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Dow Earnings: Analysts Expect Goldman Sachs Revenue Decline

Dow Earnings: Analysts Expect Goldman Sachs Revenue Decline
  • Four Dow Jones Industrial Average components post their latest quarterly results this week.
  • One them is among the most heavily weighted Dow stocks.
  • The new earnings season begins to ramp up this week. Among the companies expected to share their most recent results are four Dow Jones Industrial Average components.

For the period when Goldman Sachs Group Inc (NYSE: GS) was rumored to be considering trading in bitcoin and some analysts were making calls for new management, the consensus forecast calls for both the top and bottom lines to have slipped in the three months that ended in December.

Goldman Sachs

When this New York–based financial giant shares its third-quarter results before the opening bell Wednesday, analysts on average predict that it will post earnings per share of $4.92. That compares to the $5.08 a share Goldman reported a year ago. And the $7.63 billion in expected revenue would be the lowest figure seen in the past five quarters. It also would represent a decline of more than 6 percent year-over-year. 

The forecast from 74 Estimize respondents is more hopeful. They project Goldman's EPS at $5.16, and the platform's consensus revenue estimate for the most recent period is pegged at $7.83 billion. Like the Wall Street analysts, Estimize underestimated both top- and bottom-line results in the previous two quarters.

See also: A Strategy That Beat The S&P 500: Here Are Your 2018 'Dogs Of The Dow'

And Others

Other Dow companies on deck this coming week are American Express Company (NYSE: AXP) and IBM Common Stock (NYSE: IBM). Wall Street analysts are looking for solid to strong year-over-year earnings growth from both, but the revenue IBM offers up is expected to be only minimally higher.

In addition, companies that are predicted to show at least some year-over-year earnings growth when they reveal their results this week include Alcoa Corporation (NYSE: AA), Bank of America Corporation (NYSE: BAC), The Bank of New York Mellon Corporation (NYSE: BK), Charles Schwab Corporation (NYSE: SCHW), Citigroup Inc (NYSE: C), CSX Corporation (NASDAQ: CSXFastenal Company (NASDAQ: FAST), Kansas City Southern (NYSE: KSU), KeyCorp (NYSE: KEY), Schlumberger Limited (NYSE: SLB) SunTrust Banks, Inc. (NYSE: STI), Taiwan Semiconductor Mfg. Co. Ltd. (ADR) (NYSE: TSM) and U.S. Bancorp (NYSE: USB). 

Consensus forecasts call for shrinking profits from ASML Holding NV (ADR) (NASDAQ: ASML), Morgan Stanley (NYSE: MS) and Synchrony Financial (NYSE: SYF). The per-share earnings at PPG Industries, Inc. (NYSE: PPG) and Wipro Limited (ADR) (NYSE: WIT) will be the same as a year ago if analysts are correct.

After that, keep an eye out for upcoming quarterly reports from Dow components Caterpillar Inc. (NYSE: CAT), General Electric (NYSE: GE), Intel Corporation (NASDAQ: INTC), Johnson & Johnson (NYSE: JNJ), Procter & Gamble Co. (NYSE: PG), 3M Co (NYSE: MMM), Travelers Companies Inc (NYSE: TRV) and Verizon Communications Inc. (NYSE: VZ). 

At the time of this writing, the author had no position in the mentioned equities.

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Latest Ratings for GS

Apr 2021BMO CapitalMaintainsOutperform
Apr 2021DA DavidsonMaintainsNeutral
Apr 2021BarclaysMaintainsOverweight

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