Goldman Sachs (NYSE:GS) had its price objective upped by Oppenheimer from $280.00 to $308.00 in a research report report published on Wednesday. They currently have an outperform rating on the investment management company’s stock. Oppenheimer also issued estimates for Goldman Sachs’ Q2 2018 earnings at $4.84 EPS, Q3 2018 earnings at $5.35 EPS, Q4 2018 earnings at $6.28 EPS, FY2018 earnings at $23.41 EPS and FY2019 earnings at $25.64 EPS.
Other analysts have also recently issued research reports about the stock. Wells Fargo reissued an outperform rating and issued a $320.00 target price on shares of Goldman Sachs in a research note on Thursday, January 25th. Vetr raised shares of Goldman Sachs from a sell rating to a hold rating and set a $246.36 price objective on the stock in a research note on Thursday, February 8th. Zacks Investment Research raised shares of Goldman Sachs from a hold rating to a buy rating and set a $294.00 price objective on the stock in a research note on Tuesday, March 20th. Royal Bank of Canada reaffirmed a neutral rating and set a $265.00 price objective on shares of Goldman Sachs in a research note on Tuesday, April 17th. Finally, BMO Capital Markets decreased their price objective on shares of Goldman Sachs to $221.00 and set a market perform rating on the stock in a research note on Thursday, January 18th. Three equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of Hold and a consensus target price of $266.78.
NYSE GS opened at $251.96 on Wednesday. The stock has a market capitalization of $96,555.88, a P/E ratio of 12.75, a price-to-earnings-growth ratio of 0.89 and a beta of 1.37. Goldman Sachs has a twelve month low of $209.62 and a twelve month high of $275.31. The company has a current ratio of 0.92, a quick ratio of 0.93 and a debt-to-equity ratio of 2.69.
Goldman Sachs (NYSE:GS) last posted its earnings results on Tuesday, April 17th. The investment management company reported $6.95 earnings per share for the quarter, beating the Zacks’ consensus estimate of $5.58 by $1.37. The business had revenue of $10.04 billion for the quarter, compared to analysts’ expectations of $8.73 billion. Goldman Sachs had a net margin of 14.27% and a return on equity of 12.10%. The firm’s revenue for the quarter was up 25.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $5.15 earnings per share. research analysts anticipate that Goldman Sachs will post 23.03 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, June 28th. Stockholders of record on Thursday, May 31st will be given a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.27%. This is a positive change from Goldman Sachs’s previous quarterly dividend of $0.75. The ex-dividend date of this dividend is Wednesday, May 30th. Goldman Sachs’s dividend payout ratio is presently 15.18%.
In other news, insider R. Martin Chavez sold 11,829 shares of the company’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $259.22, for a total transaction of $3,066,313.38. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Vice Chairman Pablo J. Salame sold 10,000 shares of the stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $270.42, for a total transaction of $2,704,200.00. The disclosure for this sale can be found here. Insiders have sold 66,048 shares of company stock worth $17,668,347 over the last quarter. 2.57% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in GS. Crestwood Advisors Group LLC lifted its holdings in Goldman Sachs by 0.6% in the third quarter. Crestwood Advisors Group LLC now owns 57,976 shares of the investment management company’s stock valued at $13,751,000 after buying an additional 325 shares during the period. Steward Partners Investment Advisory LLC acquired a new position in Goldman Sachs in the third quarter valued at approximately $2,162,000. AXA lifted its holdings in Goldman Sachs by 17.0% in the third quarter. AXA now owns 107,355 shares of the investment management company’s stock valued at $25,463,000 after buying an additional 15,615 shares during the period. Washington Trust Bank lifted its holdings in Goldman Sachs by 7.1% in the fourth quarter. Washington Trust Bank now owns 31,187 shares of the investment management company’s stock valued at $7,945,000 after buying an additional 2,062 shares during the period. Finally, Stillwater Investment Management LLC lifted its holdings in Goldman Sachs by 5.8% in the fourth quarter. Stillwater Investment Management LLC now owns 11,482 shares of the investment management company’s stock valued at $2,925,000 after buying an additional 632 shares during the period. Institutional investors and hedge funds own 73.21% of the company’s stock.
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About Goldman Sachs
The Goldman Sachs Group, Inc operates as an investment banking, securities, and investment management company worldwide. It operates through four segments: Investment Banking, Institutional Client Services, Investing & Lending, and Investment Management. The Investment Banking segment provides financial advisory services, including strategic advisory assignments related to mergers and acquisitions, divestitures, corporate defense activities, restructurings, spin-offs, and risk management; and underwriting services, such as debt and equity underwriting of public offerings and private placements of various securities and other financial instruments, as well as derivative transactions with public and private sector clients.
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