Zacks Investment Research upgraded shares of Goldman Sachs Group (NYSE:GS) from a hold rating to a buy rating in a research report released on Friday morning. The brokerage currently has $206.00 price objective on the investment management company’s stock.
According to Zacks, “Shares of Goldman have underperformed the industry over the past three months. Yet, the company boasts an impressive earnings surprise history, surpassing the Zacks Consensus Estimate in all the trailing four quarters. The company’s well-diversified business and focus to capitalize on growth opportunities through strategic moves along with cost-control efforts will continue to strengthen the overall business. Notably, Goldman has been entangled in the recent heightened scandal related to the multibillion-dollar 1Malaysia Development Bhd (1MDB), which is a major concern. While declining revenues from Institutional Client Services division remain hindrance to the bottom-line expansion, the launching of its online retail bank, Marcus with an aim to enter Britain’s cash savings account market will support growth.”
GS has been the subject of several other research reports. Bank of America cut shares of Goldman Sachs Group from a buy rating to a neutral rating and decreased their target price for the stock from $280.00 to $225.00 in a research report on Friday, November 30th. ValuEngine cut shares of Goldman Sachs Group from a sell rating to a strong sell rating in a research report on Thursday, November 15th. BMO Capital Markets upped their target price on shares of Goldman Sachs Group from $261.00 to $276.00 and gave the stock a market perform rating in a research report on Wednesday, October 17th. They noted that the move was a valuation call. JPMorgan Chase & Co. restated a buy rating and issued a $285.00 target price on shares of Goldman Sachs Group in a research report on Tuesday, October 16th. Finally, Morgan Stanley cut shares of Goldman Sachs Group from an overweight rating to an equal weight rating and set a $226.00 target price for the company. in a research report on Wednesday, November 21st. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have issued a buy rating to the company. The company currently has a consensus rating of Hold and a consensus target price of $271.15.
Shares of NYSE:GS traded down $4.42 during trading on Friday, reaching $179.67. 3,919,320 shares of the company’s stock traded hands, compared to its average volume of 4,134,521. Goldman Sachs Group has a 12 month low of $179.00 and a 12 month high of $275.31. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 3.04. The company has a market cap of $68.48 billion, a PE ratio of 9.09, a P/E/G ratio of 0.60 and a beta of 1.11.
Goldman Sachs Group (NYSE:GS) last posted its earnings results on Tuesday, October 16th. The investment management company reported $6.28 EPS for the quarter, topping the consensus estimate of $5.38 by $0.90. Goldman Sachs Group had a net margin of 16.68% and a return on equity of 14.10%. The firm had revenue of $8.65 billion during the quarter, compared to analysts’ expectations of $8.43 billion. During the same quarter in the prior year, the firm earned $5.02 EPS. Goldman Sachs Group’s quarterly revenue was up 3.8% on a year-over-year basis. As a group, research analysts forecast that Goldman Sachs Group will post 25.33 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 28th. Stockholders of record on Friday, November 30th will be paid a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.78%. The ex-dividend date of this dividend is Thursday, November 29th. Goldman Sachs Group’s dividend payout ratio is currently 16.19%.
Large investors have recently modified their holdings of the company. Prio Wealth Limited Partnership lifted its stake in shares of Goldman Sachs Group by 3.5% in the 3rd quarter. Prio Wealth Limited Partnership now owns 127,554 shares of the investment management company’s stock worth $28,602,000 after acquiring an additional 4,344 shares during the period. Dubuque Bank & Trust Co. lifted its stake in shares of Goldman Sachs Group by 935.0% in the 3rd quarter. Dubuque Bank & Trust Co. now owns 18,703 shares of the investment management company’s stock worth $4,194,000 after acquiring an additional 16,896 shares during the period. Virtu Financial LLC lifted its stake in shares of Goldman Sachs Group by 72.0% in the 3rd quarter. Virtu Financial LLC now owns 12,537 shares of the investment management company’s stock worth $1,317,725,000 after acquiring an additional 5,248 shares during the period. Smithbridge Asset Management Inc. DE lifted its stake in shares of Goldman Sachs Group by 15.6% in the 3rd quarter. Smithbridge Asset Management Inc. DE now owns 10,191 shares of the investment management company’s stock worth $2,285,000 after acquiring an additional 1,375 shares during the period. Finally, Pillar Pacific Capital Management LLC lifted its stake in shares of Goldman Sachs Group by 2.5% in the 3rd quarter. Pillar Pacific Capital Management LLC now owns 32,662 shares of the investment management company’s stock worth $7,324,000 after acquiring an additional 785 shares during the period. 70.94% of the stock is owned by institutional investors.
Goldman Sachs Group Company Profile
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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