Goldman Sachs Group, Inc. (The) (GS) Rating Increased to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of Goldman Sachs Group, Inc. (The) (NYSE:GS) from a hold rating to a buy rating in a report published on Tuesday. The brokerage currently has $273.00 price target 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.”

Several other equities research analysts also recently weighed in on the stock. Vertical Group downgraded shares of Goldman Sachs Group, Inc. (The) from a hold rating to a sell rating in a research note on Monday, November 6th. Societe Generale set a $198.00 target price on shares of Goldman Sachs Group, Inc. (The) and gave the company a sell rating in a research note on Thursday, October 19th. Keefe, Bruyette & Woods reissued a hold rating and issued a $240.00 target price on shares of Goldman Sachs Group, Inc. (The) in a research note on Thursday, October 19th. Buckingham Research reissued a neutral rating and issued a $250.00 target price (up previously from $243.00) on shares of Goldman Sachs Group, Inc. (The) in a research note on Wednesday, October 18th. Finally, Morgan Stanley increased their target price on shares of Goldman Sachs Group, Inc. (The) from $265.00 to $287.00 and gave the company an overweight rating in a research note on Wednesday, October 18th. 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 given a strong buy rating to the company’s stock. The company presently has a consensus rating of Hold and a consensus target price of $245.06.

Goldman Sachs Group, Inc. (NYSE GS) traded down $0.64 during trading on Tuesday, reaching $240.15. 1,845,600 shares of the company were exchanged, compared to its average volume of 3,316,952. The stock has a market capitalization of $90,826.35, a P/E ratio of 12.54, a price-to-earnings-growth ratio of 1.22 and a beta of 1.48. The company has a current ratio of 0.90, a quick ratio of 0.89 and a debt-to-equity ratio of 2.82. Goldman Sachs Group, Inc. has a 52 week low of $198.25 and a 52 week high of $255.15.

Goldman Sachs Group, Inc. (The) (NYSE:GS) last announced its earnings results on Tuesday, October 17th. The investment management company reported $5.02 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $4.17 by $0.85. Goldman Sachs Group, Inc. (The) had a net margin of 26.42% and a return on equity of 11.34%. The business had revenue of $8.33 billion for the quarter, compared to the consensus estimate of $7.59 billion. During the same quarter in the prior year, the firm posted $4.88 earnings per share. The business’s revenue for the quarter was up 2.0% on a year-over-year basis. sell-side analysts anticipate that Goldman Sachs Group, Inc. will post 19.03 EPS for the current year.

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The company also recently declared a quarterly dividend, which will be paid on Thursday, December 28th. Shareholders of record on Thursday, November 30th will be given a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 1.25%. The ex-dividend date is Wednesday, November 29th. Goldman Sachs Group, Inc. (The)’s payout ratio is 15.63%.

In other Goldman Sachs Group, Inc. (The) news, Vice Chairman Richard J. Gnodde sold 4,951 shares of the stock in a transaction dated Wednesday, October 18th. The shares were sold at an average price of $239.95, for a total transaction of $1,187,992.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Harvey M. Schwartz sold 25,000 shares of the stock in a transaction dated Friday, October 20th. The shares were sold at an average price of $245.00, for a total transaction of $6,125,000.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 37,344 shares of company stock valued at $9,125,608. Insiders own 2.57% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in GS. Northwest Quadrant Wealth Management LLC purchased a new position in shares of Goldman Sachs Group, Inc. (The) in the 2nd quarter valued at approximately $407,000. Sumitomo Mitsui Financial Group Inc. purchased a new position in shares of Goldman Sachs Group, Inc. (The) in the 2nd quarter valued at approximately $101,000. WealthTrust Arizona LLC raised its position in shares of Goldman Sachs Group, Inc. (The) by 97.1% in the 2nd quarter. WealthTrust Arizona LLC now owns 469 shares of the investment management company’s stock valued at $104,000 after purchasing an additional 231 shares during the last quarter. Sterling Investment Advisors Ltd. raised its position in shares of Goldman Sachs Group, Inc. (The) by 35.7% in the 2nd quarter. Sterling Investment Advisors Ltd. now owns 475 shares of the investment management company’s stock valued at $105,000 after purchasing an additional 125 shares during the last quarter. Finally, Shine Investment Advisory Services Inc. purchased a new position in shares of Goldman Sachs Group, Inc. (The) in the 2nd quarter valued at approximately $111,000. 73.14% of the stock is 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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