent weeks, per the stock's 10-day International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) put/call volume ratio of 0.40 - in the elevated 86th annual percentile. Parallel Advisors LLC purchased a new stake in shares of Goldman Sachs Group during the fourth quarter worth about $121,000.
At the time of writing, Goldman Sachs' shares were down three per cent in pre-market trading, at $219.64.