The Goldman Sachs Group (NYSE:GS) Stock Rating Lowered by Wall Street Zen

The Goldman Sachs Group (NYSE:GS) was downgraded by equities research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a report released on Sunday, Wall Street Zen reports.

Other research analysts also recently issued reports about the company. Rothschild & Co Redburn lifted their price objective on The Goldman Sachs Group from $870.00 to $920.00 and gave the stock a “neutral” rating in a research report on Thursday, June 25th. HSBC upgraded The Goldman Sachs Group from a “hold” rating to a “strong-buy” rating in a report on Wednesday, August 5th. JPMorgan Chase & Co. raised their price target on The Goldman Sachs Group from $900.00 to $955.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 15th. Keefe, Bruyette & Woods upped their price objective on The Goldman Sachs Group from $1,050.00 to $1,130.00 and gave the company a “market perform” rating in a research report on Wednesday, July 15th. Finally, CICC Research increased their price objective on The Goldman Sachs Group from $825.00 to $980.00 and gave the company an “outperform” rating in a research note on Tuesday, May 19th. Two analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $1,062.86.

The Goldman Sachs Group Price Performance

Shares of NYSE GS opened at $987.90 on Friday. The stock has a market cap of $287.65 billion, a price-to-earnings ratio of 15.25, a PEG ratio of 1.04 and a beta of 1.29. The Goldman Sachs Group has a 52 week low of $740.01 and a 52 week high of $1,153.99. The company’s 50-day moving average price is $1,043.50 and its 200 day moving average price is $976.86. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 3.17.

The Goldman Sachs Group (NYSE:GS) last announced its earnings results on Tuesday, July 14th. The investment management company reported $20.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $14.47 by $6.51. The Goldman Sachs Group had a net margin of 15.53% and a return on equity of 19.16%. The company had revenue of $20.34 billion during the quarter, compared to analysts’ expectations of $16.22 billion. During the same quarter in the previous year, the business posted $10.91 earnings per share. The firm’s quarterly revenue was up 39.4% compared to the same quarter last year. As a group, research analysts forecast that The Goldman Sachs Group will post 68.89 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Sky Investment Group LLC raised its holdings in The Goldman Sachs Group by 0.9% during the second quarter. Sky Investment Group LLC now owns 1,168 shares of the investment management company’s stock worth $1,181,000 after purchasing an additional 10 shares in the last quarter. Warren Street Wealth Advisors LLC lifted its position in The Goldman Sachs Group by 3.9% in the second quarter. Warren Street Wealth Advisors LLC now owns 269 shares of the investment management company’s stock worth $272,000 after purchasing an additional 10 shares during the period. Welch & Forbes LLC boosted its stake in The Goldman Sachs Group by 0.8% during the 4th quarter. Welch & Forbes LLC now owns 1,430 shares of the investment management company’s stock valued at $1,257,000 after purchasing an additional 11 shares in the last quarter. First Financial Group Corp increased its position in shares of The Goldman Sachs Group by 4.7% during the 1st quarter. First Financial Group Corp now owns 246 shares of the investment management company’s stock valued at $208,000 after purchasing an additional 11 shares during the period. Finally, Meadow Creek Wealth Advisors LLC increased its position in shares of The Goldman Sachs Group by 1.7% during the 1st quarter. Meadow Creek Wealth Advisors LLC now owns 673 shares of the investment management company’s stock valued at $569,000 after purchasing an additional 11 shares during the period. 71.21% of the stock is currently owned by hedge funds and other institutional investors.

The Goldman Sachs Group News Summary

Here are the key news stories impacting The Goldman Sachs Group this week:

• Positive Sentiment: Goldman Sachs is advising The Elmet Group on a $450 million Pentagon investment to expand U.S. tungsten manufacturing. The mandate could generate advisory fees and highlights Goldman’s role in strategically important defense and industrial transactions. Pentagon Commits $450 Million Investment in Elmet Group
• Positive Sentiment: Goldman is reportedly running the sale process for Colgate-Palmolive brands including Softsoap, Irish Spring and Speed Stick, providing another potential investment-banking fee opportunity. Who Buys Colgate’s Cast-Off Brands?
• Neutral Sentiment: Goldman Sachs reversed its prior forecast and now expects the Federal Reserve to raise rates by 25 basis points at its September meeting, citing hotter inflation, higher oil prices and stronger producer-price data. Higher rates can support some lending revenue, but they may also weaken deal activity, trading conditions and asset valuations. Goldman Sachs, JPMorgan expect Fed rate hike this week
• Negative Sentiment: Investors reacted to warnings that holding rates steady could trigger a disorderly market selloff, while cautionary comments from Bank of America’s CEO added to concerns about financial-market conditions. Those risks are particularly relevant to Goldman because its results depend heavily on investment banking, trading and asset-management activity. Goldman Sachs Expects Fed Chair Kevin Warsh to Raise Rates This Week
• Negative Sentiment: A recent analyst action lowered Goldman Sachs to a Hold rating, adding to selling pressure despite the company’s prior earnings beat and strong year-over-year revenue growth. Wall Street Zen Downgrades The Goldman Sachs Group to Hold

About The Goldman Sachs Group

The Goldman Sachs Group, Inc (NYSE:GS) is a global financial services company that provides investment banking, securities, asset management and wealth management services to corporations, financial institutions, governments and individuals. The company is headquartered in New York City and serves clients across North America, Europe, Asia-Pacific and other international markets.

Through its Global Banking & Markets segment, Goldman Sachs advises clients on mergers and acquisitions, capital raising, restructuring and other strategic transactions.