Research Desk Line-up: Charles Schwab Post Earnings Coverage

LONDON, UK / ACCESSWIRE / October 19, 2017 / Pro-Trader Daily has just published a free post-earnings coverage on The Goldman Sachs Group, Inc. (NYSE: GS), which can be viewed by registering at http://protraderdaily.com/optin/?symbol=GS, following the Company's posting of its financial results for the third quarter fiscal 2017 (Q3 FY17) on October 17, 2017. The New York-based investment bank's quarterly diluted EPS grew 3% y-o-y, topping analysts' consensus estimates. Our daily stock reports are accessible for free, and with those to look forward today you also will be signing up for a complimentary member's account at:

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Get more of our free earnings reports coverage from other constituents of the Investment Brokerage - National industry. Pro-TD has currently selected The Charles Schwab Corporation (NYSE: SCHW) for due-diligence and potential coverage as the Company announced on October 16, 2017, its financial results for Q3 2017. Register for a free membership today, and be among the early birds that get access to our report on Charles Schwab when we publish it.

At Pro-TD, we make it our mission to bring you news that matter about the stock you follow. Today, our research desk covers a blog story on GS; also brushing on SCHW. With the links below you can directly download the report of your stock of interest free of charge at:

http://protraderdaily.com/optin/?symbol=GS

http://protraderdaily.com/optin/?symbol=SCHW

Earnings Reviewed

In Q3 FY17, Goldman Sachs's total net revenues rose to $8.33 billion from $8.17 billion in the prior year's comparable quarter. Total net revenues outperformed Wall Street's consensus of $7.6 billion. In the reported quarter, the Company's net interest income increased 19% to $730 million from $614 million in Q3 FY16. Meanwhile, net non-interest income grew 1% to $7.60 billion y-o-y during Q3 FY17.

For Q3 FY17, the global investment bank's operating expenses came in at $5.35 billion, which came in 1% higher than the $5.30 billion reported in Q3 FY16. The Company reported net earnings of $2.13 billion, or $5.02 per diluted share, in Q3 FY17 compared to $2.09 billion, or $4.88 per diluted share, in Q3 FY16. Wall Street had expected the Company to report net earnings of $4.31 per diluted share in Q3 FY17.

Performance Metrics

For the reported period, Goldman Sachs' assets under supervision came in at $1.46 trillion compared to $1.35 trillion in the prior year's comparable quarter. Furthermore, the Company provided 10.9% of return on average common shareholders' equity in the reported period.

The bank's standardized Common Equity Tier (CET) 1 ratio stood at 13.3% as on September 30, 2017, compared to 13.9% as of June 30, 2017. Furthermore, Basel III Advanced CET 1 ratio was 12.0% as on September 30, 2017, compared to 12.5% as of June 30, 2017. The Company's supplementary leverage ratio was 6.1% as on September 30, 2017, versus 6.3% at the end of the last quarter. As of September 30, 2017, book value per common share and tangible book value per common were $190.73 and $180.42, respectively.

Goldman Sachs' Segment Performance

During the quarter ended on September 30, 2017, Investment Banking division's revenues came in at $1.80 billion, which was 17% above the $1.54 billion reported in the year-ago same quarter. During the reported quarter, the Financial Advisory and Debt underwriting revenues rose 38% and 3% y-o-y, respectively, while, revenues from Equity underwriting fell 7% y-o-y during Q3 FY17.

In Q3 FY17, the Institutional Client Services' revenues declined 17% to $3.12 billion from $3.75 billion in Q3 FY16. The fall in quarterly division's revenue was due a 26% decline in revenues from Fixed Income, Currency, and Commodities Client Execution. Moreover, in Q3 FY17, there was an 14% and 5% y-o-y fall in revenues from Equities client execution and Commissions and fees, respectively. Meanwhile, revenue contribution from Securities services grew 4% y-o-y during Q3 FY17.

The Investing & Lending division's revenue came in at $1.88 billion for Q3 FY17, which was 35% above the $1.40 billion reported in the year-ago same quarter. In the reported period, Equity securities' revenues surged 51% y-o-y, while Debt securities and loans revenues were up by 3% y-o-y.

Additionally, Investment Management division's revenue grew 3% y-o-y to $1.53 billion in Q3 FY17 from $1.49 billion in Q3 FY16. In this division, Management and other fees and Transaction revenues rose 4% and 15%, respectively, on a y-o-y basis for Q3 FY17, while Incentive fees declined 25% y-o-y.

Dividend and Buyback

On October 16, 2017, Goldman Sachs' Board of Directors declared a dividend of $0.75 per common share to be paid on December 28, 2017, to common shareholders of record on November 30, 2017.

The Company informed the Wall Street that it had repurchased 9.6 million shares of its common stock worth $2.17 billion at an average cost per share of $225.12. Furthermore, the Company had 54.2 million shares remaining under its current existing repurchase program as of September 30, 2017.

Stock Performance

On Wednesday, October 18, 2017, the stock closed the trading session at $242.03, advancing 2.52% from its previous closing price of $236.09. A total volume of 4.23 million shares have exchanged hands, which was higher than the 3-month average volume of 2.84 million shares. Goldman Sachs' stock price soared 5.73% in the last one month, 8.88% in the past three months, and 40.20% in the previous twelve months. Moreover, the stock gained 1.08% since the start of the year. The stock is trading at a PE ratio of 12.66 and has a dividend yield of 1.24%. The stock currently has a market cap of $94.14 billion.

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SOURCE: Pro-Trader Daily