Goldman Sachs Group Inc (GS)

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Earnings Previews: Goldman Sachs...
By: 24/7 Wall St. | January 14, 2022

Before markets open on Tuesday, two more large financial firms are set to report fourth-quarter and full-year results.

Goldman Sachs

The smallest of the nation’s six biggest diversified banks, Goldman Sachs Group Inc. (NYSE: GS) has posted a 12-month share price gain of about 32%. Since peaking in early November, however, the shares have retreated 7.3%. Over the past two years, Goldman Sachs has exceeded sales estimates in all eight quarters and EPS estimates in six of those quarters. The exceptions were the first and second quarters of 2020.

Of the 27 analysts covering the stock, 16 have given it a rating of Buy or Strong Buy and the rest have a Hold rating. At a recent price of around $390.80 a share, the upside potential based on a median price target of $457.50 is 16.9%. At the high price target of $609, the implied upside is 55.8%.

Fourth-quarter revenue is forecast to come in at $11.92 billion, which would be a decline of about 11% sequentially and an increase of 3% year over year. Adjusted EPS are forecast at $11.92, down 20% sequentially and 5% lower year over year. The current estimates for fiscal 2021 call for revenue of $58.64 billion, up 31.6%, and EPS of $59.42, up nearly 78%.

The stock trades at 6.6 times expected 2021 EPS, 9.8 times estimated 2022 earnings of $39.97 and 9.4 times estimated 2023 earnings of $41.68. The stock’s 52-week range is $270.62 to $426.16. Goldman Sachs pays an annual dividend of $8.00 (yield of 1.98%). Total shareholder return for the past 12 months was 29.2%...

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