Analysts Adjust Their Expectations Ahead of Goldman Sachs Earnings
Goldman Sachs Earnings Are On The Horizon
The Goldman Sachs Group, Inc. (GS) is gearing up to disclose its earnings results for the second quarter soon. Market watchers are keenly anticipating the earnings report, as analysts project significant improvements compared to the previous year.
Projected Earnings and Revenue Insights
Analysts predict that Goldman Sachs will unveil quarterly earnings of $9.68 per share, a noticeable increase from $8.62 per share reported during the same quarter last year. Furthermore, the company is expected to generate quarterly revenue of approximately $13.54 billion, which represents an increase from $12.73 billion recorded a year earlier.
Dividend Increase Announcement
In an exciting development for shareholders, Goldman Sachs has announced its intention to boost the common stock dividend from $3.00 to $4.00 per share starting July 1. This move signifies the company's commitment to returning value to its investors.
Stock Performance and Analyst Sentiment
Recently, Goldman Sachs shares experienced a slight decline of 0.1%, closing at $696.56 on the day prior to the earnings announcement. This minor fluctuation reflects the market's mixed sentiments leading up to the earnings release.
Analysts’ Recommendations and Forecast Adjustments
As analysts revise their expectations for Goldman Sachs, here are some notable ratings and adjustments:
- HSBC analyst Saul Martinez downgraded the stock from Hold to Reduce, while raising the price target from $558 to $627, showcasing an accuracy rate of 68%.
- Mike Mayo from Wells Fargo maintained an Overweight rating and increased the price target from $650 to $785, achieving a 70% accuracy rate.
- Glenn Schorr of Evercore ISI Group gave an Outperform rating and raised the price target from $630 to $715, with a 75% accuracy rate.
- Betsy Graseck of Morgan Stanley maintained an Equal-Weight rating and slightly increased the price target from $570 to $592, enjoying an accuracy rate of 61%.
- Gerard Cassidy from RBC Capital lowered the price target from $610 to $560 but kept a Sector Perform rating, with an accuracy rate of 78%.
Considering these insights, potential investors may wonder about the stock's prospects. Analysts have a varied outlook, which can be helpful for those contemplating buying GS stock.
Final Thoughts on Goldman Sachs' Financial Outlook
Overall, as Goldman Sachs prepares to unveil its financial results, analysts are heavily scrutinizing the company's performance metrics. The anticipated rise in earnings and revenue, combined with the dividend increase, places Goldman Sachs in a favorable position in the eyes of many financial experts.
Frequently Asked Questions
What are the expected earnings for Goldman Sachs?
Analysts anticipate that Goldman Sachs will report earnings of $9.68 per share for the upcoming quarter.
How much did Goldman Sachs increase its dividend?
Goldman Sachs plans to raise its common stock dividend from $3.00 to $4.00 per share.
What was the closing stock price before the earnings report?
Goldman Sachs shares closed at $696.56 just before the earnings announcement.
How have analysts rated Goldman Sachs recently?
Analysts have issued various ratings, including upgrades and downgrades, reflecting differing views on the stock's future performance.
What is the importance of the earnings call?
The earnings call provides valuable insights into the company's financial health and strategy, which can greatly influence investor sentiment.
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