The following Goldman Sachs (GS – Get Report) conference call took place on October 15, 2015, 09:30 AM ET.
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But Karen Petrou at Federal Financial Analytics said the ground is gradually shifting under Goldman Sachs. The stock has a 50-day moving average of $181.94 and a 200-day moving average of $198.19. The stock has a market cap of $83.70 billion and a PE ratio of 10.98.
Goldman Sachs has missed forecasts for the first time in four years after a slump in earnings at the Wall Street giant’s powerhouse bond trading division. This was down from the $2.24 billion in net income that it reported during the same time a year ago. Deal volume in the first three quarters totaled $1.02 trillion, up 11 percent from the same period previous year, Thomson Reuters data show.
When Morgan Stanley posts third quarter earnings on Monday, Citigroup analyst Keith Horowitz estimates that it will have cut its spending on compensation by 7 percent for the quarter.
In the bank’s investing and lending business, revenues dropped 60% year over year and 63% sequentially.
A few of the analysts have been dismissed, while others are in the process of leaving the firm. This is Dane Holmes, Head of Investor Relations at Goldman Sachs. Earnings per diluted share $10.84 and our annualized return on common equity was 8.8%. Finally, Susquehanna restated a “neutral” rating and set a $221.00 target price on shares of Goldman Sachs in a report on Friday, July 10th. The company presently has a consensus rating of “Hold” and an average target price of $102.00. In this transaction, 33,326 shares were sold at $211.3 per share. This is determined by dividing its current price per share by its earnings per share. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The most bullish analyst sees the stock heading towards $245 within the next 12 months while the most bearish sees the shares going to $175 in that same timeframe.
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Expenses in the third-quarter were higher-than-expected, due to elevated legal costs ($416 million). Following the completion of the transaction, the vice president now owns 33,656 shares in the company, valued at approximately $3,001,442.08. The disclosure for this purchase can be found here. This was Goldman Sachs’s biggest year-over-year decline since 2013. The Company is a global investment banking, securities and investment management company that provides a range of financial services to a diversified client base that include corporations, financial institutions, Governments and individuals. Goldman’s chief financial officer, Harvey M Schwartz, acknowledged the difficulties, but he defended the company’s long-term strategy, which has been to stick with hard businesses as other competitors scale back.
