Company Update: The Goldman Sachs Group Inc (NYSE:GS) – Pound tumbles to the centre of Britain’s EU battle

[Reuters – UK Focus] – For campaigners battling over Britain’s European Union membership, the pound’s sharpest fall since the depths of the 2008 financial crisis creates political gold dust. Cameron says dropping out would be a leap in the dark, while Goldman Sachs (NYSE: GS – news ) and HSBC – which have both backed EU membership – cautioned that the world ’s fourth-most traded currency could lose as much as a fifth of its value if Britain left the club. Opponents said voters would be unimpressed by scaremongering from elitist banks which in the 1990s warned of dire consequences if Britain opted out of the euro. Read more on this. The Goldman Sachs Group, Inc. (GS) , currently valued at $65.37B, started trading this morning at $146.00. During today’s session, GS traded between $145.23 to $148.20 with its 52-week range being $139.05 to $218.77. Goldman Sachs (GS) shares are currently priced at 8.37x this year’s forecasted earnings, which makes them relatively inexpensive compared to the industry ’s 13.18x earnings multiple for the same period. The company pays shareholders $2.60 per share in dividend income per year, for a current yield of 1.77%. In a review of the consensus earnings estimate this quarter, 21 sell-side analysts are looking at $4.35 per share, which would be $1.59 worse than the year-ago quarter and a $0.69 sequential decrease. What we find to be interesting is that the full-year EPS estimate of $17.39 is a $5.25 improvement when compared to the previous year’s annual results. The quarterly earnings estimate is predicated on a consensus revenue forecast of $9.00 Billion. If reported, that would be a 15.25% decrease over the year-ago quarter. Recently, JP Morgan upgraded GS from Underweight to Overweight (Feb 16, 2016). Previously, Nomura upgraded GS from Neutral to Buy. With the above information in mind, readers should note that the average price target is $194.13, which is 32.97% above where the stock opened this morning. See more in (NYSE:GS) Similar Articles: Company Update: The Goldman Sachs Group Inc (NYSE:GS) – Goldman Sachs to pay $15 million to settle SEC stock lending case Market Update: The Goldman Sachs Group Inc (NYSE:GS) – Goldman Sachs Asset Management Announces Additional Updates to Money Market Fund Product Line in Anticipation of New Regulatory Requirements 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