The Goldman Sachs Group (NYSE:GS) Releases Quarterly Earnings Results, Beats Expectations By $3.74 EPS

The Goldman Sachs Group (NYSE:GS) announced its quarterly earnings results on Wednesday. The investment management company reported $11.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $8.21 by $3.74, Briefing.com reports. The Goldman Sachs Group had a return on equity of 11.39% and a net margin of 9.89%. The firm had revenue of $13.87 billion during the quarter, compared to analyst estimates of $12.36 billion. During the same quarter in the previous year, the business earned $5.48 earnings per share. The Goldman Sachs Group’s quarterly revenue was up 22.5% on a year-over-year basis.

The Goldman Sachs Group Trading Up 1.5 %

Shares of NYSE:GS opened at $571.46 on Wednesday. The business’s 50-day moving average is $585.67 and its 200 day moving average is $527.58. The company has a debt-to-equity ratio of 2.32, a current ratio of 0.67 and a quick ratio of 0.67. The Goldman Sachs Group has a 1 year low of $372.07 and a 1 year high of $612.73. The firm has a market capitalization of $179.39 billion, a P/E ratio of 16.77, a P/E/G ratio of 0.85 and a beta of 1.38.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Barclays lifted their target price on The Goldman Sachs Group from $588.00 to $713.00 and gave the company an “overweight” rating in a research report on Monday, January 6th. Wells Fargo & Company lifted their price objective on The Goldman Sachs Group from $600.00 to $680.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Bank of America increased their target price on shares of The Goldman Sachs Group from $563.00 to $575.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Evercore ISI boosted their price target on shares of The Goldman Sachs Group from $520.00 to $575.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Finally, Morgan Stanley upped their price target on shares of The Goldman Sachs Group from $560.00 to $570.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. Eight equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, The Goldman Sachs Group has an average rating of “Moderate Buy” and a consensus target price of $569.31.

Insiders Place Their Bets

In other news, insider Brian J. Lee sold 2,000 shares of The Goldman Sachs Group stock in a transaction on Thursday, October 17th. The shares were sold at an average price of $530.90, for a total transaction of $1,061,800.00. Following the completion of the sale, the insider now directly owns 10,095 shares in the company, valued at approximately $5,359,435.50. The trade was a 16.54 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Sheara J. Fredman sold 2,974 shares of the business’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $594.51, for a total transaction of $1,768,072.74. Following the sale, the chief accounting officer now directly owns 8,489 shares in the company, valued at $5,046,795.39. This trade represents a 25.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 22,940 shares of company stock valued at $13,717,979. 0.54% of the stock is currently owned by corporate insiders.

The Goldman Sachs Group Company Profile

The Goldman Sachs Group, Inc, a financial institution, provides a range of financial services for corporations, financial institutions, governments, and individuals worldwide. It operates through Global Banking & Markets, Asset & Wealth Management, and Platform Solutions segments. The Global Banking & Markets segment provides financial advisory services, including strategic advisory assignments related to mergers and acquisitions, divestitures, corporate defense activities, restructurings, and spin-offs; and relationship lending, and acquisition financing, as well as secured lending, through structured credit and asset-backed lending and involved in financing under securities to resale agreements.