Research Analysts’ Recent Ratings Changes for Goldman Sachs Group (GS)
Several brokerages have updated their recommendations and price targets on shares of Goldman Sachs Group (NYSE: GS) in the last few weeks:
- 9/25/2018 – Goldman Sachs Group is now covered by analysts at Wolfe Research. They set an “outperform” rating on the stock.
- 9/20/2018 – Goldman Sachs Group had its “buy” rating reaffirmed by analysts at Wells Fargo & Co.
- 9/12/2018 – Goldman Sachs Group was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Shares of Goldman have underperformed the industry year to date. However, the company boasts an impressive earnings surprise history. It surpassed the Zacks Consensus Estimate for earnings in all the trailing four quarters. The company’s well-diversified business and focus to capitalize on growth opportunities through strategic moves will continue to strengthen the overall business. Further, its cost-control measures are commendable. Additionally, the company’s steady capital-deployment activities have boosted investors' confidence, along with the Fed's approval to 2018 Capital Plan. However, litigation issues yet to be resolved remain a key concern. Also, declining revenues from Institutional Client Services division impact the company's topline.”
- 9/10/2018 – Goldman Sachs Group had its “buy” rating reaffirmed by analysts at JPMorgan Chase & Co.. They now have a $285.00 price target on the stock.
Shares of GS opened at $228.88 on Thursday. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 3.02. Goldman Sachs Group Inc has a 1 year low of $218.89 and a 1 year high of $275.31. The company has a market cap of $87.78 billion, a price-to-earnings ratio of 11.58, a P/E/G ratio of 0.74 and a beta of 1.27.
Goldman Sachs Group (NYSE:GS) last announced its quarterly earnings data on Tuesday, July 17th. The investment management company reported $5.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.66 by $1.32. Goldman Sachs Group had a net margin of 15.72% and a return on equity of 13.58%. The business had revenue of $9.40 billion during the quarter, compared to analyst estimates of $8.74 billion. During the same period last year, the firm posted $3.95 EPS. The company’s revenue was up 19.2% on a year-over-year basis. analysts forecast that Goldman Sachs Group Inc will post 24.69 earnings per share for the current fiscal year.
In other Goldman Sachs Group news, insider David M. Solomon sold 8,382 shares of the stock in a transaction that occurred on Wednesday, July 18th. The shares were sold at an average price of $232.08, for a total transaction of $1,945,294.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider David M. Solomon sold 8,488 shares of the stock in a transaction that occurred on Wednesday, August 1st. The shares were sold at an average price of $237.92, for a total transaction of $2,019,464.96. The disclosure for this sale can be found here. Company insiders own 2.57% of the company’s stock.
Several hedge funds have recently bought and sold shares of GS. Moneta Group Investment Advisors LLC grew its holdings in shares of Goldman Sachs Group by 7,719.0% in the second quarter. Moneta Group Investment Advisors LLC now owns 23,457 shares of the investment management company’s stock valued at $104,000 after purchasing an additional 23,157 shares in the last quarter. Zions Bancorporation purchased a new position in shares of Goldman Sachs Group in the second quarter valued at $109,000. First Mercantile Trust Co. purchased a new position in shares of Goldman Sachs Group in the second quarter valued at $110,000. Squar Milner Financial Services LLC purchased a new position in shares of Goldman Sachs Group in the second quarter valued at $157,000. Finally, Flagship Harbor Advisors LLC purchased a new position in shares of Goldman Sachs Group in the second quarter valued at $176,000. 70.95% of the stock is owned by hedge funds and other institutional investors.
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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