Company Update: The Goldman Sachs Group Inc (NYSE:GS) – Goldman Sachs cut staff in Russia in past few months, more cuts expected – sources

[Reuters] – U.S. bank Goldman Sachs has cut staff in Russia in the past few months and more cuts are expected by the end of the summer, sources familiar with the layoffs told Reuters. One source said Goldman had sacked traders, back office staff and investment bankers in the past few months. One Goldman stock trader was fired in May, a second source said. Read more on this. The Goldman Sachs Group, Inc. (GS) , with a current market cap of $67.32B, started the session at $155.20. Today, shares have traded between $153.91 and $156.58 per share with the price of the stock fluctuating between $139.05 to $218.77 over the last 52 weeks. Priced at 11.18x this year’s forecasted earnings, GS shares are relatively expensive compared to the industry’s -63.02x forward p/e ratio. And for passive income investors, the company pays shareholders $2.60 per share annually in dividends, yielding 1.66%. In a review of the consensus earnings estimate this quarter, 21 sell-side analysts are looking at $3.20 per share, which would be $1.22 better than the year-ago quarter and a $0.51 sequential decrease. Furthermore, our analysis shows the full-year EPS estimate to be $14.27, which would be a $2.13 better when compared to the last year’s annual results. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $7.73 Billion. If realized, that would be a 14.77% decrease over the year-ago quarter. In terms of ratings, JP Morgan upgraded GS from Underweight to Overweight (Feb 16, 2016). Previously, Nomura upgraded GS from Neutral to Buy. The average price target for GS shares by the analysts covering it is $188.08, which is 21.19% above where the stock opened. See more in (NYSE:GS) Similar Articles: Company Update: The Goldman Sachs Group Inc (NYSE:GS) – Goldman Sachs cuts forecasts for European, UK equity indices Market Update: The Goldman Sachs Group Inc (NYSE:GS) – Goldman Sachs cutting up to 10 pct of fixed income trading staff – source Company Update: The Goldman Sachs Group Inc (NYSE:GS) – Goldman Sachs to pay $15 million to settle SEC stock lending case