Credit Suisse Bank Analyst Says Bail on Goldman Sachs
Credit Suisse (NYSE:CS) banking analyst Howard Chen is forecasting that Goldman Sachs (NYSE:GS) will lose 70 cents per share in Q3. Predictably, the shares are trading down as a result. He previously reported a 95 cent profit, as Business Insider reports. Meredith Whitney has also sharply reduced her earnings estimates. She now expects the bank to earn $0.31 per share. She had previously expected the bank to earn $3.39 against a consensus estimate of $1.13.
Following is the share price performance of Goldman Sachs and some of its competitors:
- Goldman Sachs (NYSE:GS): The shares recently traded at $91.90, down $2.65, or 2.8%, on the day. The shares have traded in a 52-week range of $91.40 to $175.34 and its market capitalization is $46..48 billion. About the company: The Goldman Sachs Group, Inc., a bank holding company, is a global investment banking and securities firm specializing in investment banking, trading and principal investments, asset management and securities services. The Company provides services to corporations, financial institutions, governments, and high-net worth individuals.
- Morgan Stanley (NYSE:MS): The shares recently traded at $12.61, down $0.90, or 6.66%, on the day. The shares have traded in a 52-week range of $12.49 to $31.04 and its market capitalization is $24.35 billion. About the company: Morgan Stanley, a bank holding company, provides diversified financial services on a worldwide basis. The Company operates a global securities business which serves individual and institutional investors and investment banking clients. Morgan Stanley also operates a global asset management business.
- Citigroup (NYSE:C): The shares recently traded at $24.02, down $1.59, or 6.23%, on the day. The shares have traded in a 52-week range of $23.19 to $51.50 and its market capitalization is $70.09 billion. About the company: Citigroup Inc. is a diversified financial services holding company that provides a broad range of financial services to consumer and corporate customers around the world. The Company’s services include investment banking, retail brokerage, corporate banking, and cash management products and services.
(Note: Selected financial data are sourced from Google Finance. All data are assumed to be accurate.)
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