Market Update: The Goldman Sachs Group Inc (NYSE:GS) – HazelTree and Goldman Sachs Asset Management Announce Strategic Partnership to Help Investment Managers Manage Cash Holdings

[Business Wire] – HazelTree and Goldman Sachs Asset Management announced today a strategic partnership to assist hedge funds, fund administrators, managed account providers and family offices in improving their cash management. Read more on this. The Goldman Sachs Group, Inc. (GS) , with a current value of $82.39B, started trading this morning at $184.01. Looking at the stock, its one day range is $181.68 to $185.49 and has traded between $167.49 and $218.77 over the past year. Priced at 11.77x this year’s forecasted earnings, GS shares are relatively inexpensive compared to the industry’s 13.50x forward p/e ratio. The company pays shareholders $2.60 per share annually in dividends, yielding 1.47%. In a review of the consensus earnings estimate this quarter, 21 sell-side analysts are looking at $4.69 per share, which would be $0.31 better than the year-ago quarter and a $0.68 sequential decrease. The full-year EPS estimate is $15.47 which would be a $1.60 setback than last year’s full-year earnings. The quarterly earnings estimate is predicated on a consensus revenue forecast of $7.82 Billion. If reported, that would be a 1.69% increase over the year-ago quarter. Recently, Deutsche Bank downgraded GS from Buy to Hold (Jun 24, 2015). Previously, Atlantic Equities Initiated GS at to Overweight. Investors should keep in mind is that the average price target is $208.92, which is 13.54% above where the stock opened this morning. See more in (NYSE:GS) Similar Articles: Market Update (NYSE:GS): Goldman Sachs Asset Management Launches ActiveBeta® International Equity Exchange-Traded Fund Company Update (NYSE:GS): Goldman Sachs Asset Management Launches GS Absolute Return Multi-Asset Fund Market Update (NYSE:GS): Goldman Sachs Asset Management Closed-End Funds Appoint Lawrence W. Stranghoener and Michael Latham to the Board of Trustees