Goldman Sachs earnings edge down, beat expectations

Gladys Abbott
October 18, 2017

J P Morgan Chase & Co restated a buy rating on shares of Goldman Sachs Group, Inc. (The) in a research note on Monday, July 3rd.

Co. lifted its holdings in shares of Goldman Sachs Group, Inc. (The) from $230.00 to $240.00 and gave the stock an "outperform" rating in a report on Wednesday, June 28th. Specifically, Goldman Sachs missed earnings and revenue expectations for the first quarter, a rarity for the bank and its first earnings miss since 2015. Jacobus Wealth Management holds 0.03% of its portfolio in Goldman Sachs Group Inc (NYSE:GS) for 500 shares. The rating was maintained by Oppenheimer on Tuesday, July 18 with "Buy". Vanguard Group Inc. lifted its stake in shares of Goldman Sachs Group, Inc. (The) in a research report on Tuesday, July 11th.

Among 6 analysts covering WGL Holdings (NYSE:WGL), 0 have Buy rating, 1 Sell and 5 Hold. (The) now has an average rating of "Hold" and a consensus price target of $240.09. Goldman Sachs Group Inc (NYSE:GS) has risen 39.23% since October 16, 2016 and is uptrending. (The) from a "c+" rating to a "b" rating in a report on Friday. Vident Advisory Limited Liability Company has invested 0.03% in Goldman Sachs Group Inc (NYSE:GS).

Goldman shares were off 0.3 percent at $241.69 in early Tuesday trades. Chicago Partners Investment Group LLC increased its position in Goldman Sachs Group, Inc. The company has market cap of $22.00 million. (The) (NYSE:GS) last released its quarterly earnings data on Tuesday, October 17th. Goldman Sachs generated $8.33 billion in revenue during the third quarter, handily beating analyst expectations of $7.54 billion.

Return on equity came to 10.9 percent for the year - 10.3 percent year to date - against the 10 percent cost of capital.

Compensation levels remained steady at $3.17 billion while non-compensation expenses rose 4 percent annualized and 2 percent quarterly.

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Net earnings applicable to common shareholders for the third-quarter of 2017 decreased 3 percent to $2.04 billion from the prior year's $2.10 billion, while quarterly earnings per share increased to $5.02 from $4.88 in the third quarter of 2016.

Goldman Sachs Group, Inc. has a 12 month low of $168.45 and a 12 month high of $255.15.

They expect $4.31 EPS, down 13.23% or $0.57 from last year's $4.88 per share.

Investors sentiment increased to 1.08 in 2017 Q2. (The) news, insider David M. Solomon sold 3,260 shares of the business's stock in a transaction dated Monday, August 7th.

Total shares held by institutions as of the most recent company filings are 302,442,320 with a reported 15,526,483 bought and 21,087,449 sold. Following the sale, the insider now owns 177,594 shares in the company, valued at approximately $41,128,994.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The shares were sold at an average price of $227.79, for a total value of $1,045,556.10. Following the completion of the transaction, the director now directly owns 854,925 shares of the company's stock, valued at approximately $194,743,365.75. The disclosure for this sale can be found here. In the last quarter, insiders have sold 25,535 shares of company stock valued at $5,956,868. Sigma Planning Corporation owns 2,240 shares. It improved, as 96 investors sold GS shares while 350 reduced holdings. The legal version of this piece can be viewed at https://stocknewstimes.com/2017/10/17/icon-advisers-inc-co-acquires-37100-shares-of-goldman-sachs-group-inc-the-gs.html. The biggest holder now is Henry M. Paulson, Jr who owns 3,230,024 shares (0.83% of those outstanding), whilst John A. Thain holds 2,134,061 (0.55% of shares outstanding) and Mr. Robert Steven Kaplan holds 2,002,500 (0.52% of shares outstanding). BlackRock Inc. now owns 24,569,536 shares of the investment management company's stock valued at $5,644,114,000 after purchasing an additional 23,847,154 shares during the period.

COPYRIGHT VIOLATION WARNING: "Goldman Sachs Group, Inc". (The) by 0.3% in the 1st quarter. New England Asset Management Inc. now owns 2,331,063 shares of the investment management company's stock valued at $535,492,000 after purchasing an additional 1,900,000 shares during the period.

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