(GS) - Goldman Sachs Group, Inc - new consensus estimate is 83 cents above the forecast of a month ago and $1.35 above the forecast of two months ago

The Goldman Sachs Group, Inc. (GS) ended its fiscal year by delivering a very bullish earnings report. The investment banking firm recently announced profits of $6.59 per share, easily surpassing expectations of $5.81 per share. Full Analysis The Goldman Sachs Group, Inc. is a global investment banking and securities firm, providing a full range of investing, advisory and financing services worldwide. The company serves a substantial and diversified client base that includes institutions as well as high net worth and retail investors. GS was last highlighted as a Growth & Income pick on June 13. Since that time, GS has easily topped analysts’ forecasts twice and by wide margins. More impressively, positive surprises came after analysts raised their forecasts. Most recently, Goldman Sachs reported fiscal fourth-quarter profits of $6.59 per share, versus projections for $5.81 per share. Net revenues reached $9.41 billion. The company benefited from improvements in its investment banking, trading and asset management business units. Fixed income and commodities were a notable area of strength, though investment banking revenues were up 42% from a year ago. Following the release of the fiscal fourth-quarter report, nine brokerage analysts revised their forecasts for fiscal 2007. The new consensus estimate of $18.49 is 83 cents above the forecast of a month ago and $1.35 above the forecast of two months ago. Despite the impressive business momentum, GS continues to trade at a very reasonable P/E of just 12.3. The stock also yields a dividend of 0.7%. Content Courtesy: Zacks Investment Research #1 Ranked Stocks Highlight Archive To truly take advantage of the Zacks Rank, you need to first understand how it works. That is why we created the free special report: Zacks Rank Guide: Harnessing the Power of Earnings Estimate Revisions. | Blog Home| VitalStocks Home