Zacks Investment Research upgraded shares of Goldman Sachs Group, Inc. (The) (NYSE:GS) from a hold rating to a buy rating in a research report released on Tuesday, November 7th. They currently have $273.00 price objective on the investment management company’s stock.
According to Zacks, “Shares of Goldman underperformed the industry over the past six months. Yet, the company boasts an impressive earnings surprise history. It has surpassed the Zacks Consensus Estimate for earnings in three of the trailing four quarters. Goldman’s third-quarter 2017 results surpassed the Zacks Consensus Estimate. Results reflected higher revenues on continued momentum in investment banking business, partially offset by lower fixed-income trading activities and elevated expenses. Though several issues, including sluggish global economic growth and lower client activity levels, remain near-to-medium-term headwinds, we believe the company’s well-diversified business and its focus to capitalize on growth opportunities through strategic moves should continue to bolster the overall business.”
GS has been the subject of a number of other research reports. Buckingham Research reaffirmed a neutral rating and issued a $243.00 target price (up previously from $235.00) on shares of Goldman Sachs Group, Inc. (The) in a report on Monday, July 10th. Capital One Financial Corporation reissued a buy rating on shares of Goldman Sachs Group, Inc. (The) in a report on Tuesday, July 11th. Keefe, Bruyette & Woods downgraded shares of Goldman Sachs Group, Inc. (The) from an outperform rating to a market perform rating and dropped their price objective for the company from $260.00 to $240.00 in a report on Wednesday, July 19th. Oppenheimer Holdings, Inc. increased their price objective on shares of Goldman Sachs Group, Inc. (The) from $251.00 to $256.00 and gave the company an outperform rating in a report on Wednesday, July 19th. Finally, Berenberg Bank reissued a sell rating and set a $190.00 price objective on shares of Goldman Sachs Group, Inc. (The) in a report on Friday, July 21st. Three research analysts have rated the stock with a sell rating, seventeen have given a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. Goldman Sachs Group, Inc. (The) has an average rating of Hold and an average target price of $245.06.
Shares of Goldman Sachs Group, Inc. (NYSE GS) traded down $1.35 during midday trading on Tuesday, reaching $238.02. 2,826,300 shares of the company were exchanged, compared to its average volume of 3,299,301. Goldman Sachs Group, Inc. has a 52 week low of $209.18 and a 52 week high of $255.15. The stock has a market cap of $89,710.00, a price-to-earnings ratio of 12.40, a P/E/G ratio of 1.21 and a beta of 1.48. The company has a debt-to-equity ratio of 2.82, a quick ratio of 0.90 and a current ratio of 0.90.
Goldman Sachs Group, Inc. (The) (NYSE:GS) last announced its quarterly earnings data on Tuesday, October 17th. The investment management company reported $5.02 earnings per share for the quarter, topping analysts’ consensus estimates of $4.17 by $0.85. The company had revenue of $8.33 billion during the quarter, compared to analyst estimates of $7.59 billion. Goldman Sachs Group, Inc. (The) had a net margin of 26.42% and a return on equity of 11.34%. The firm’s revenue for the quarter was up 2.0% on a year-over-year basis. During the same period in the previous year, the business earned $4.88 EPS. equities research analysts predict that Goldman Sachs Group, Inc. will post 19.03 earnings per share for the current year.
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The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 28th. Investors of record on Thursday, November 30th will be given a dividend of $0.75 per share. The ex-dividend date is Wednesday, November 29th. This represents a $3.00 dividend on an annualized basis and a yield of 1.26%. Goldman Sachs Group, Inc. (The)’s payout ratio is presently 15.58%.
In other Goldman Sachs Group, Inc. (The) news, Vice Chairman Richard J. Gnodde sold 4,951 shares of the business’s stock in a transaction dated Wednesday, October 18th. The shares were sold at an average price of $239.95, for a total value of $1,187,992.45. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider David M. Solomon sold 2,400 shares of the business’s stock in a transaction dated Monday, November 13th. The shares were sold at an average price of $238.49, for a total transaction of $572,376.00. The disclosure for this sale can be found here. Insiders have sold 39,744 shares of company stock worth $9,697,984 over the last 90 days. 2.57% of the stock is currently owned by company insiders.
Institutional investors have recently added to or reduced their stakes in the company. Quantbot Technologies LP raised its stake in shares of Goldman Sachs Group, Inc. (The) by 223.8% in the 2nd quarter. Quantbot Technologies LP now owns 39,237 shares of the investment management company’s stock valued at $8,706,000 after acquiring an additional 27,121 shares during the period. Tudor Investment Corp ET AL raised its stake in shares of Goldman Sachs Group, Inc. (The) by 29.9% in the 2nd quarter. Tudor Investment Corp ET AL now owns 20,480 shares of the investment management company’s stock valued at $4,545,000 after acquiring an additional 4,714 shares during the period. YorkBridge Wealth Partners LLC raised its stake in shares of Goldman Sachs Group, Inc. (The) by 23.8% in the 2nd quarter. YorkBridge Wealth Partners LLC now owns 792 shares of the investment management company’s stock valued at $180,000 after acquiring an additional 152 shares during the period. Bank of Montreal Can raised its stake in shares of Goldman Sachs Group, Inc. (The) by 33.1% in the 2nd quarter. Bank of Montreal Can now owns 392,464 shares of the investment management company’s stock valued at $87,090,000 after acquiring an additional 97,532 shares during the period. Finally, Cornerstone Investment Partners LLC purchased a new stake in shares of Goldman Sachs Group, Inc. (The) in the 2nd quarter valued at approximately $42,536,000. 74.01% of the stock is currently owned by institutional investors and hedge funds.
About Goldman Sachs Group, Inc. (The)
The Goldman Sachs Group, Inc is an investment banking, securities and investment management company that provides a range of financial services to corporations, financial institutions, governments and individuals. The Company operates in four business segments: Investment Banking, Institutional Client Services, Investing & Lending, and Investment Management.
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