Goldman Sachs and More Dow Earnings Kicking Off Tuesday

Investing

Published: October 16, 2017 11:30 am

Last Updated: January 12, 2020 7:09 am

When 2016 came to a close, analysts were predicting that the Dow Jones Industrial Average would end 2017 at 22,000. At least this is what the more bullish analysts were saying. But this target has been absolutely shattered and now it’s looking like the Dow could hit 23,000. Most of this rally has been supported by strong earnings and a rally in the tech sector.

Boeing has crushed 2017, up 67.5%, and as the largest component is a large part of the Dow’s new highs. Goldman Sachs is the second largest component and UnitedHealth is the fourth-largest. Both are reporting Tuesday.

Earnings season is just kicking off for the third quarter with markets pushing all-time highs. Seven Dow stocks are reporting this week and nearly half of them are reporting on Tuesday.

Goldman Sachs Group Inc. (NYSE: GS) reports its third-quarter results before the markets open on Tuesday. The consensus forecast from Thomson Reuters calls for $4.17 in earnings per share (EPS) and $7.54 billion in revenue. The same period of last year reportedly had EPS of $4.88 and $8.17 billion in revenue.

Shares of Goldman Sachs were last seen trading at $240.00, with a consensus analyst price target of $241.96 and a 52-week trading range of $168.45 to $255.15.

UnitedHealth Group Inc. (NYSE: UNH) is scheduled to release its most recent earnings report early on Tuesday. Consensus estimates are $2.56 in EPS and $50.35 billion in revenue. In the third-quarter of last year, it posted $2.17 in EPS and revenue of $46.29 billion.

UnitedHealth shares recently traded at $192.50. The stock has a 52-week range of $133.03 to $200.76 and a consensus price target of $211.78.

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Johnson & Johnson (NYSE: JNJ) is set to report its fiscal third-quarter financial results on Tuesday morning as well. The consensus estimates are $1.80 in EPS and revenue of $19.28 billion. The same period of last year had $1.68 in EPS and $17.82 billion in revenue.

Johnson & Johnson was trading at $136.35 a share, in a 52-week range of $109.32 to $137.52 and with a consensus price target of $138.65.

Keep an eye out for more Dow earnings coming later this week.

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