The Goldman Sachs Group (NYSE:GS) Releases Quarterly Earnings Results, Beats Estimates By $1.09 EPS

The Goldman Sachs Group (NYSE:GS) announced its earnings results on Wednesday. The investment management company reported $10.91 EPS for the quarter, topping the consensus estimate of $9.82 by $1.09, Zacks reports. The Goldman Sachs Group had a return on equity of 13.76% and a net margin of 11.86%.

The Goldman Sachs Group Stock Performance

Shares of The Goldman Sachs Group stock opened at $702.28 on Wednesday. The firm has a fifty day moving average of $638.26 and a two-hundred day moving average of $598.28. The stock has a market capitalization of $215.49 billion, a price-to-earnings ratio of 16.30, a PEG ratio of 0.97 and a beta of 1.35. The Goldman Sachs Group has a 52 week low of $437.37 and a 52 week high of $726.00. The company has a debt-to-equity ratio of 2.41, a quick ratio of 0.68 and a current ratio of 0.68.

Analysts Set New Price Targets

GS has been the subject of several research analyst reports. Royal Bank Of Canada restated a “sector perform” rating on shares of The Goldman Sachs Group in a research report on Thursday, July 10th. Wells Fargo & Company boosted their price objective on shares of The Goldman Sachs Group from $650.00 to $785.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 8th. Morgan Stanley restated an “equal weight” rating on shares of The Goldman Sachs Group in a research report on Thursday, July 10th. Citizens Jmp restated a “market perform” rating on shares of The Goldman Sachs Group in a research report on Monday. Finally, JPMorgan Chase & Co. dropped their price objective on shares of The Goldman Sachs Group from $625.00 to $614.00 and set an “overweight” rating for the company in a research report on Thursday, April 3rd. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, The Goldman Sachs Group presently has an average rating of “Hold” and an average target price of $614.00.

Institutional Trading of The Goldman Sachs Group

An institutional investor recently raised its position in The Goldman Sachs Group stock. Revolve Wealth Partners LLC grew its position in The Goldman Sachs Group, Inc. (NYSE:GS) by 7.0% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 888 shares of the investment management company’s stock after buying an additional 58 shares during the period. Revolve Wealth Partners LLC’s holdings in The Goldman Sachs Group were worth $508,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 71.21% of the company’s stock.

About The Goldman Sachs Group

The Goldman Sachs Group, Inc, a financial institution, provides a range of financial services for corporations, financial institutions, governments, and individuals worldwide. It operates through Global Banking & Markets, Asset & Wealth Management, and Platform Solutions segments. The Global Banking & Markets segment provides financial advisory services, including strategic advisory assignments related to mergers and acquisitions, divestitures, corporate defense activities, restructurings, and spin-offs; and relationship lending, and acquisition financing, as well as secured lending, through structured credit and asset-backed lending and involved in financing under securities to resale agreements.