Goldman Sachs Group Inc (GS)

GS (NYSE:Financial Services) EQUITY
pos +0.71
Today's Range: 173.93 - 176.75 | GS Avg Daily Volume: 2,547,600
Last Update: 10/26/16 - 1:20 PM EDT
Volume: 954,584
YTD Performance: -2.60%
Open: $174.79
Previous Close: $175.55
52 Week Range: $138.20 - $199.90
Oustanding Shares: 405,461,645
Market Cap: 71,004,443,272
6-Month Chart
TheStreet Ratings Grade for GS
Buy Hold Sell
A+ A A- B+ B B- C+ C C- D+ D D- E+ E E- F
TheStreet Ratings is the source for accurate ratings that you can rely upon to make sound, informed financial decisions. Click here to find out about our methodology.
Analysts Ratings
Historical Rec Current 1 Mo. Ago 2 Mo. Ago 3 Mo. Ago
Strong Buy 5 5 5 6
Moderate Buy 1 1 1 1
Hold 8 7 7 7
Moderate Sell 0 0 0 0
Strong Sell 1 1 1 1
Mean Rec. 2.40 2.36 2.36 2.27
Latest Dividend: 0.65
Latest Dividend Yield: 1.48%
Dividend Ex-Date: 11/29/16
Price Earnings Ratio: 16.52
Price Earnings Comparisons:
GS Sector Avg. S&P 500
16.52 13.90 29.60
Price Performance History (%Change):
3 Mo 1 Yr 3 Y
9.37% -5.36% 8.30%
Revenue -2.20 -0.10 -0.02
Net Income -28.20 -0.20 -0.07
EPS -28.90 -0.20 -0.05
Earnings for GS:
Revenue 39.21B
Average Earnings Estimates
Qtr (12/16) Qtr (03/17) FY (12/16) FY (12/17)
Average Estimate $4.28 $4.49 $15.03 $17.82
Number of Analysts 8 3 6 7
High Estimate $5.37 $5.01 $15.86 $19.13
Low Estimate $3.57 $3.96 $13.67 $17.00
Prior Year $4.68 $2.68 $18.67 $15.03
Growth Rate (Year over Year) -8.65% 67.54% -19.51% 18.58%
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My Takeaways and Observations Real Money Pro($)

The U.S. dollar soared, something I highlighted very early in the morning as an important factor in my short-term negative view of the equity market. The price of crude oil fell by $0.56 to $50.79 after several days of strength. Gold was down $4.30 to $1,256 after a better start earlier in the day. I plan to add on weakness. I don't expect a December rate increase (see below) and more central bank lunacy and limited fiscal flexibility in a partisan Washington next year. Ag commodities: wheat up $0.03; corn up $0.02; soybeans down $0.01; and oats up 2 $0.02. Bonds rallied in yield but declined in price. The 10- and 30-year note and bond climbed by 3 basis points in yield. The 2s/10s spread (yield curve) rose to 90 basis points. Munis were sold and junk bonds weakened more considerably. Blackstone/GSO Strategic Credit Fund (BGB)  was down only $0.02. Banks held up fairly well under the circumstances as bond yields rose. I haven't pulled the trigger on short Financial Select Sector SPDR Fund (XLF) , but I am close as the yield curve remains flat. However insurance and brokerages got hit. Last week's short pickups in Metlife (MET) and Lincoln National (LNC) turned out well. Autos and energy lower. Retail was on sale. Warm weather hit the sector's earnings in the soon to be released quarter, but this is starting to be discounted as the turn in weather (colder) now could bode well for the important Christmas/holiday quarter. Biotech got schmeissed -- something I warned readers to expect (after Illumina (ILMN) issued lower guidance) in my "Takeaways" last night. Celgene (CELG) , Gilead Sciences (GILD) (everyone's very value biotech, I see it as a value trap; today it hit a year low) and Allergen (AGN) all much lower. Speculative biotech tanked. Trump's rogue actions today and Clinton's overwhelming strength in the polls may have also contributed to today's train wreck in biotech. Ag equipment stalled despite a Goldman Sachs (GS) upgrade. Old media lower, led by losses in IBM (IBM) and Intel (INTC) . Fertilizers not so crappy with gains in Monsanto (MON) and Potash Corporation of Saskatchewan (POT) . Media under assault again. All four components of (T)FANG were lower, but far less than the market' drop. Netflix (NFLX) , my only short, looks to be breaking down. In terms of individual stocks, Oaktree Financial (OAK) was a sap, but I added, as was JCP, which I also added to. In the latter retailer the colder weather is a plus but the third quarter will likely have been hit (along with other retailers) by the unseasonably warm weather. At $9 I expect the market might look through a disappointment. Unconfirmed rumors that Prince Alaweed might raise his position in Twitter buoyed the shares as did continued Salesforce (CRM) takeover chatter (albeit at a lower price). Here are some value-added contributions on our site. 1. Jim "El Capitan" Cramer clearly doesn't agree with my negativity in " Nowhere to Run, Nowhere to Hide." Jim sees the absence of new money as an integral factor today - while I have more fundamental issues that I raised in my opener, "The Market Outlook Worsen." 2
After destroying trust in the futures markets, Jon Corzine deserves more than a slap on the wrist.
After destroying trust in the futures markets, Corzine deserves more than a slap on the wrist.

My Takeaways and Observations Real Money Pro($)

 The U.S. dollar strengthened. The price of crude oil rose by $0.64 to $50.47. Gold stunk up the joint, closing down by $15 to $1,253. Market Vectors Gold Miners ETF (GDX) sliced through the 200-day moving average. As I have stated, large gap downs in gold have usually taken two to three days to stabilize and begin recovering. Tomorrow could be the third day. I am still small SPDR Gold Trust ETF (GLD) as a portfolio hedge against central bank lunacy. I want to be there but the only question is price and entry level. I suspect we are close after the two-day panic (and loss of $60/oz). Agricultural commodities: wheat down $0.09, corn down $0.07, soybeans up $0.03 and oats up $0.04. Lumber up $2.50. Bonds continued to roll over on lower prices, higher yields. The 10-year U.S. note yield rose by three basis points and closed at 1.744%. The long bond yield moved similarly. I remain large short in the iShares Barclays 20+ Yr Treas.Bond ETF (TLT) (which was down $0.75). It is now $7 lower than when I introduced it to my Best Ideas List (short) and wrote about A Generational Bottom in yields in July. The 2s/10s spread steepened 1.5 basis points to 89 basis points (well off of the recent 81 basis point low). Municipals and junk bonds exhibited little price change despite the decline in Treasuries. Blackstone/GSO Strategic Credit Fund (BGB)  down $0.06. I would avoid. Banks continued strong, extending recent gains. Insurance better (led by MET). I am now scaling into shorts after being quite small after covering most weeks/months ago. Good reduce yesterday in Hartford Financial Services (HIG) , this week's Trade of the Week after a 5% rise from Monday.
Bank and insurance company shares have had a spirited advance this week based on better-than-expected U.S. economic data and talk of th…
While I have made some timely short covers -- for example, Morgan Stanley (MS) , Goldman Sachs (GS) , ProShares UltraShort S&P 500 ETF (SDS) and SPDR S&P 500 ETF (SPY) -- over the last few days as I moved back to market neutral, I am not abandoning the short side.
Good covers on Goldman Sachs (GS) and Morgan Stanley (MS) yesterday, but I plan to revisit on further strength. 
The U.S. currency strengthened. The price of crude oil rose by $0.57. Gold fell by $3 to $1,314. In numerous "Takeaways" I have argued that $1,300 to $1,310 support could be penetrated to the downside. I suspect we might be close to it now. Agricultural commodities: wheat, down $0.06; corn, up $0.10; soybeans, up $0.19; and oats, up $0.05. (Watch these "fert" fans!) Lumber, down $2. Bonds weakened in price and rose in yield. The 10-year note rose by one basis point to 1.619%. The 2s/10s spread fell by one basis point to 82 basis points -- still near a multi-month low (more on this in my opener tomorrow). Municipals and junk bond prices got hit. However, Blackstone/GSO Strategic Credit Fund (BGB) was up a penny. Closed end muni bond funds suffered from profit taking. Banks were slightly lower as Wells Fargo (WFC) made another multi-week low. I would still avoid the financial sector, and especially Warren's bank. (More on this on Tuesday morning). Insurance stocks were mixed. I added to Hartford Financial (HIG) . Still short Metlife (MET) and Lincoln National (LNC) (but small). Autos were higher, led by General Motors (GM) even though there were negatives signs in the monthly sales data. More evidence of "peak autos." Old tech hit. IBM (IBM) led to the downside. Energy stocks uneven despite higher oil prices. Retail was a downside market feature as discussed in my JCPenney post. August retail sales were poor and the inclement (warm) weather hurts the group's top line. Biotech was down by 1%. Valeant Pharmaceuticals (VRX) rolling over (again). Staples hit on a stronger dollar. No Coke, Pepsi! New low for Coca-Cola (KO)

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