Goldman Sachs Group (NYSE:GS) had its price target lifted by Credit Suisse Group from $260.00 to $275.00 in a research note released on Thursday, The Fly reports. Credit Suisse Group currently has an outperform rating on the investment management company’s stock.
Several other research analysts have also recently issued reports on the stock. DA Davidson began coverage on shares of Goldman Sachs Group in a report on Wednesday, January 8th. They issued a buy rating and a $272.00 target price for the company. Royal Bank of Canada set a $220.00 target price on shares of Goldman Sachs Group and gave the stock a neutral rating in a report on Wednesday, January 8th. Morgan Stanley reaffirmed an equal weight rating and issued a $250.00 target price (up from $244.00) on shares of Goldman Sachs Group in a report on Monday, November 18th. Buckingham Research raised shares of Goldman Sachs Group from a neutral rating to a buy rating and lifted their target price for the stock from $219.00 to $290.00 in a report on Thursday, January 9th. Finally, JMP Securities raised shares of Goldman Sachs Group from a market perform rating to an outperform rating and set a $290.00 target price for the company in a report on Monday. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and thirteen have issued a buy rating to the company. The stock presently has a consensus rating of Buy and an average target price of $261.53.
NYSE GS traded down $0.26 during trading hours on Thursday, reaching $249.46. 3,090,515 shares of the company’s stock traded hands, compared to its average volume of 3,719,323. Goldman Sachs Group has a 52-week low of $180.73 and a 52-week high of $250.46. The firm has a market cap of $86.99 billion, a PE ratio of 9.87, a PEG ratio of 1.34 and a beta of 1.37. The firm has a 50-day simple moving average of $230.32 and a 200 day simple moving average of $215.43. The company has a debt-to-equity ratio of 2.68, a current ratio of 0.78 and a quick ratio of 0.78.
Goldman Sachs Group (NYSE:GS) last issued its quarterly earnings results on Wednesday, January 15th. The investment management company reported $4.69 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.20 by ($0.51). Goldman Sachs Group had a net margin of 18.86% and a return on equity of 11.41%. The business had revenue of $9.96 billion for the quarter, compared to analysts’ expectations of $8.56 billion. During the same period last year, the business earned $6.04 earnings per share. The company’s revenue was up 23.2% on a year-over-year basis. Sell-side analysts forecast that Goldman Sachs Group will post 21.54 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, March 30th. Shareholders of record on Monday, March 2nd will be issued a $1.25 dividend. The ex-dividend date of this dividend is Friday, February 28th. This represents a $5.00 annualized dividend and a yield of 2.00%. Goldman Sachs Group’s dividend payout ratio (DPR) is presently 19.79%.
Several hedge funds have recently made changes to their positions in GS. Rampart Investment Management Company LLC grew its stake in shares of Goldman Sachs Group by 40.4% in the second quarter. Rampart Investment Management Company LLC now owns 4,396 shares of the investment management company’s stock worth $899,000 after acquiring an additional 1,264 shares during the period. Private Advisor Group LLC grew its stake in shares of Goldman Sachs Group by 22.4% in the second quarter. Private Advisor Group LLC now owns 10,957 shares of the investment management company’s stock worth $2,242,000 after acquiring an additional 2,007 shares during the period. Prospera Financial Services Inc bought a new stake in shares of Goldman Sachs Group in the second quarter worth approximately $348,000. Marshall Wace North America L.P. grew its stake in shares of Goldman Sachs Group by 163.2% in the second quarter. Marshall Wace North America L.P. now owns 32,873 shares of the investment management company’s stock worth $6,726,000 after acquiring an additional 20,383 shares during the period. Finally, Capital Bank & Trust Co grew its stake in shares of Goldman Sachs Group by 12.2% in the second quarter. Capital Bank & Trust Co now owns 2,830 shares of the investment management company’s stock worth $579,000 after acquiring an additional 308 shares during the period. Hedge funds and other institutional investors own 69.53% of the company’s stock.
About Goldman Sachs Group
The Goldman Sachs Group, Inc operates as an investment banking, securities, and investment management company worldwide. It operates in 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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