Goldman Sachs Group Inc. will likely record a loss in the third quarter, only the second quarterly loss in the Wall Street titan's history, hurt by weakness across trading and investment banking, equity market declines and wider credit spreads during the period, Citigroup said.

Citigroup analysts Keith Horowitz and Craig Singer, in a note titled Taking One Last Whack to 3Q Ests, said they now expect Goldman to post a loss of 65 cents a share, compared with their prior estimates of a profit of 10 cents per share.

The latest cut to Goldman's outlook by Citigroup analyst Horowitz -- a five-star rated analyst according to StarMine for the accuracy of his earnings estimates on Goldman -- adds to the already grim outlook that Wall Street analysts have for U.S. banks' third-quarter results.

Analysts are estimating that financial companies in the Standard & Poor's 500 index will report earnings only 3.9 percent higher than a year earlier, instead of the 14.6 percent increase they forecast on Aug. 1, according to Thomson Reuters Proprietary Research.

The first big bank to post results will be JPMorgan Chase & Co. on Oct. 13. Goldman will report its third-quarter results on Oct. 18.

(Reporting by Tenzin Pema in Bangalore; Editing by Roshni Menon)

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