Goldman Sachs (NYSE:GS) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research report issued on Friday. The brokerage currently has a $292.00 target price on the investment management company’s stock. Zacks Investment Research‘s price target indicates a potential upside of 15.02% from the company’s current price.
According to Zacks, “Shares of Goldman underperformed the industry over the past six months. 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 first-quarter 2018 results witnessed top-line strength. Strong trading activities on high volatility supported the bottom-line numbers. Though regulatory issues are concerns, we believe 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.”
Other research analysts have also recently issued reports about the stock. Vertical Group upgraded shares of Goldman Sachs from a “hold” rating to a “buy” rating in a research report on Friday, December 29th. Bank of America reiterated a “buy” rating and set a $300.00 price target (up from $249.30) on shares of Goldman Sachs in a research report on Monday, February 12th. JPMorgan Chase restated a “buy” rating and issued a $280.00 target price on shares of Goldman Sachs in a report on Thursday, March 15th. Wells Fargo set a $330.00 target price on shares of Goldman Sachs and gave the stock a “buy” rating in a report on Sunday, April 8th. Finally, Barclays raised their target price on shares of Goldman Sachs from $262.00 to $308.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 2nd. Three research analysts have rated the stock with a sell rating, twelve have given a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $266.20.
NYSE GS traded down $0.31 on Friday, reaching $253.86. 825,964 shares of the company’s stock traded hands, compared to its average volume of 3,530,286. Goldman Sachs has a 12 month low of $209.62 and a 12 month high of $275.31. The company has a debt-to-equity ratio of 2.69, a current ratio of 0.92 and a quick ratio of 0.93. The stock has a market capitalization of $96,491.30, a P/E ratio of 12.85, a PEG ratio of 1.01 and a beta of 1.37.
Goldman Sachs (NYSE:GS) last issued its quarterly earnings results on Tuesday, April 17th. The investment management company reported $6.95 EPS for the quarter, beating analysts’ consensus estimates of $5.58 by $1.37. Goldman Sachs had a net margin of 14.27% and a return on equity of 12.10%. The business had revenue of $10.04 billion for the quarter, compared to analysts’ expectations of $8.73 billion. During the same period last year, the business earned $5.15 earnings per share. The business’s quarterly revenue was up 25.0% on a year-over-year basis. equities analysts expect that Goldman Sachs will post 22.1 earnings per share for the current fiscal year.
In other Goldman Sachs news, EVP John F.W. Rogers sold 4,400 shares of the firm’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $265.37, for a total transaction of $1,167,628.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider R. Martin Chavez sold 11,829 shares of the firm’s stock in a transaction on Wednesday, January 31st. The shares were sold at an average price of $268.73, for a total value of $3,178,807.17. The disclosure for this sale can be found here. In the last quarter, insiders sold 66,048 shares of company stock worth $17,668,347. 2.57% of the stock is currently owned by company insiders.
A number of institutional investors have recently made changes to their positions in GS. Washington Trust Bank lifted its position in Goldman Sachs by 7.1% during 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. Stillwater Investment Management LLC raised its position in shares of Goldman Sachs by 5.8% in the 4th quarter. Stillwater Investment Management LLC now owns 11,482 shares of the investment management company’s stock worth $2,925,000 after purchasing an additional 632 shares during the last quarter. Abner Herrman & Brock LLC purchased a new position in shares of Goldman Sachs in the 4th quarter worth about $407,000. DnB Asset Management AS raised its position in shares of Goldman Sachs by 3.3% in the 4th quarter. DnB Asset Management AS now owns 38,510 shares of the investment management company’s stock worth $9,811,000 after purchasing an additional 1,217 shares during the last quarter. Finally, Deane Retirement Strategies Inc. purchased a new position in shares of Goldman Sachs in the 4th quarter worth about $1,563,000. 73.21% of the stock is owned by institutional investors and hedge funds.
Goldman Sachs 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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