Earnings Previews: Goldman Sachs Group Inc. (NYSE: GS) By: 24/7 Wall St. | July 14, 2022
• Here is a look at what to expect from four companies on deck to report quarterly results Monday morning.
Goldman Sachs
Goldman Sachs Group Inc. (NYSE: GS) has posted a 12-month share price decline of about 22%. For the year to date, the stock is down 28%. The slowdown in IPOs and M&A likely will hit the firm’s investment banking revenue harder than the rise in net interest income will boost its overall revenue. Trading revenue should be solid, and what the bank projects for the rest of the year will be critical for investors.
Of the 27 analysts covering Goldman Sachs, 17 have a rating of Buy or Strong Buy and the rest have Hold ratings. At a share price of around $290.20, the upside potential based on a median price target of $381.00 is 31.3%. At the high price target of $505.00, the implied upside is 74.0%.
Second-quarter revenue is forecast to come in at $10.77 billion, a decline of about 16.7% sequentially and a drop of 30% year over year. Adjusted EPS are forecast at $6.70, down almost 38% sequentially and 55.4% lower year over year. The forecast for the 2022 fiscal year calls for revenue of $46.29 billion, down 22%, and EPS of $34.39, down about 42.2%.
The stock trades at 8.4 times expected 2022 EPS, 7.7 times estimated 2023 earnings of $37.68 and 7.0 times estimated 2024 earnings of $41.16. The stock’s 52-week range is $278.15 to $426.16. Goldman Sachs pays an annual dividend of $8.00 (yield of 2.76%). Total shareholder return for the past 12 months was negative 21.1%.
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