The New York-based leading global investment bank Goldman Sachs is expected to report its second-quarter earnings of $9.52 per share, which represents year-over-year growth of over 52% from $6.26 per share seen in the same quarter a year ago. It is worth noting that in the last two years, the world’s leading investment manager has surpassed market consensus expectations for profit and revenue most of the time. The better-than-expected number would help the stock hit new all-time highs. The company will report its earnings to result on Tuesday, July 13.
According to Zacks, The Goldman Sachs Group will report full-year earnings of $44.81 per share for the current financial year, with EPS estimates ranging from $40.95 to $49.50. For the next financial year, analysts expect that the business will report earnings of $35.81 per share, with EPS estimates ranging from $33.21 to $39.00.
“Our 2Q EPS est. increases to $10.05 from $9.53 on positive markets and higher equity investment revs. The equity investment line will likely again be a meaningful rev. swing factor (we model $1.4B vs. $3.1B in 1Q21). Post-DFAST, GS indicated that the dividend will increase to $2.00/qtr. from $1.25/qtr., but did not provide specifics on buybacks. We model 2Q share repurchase of $1.5B (vs. $2.2B cons.) and $2.5B/qtr. (vs.$2.3B/qtr. cons.) for the remainder of this year,” noted Daniel T. Fannon, equity analyst at Jefferies.
JPMorgan Long (Buy)
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