Goldman Sachs Group, Inc. (The) (NYSE:GS) Posts Quarterly Earnings Results, Beats Estimates By $0.85 EPS

Goldman Sachs Group, Inc. (The) (NYSE:GS) posted its quarterly earnings data on Tuesday, October 17th. The investment management company reported $5.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.17 by $0.85, MarketWatch Earnings reports. Goldman Sachs Group, Inc. (The) had a return on equity of 11.32% and a net margin of 26.42%. The company had revenue of $8.33 billion for the quarter, compared to the consensus estimate of $7.59 billion. During the same period in the previous year, the business earned $4.88 EPS. Goldman Sachs Group, Inc. (The)’s revenue for the quarter was up 2.0% compared to the same quarter last year.

Shares of Goldman Sachs Group, Inc. (NYSE GS) traded up 0.02% on Thursday, reaching $241.77. The company’s stock had a trading volume of 1,235,566 shares. The firm has a 50 day moving average of $234.68 and a 200 day moving average of $226.05. The company has a market cap of $93.86 billion, a PE ratio of 12.59 and a beta of 1.41. Goldman Sachs Group, Inc. has a 52-week low of $174.73 and a 52-week high of $255.15.

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 issued 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 1.24%. Goldman Sachs Group, Inc. (The)’s dividend payout ratio is 15.63%.

In other news, Director David A. Viniar sold 4,590 shares of the firm’s stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $227.79, for a total transaction of $1,045,556.10. Following the completion of the sale, the director now owns 854,925 shares in the company, valued at approximately $194,743,365.75. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Harvey M. Schwartz sold 25,000 shares of the firm’s stock in a transaction that occurred on Friday, October 20th. The stock was 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. In the last quarter, insiders sold 62,879 shares of company stock valued at $15,082,476. Company insiders own 2.57% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. YorkBridge Wealth Partners LLC boosted its holdings in Goldman Sachs Group, Inc. (The) by 0.3% in the 1st quarter. YorkBridge Wealth Partners LLC now owns 640 shares of the investment management company’s stock worth $144,000 after buying an additional 2 shares during the period. Chicago Partners Investment Group LLC boosted its holdings in Goldman Sachs Group, Inc. (The) by 0.3% in the 1st quarter. Chicago Partners Investment Group LLC now owns 1,052 shares of the investment management company’s stock worth $242,000 after buying an additional 3 shares during the period. MV Capital Management Inc. boosted its holdings in Goldman Sachs Group, Inc. (The) by 0.5% in the 2nd quarter. MV Capital Management Inc. now owns 618 shares of the investment management company’s stock worth $137,000 after buying an additional 3 shares during the period. Geller Family Office Services LLC boosted its holdings in Goldman Sachs Group, Inc. (The) by 0.3% in the 2nd quarter. Geller Family Office Services LLC now owns 944 shares of the investment management company’s stock worth $209,000 after buying an additional 3 shares during the period. Finally, Hudock Capital Group LLC boosted its holdings in Goldman Sachs Group, Inc. (The) by 0.4% in the 2nd quarter. Hudock Capital Group LLC now owns 1,134 shares of the investment management company’s stock worth $251,000 after buying an additional 4 shares during the period. 73.34% of the stock is owned by institutional investors.

A number of equities research analysts have recently weighed in on GS shares. Societe Generale set a $198.00 price target on Goldman Sachs Group, Inc. (The) and gave the company a “sell” rating in a report on Thursday, October 19th. Deutsche Bank AG restated a “buy” rating on shares of Goldman Sachs Group, Inc. (The) in a research report on Monday, July 3rd. TheStreet upgraded Goldman Sachs Group, Inc. (The) from a “c+” rating to a “b” rating in a research report on Friday, October 13th. Zacks Investment Research upgraded Goldman Sachs Group, Inc. (The) from a “sell” rating to a “hold” rating in a research report on Tuesday, August 29th. Finally, Citigroup Inc reiterated a “neutral” rating and set a $250.00 price target (up previously from $225.00) on shares of Goldman Sachs Group, Inc. (The) in a research report on Monday, October 9th. Two analysts have rated the stock with a sell rating, seventeen have issued a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $244.98.

WARNING: “Goldman Sachs Group, Inc. (The) (NYSE:GS) Posts Quarterly Earnings Results, Beats Estimates By $0.85 EPS” was posted by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are reading this story on another publication, it was illegally copied and republished in violation of U.S. and international copyright and trademark laws. The original version of this story can be viewed at https://www.dispatchtribunal.com/2017/10/26/goldman-sachs-group-inc-the-gs-issues-quarterly-earnings-results.html.

Goldman Sachs Group, Inc. (The) Company Profile

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.

Earnings History for Goldman Sachs Group, Inc. (The) (NYSE:GS)

Receive News & Ratings for Goldman Sachs Group Inc. (The) Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Goldman Sachs Group Inc. (The) and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply