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Goldman Sachs Group (GS) - Increased Profit Estimates

May 20 2009

Goldman Sachs Group (GS) - Increased Profit Estimates

Goldman Sachs is one of the few companies with increased profit estimates in the marketplace today. Over the past 90 days their current quarter profit estimates have increased from $1.92 a share to $2.44 a share, a 27% increase. Likewise the next quarter estimates and the year profit estimates have also moved higher with the analysts that cover the stock.

Revenue and Earnings

Sales remain flat until next year when the company is projected to see an increase of 9% and earnings are still quite a bit lower this quarter compared to a year ago. But next quarter's earnings are now projected to be 19% higher than the previous year's same quarter. The forward price/earnings ratio is 11.44 for the stock which leaves room for appreciation in the price of the stock when earnings to materialize.

Stock Action

The company remains one of the strongest financials in an industry that has seen two of the major four Investment Banks be acquired for nothing (MER) or go bankrupt (LEH) over the past year. The stock has moved the past 2 1/2 months from a low of $73.95 to a high of $143.15 a share just this past Monday. The Monday high represented a new break-out from a prior range which happened days before the market itself looks to make a similar break-out.

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