BMO Capital Markets Cuts The Goldman Sachs Group (NYSE:GS) Price Target to $970.00

The Goldman Sachs Group (NYSE:GS) had its target price cut by BMO Capital Markets from $972.00 to $970.00 in a research note released on Tuesday morning,Benzinga reports. They currently have a market perform rating on the investment management company’s stock.

A number of other equities analysts have also recently issued reports on GS. Evercore reiterated an “outperform” rating on shares of The Goldman Sachs Group in a research note on Monday, July 6th. Wells Fargo & Company reduced their price objective on shares of The Goldman Sachs Group from $1,325.00 to $1,175.00 and set an “overweight” rating for the company in a research note on Friday, September 25th. Rothschild & Co Redburn lifted their target price on shares of The Goldman Sachs Group from $870.00 to $920.00 and gave the stock a “neutral” rating in a report on Thursday, June 25th. Zacks Research downgraded shares of The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 18th. Finally, Keefe, Bruyette & Woods upped their target price on shares of The Goldman Sachs Group from $1,050.00 to $1,130.00 and gave the stock a “market perform” rating in a research note on Wednesday, July 15th. Eleven research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $1,055.09.

The Goldman Sachs Group Stock Down 0.6%

Shares of NYSE:GS opened at $882.26 on Tuesday. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 3.17. The stock has a fifty day simple moving average of $992.83 and a two-hundred day simple moving average of $987.89. The Goldman Sachs Group has a 12-month low of $740.01 and a 12-month high of $1,153.99. The stock has a market capitalization of $256.89 billion, a price-to-earnings ratio of 13.62, a PEG ratio of 0.97 and a beta of 1.29.

The Goldman Sachs Group (NYSE:GS) last released its earnings results on Tuesday, July 14th. The investment management company reported $20.98 EPS for the quarter, topping analysts’ consensus estimates of $14.47 by $6.51. The Goldman Sachs Group had a return on equity of 19.16% and a net margin of 15.53%.The firm had revenue of $20.34 billion for the quarter, compared to analysts’ expectations of $16.22 billion. During the same period in the prior year, the firm posted $10.91 earnings per share. The company’s quarterly revenue was up 39.4% on a year-over-year basis. On average, research analysts anticipate that The Goldman Sachs Group will post 67.48 earnings per share for the current fiscal year.

The Goldman Sachs Group Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 1st were given a $5.00 dividend. This is a positive change from The Goldman Sachs Group’s previous quarterly dividend of $4.50. The ex-dividend date of this dividend was Tuesday, September 1st. This represents a $20.00 dividend on an annualized basis and a yield of 2.3%. The Goldman Sachs Group’s payout ratio is presently 30.87%.

Institutional Trading of The Goldman Sachs Group

Institutional investors have recently made changes to their positions in the stock. Mn Services Vermogensbeheer B.V. raised its holdings in shares of The Goldman Sachs Group by 1.5% during the third quarter. Mn Services Vermogensbeheer B.V. now owns 87,249 shares of the investment management company’s stock valued at $78,556,000 after purchasing an additional 1,300 shares during the last quarter. Diversified Management Inc. boosted its holdings in The Goldman Sachs Group by 4.7% in the third quarter. Diversified Management Inc. now owns 756 shares of the investment management company’s stock worth $681,000 after purchasing an additional 34 shares during the last quarter. Acropolis Investment Management LLC boosted its holdings in The Goldman Sachs Group by 3.0% in the third quarter. Acropolis Investment Management LLC now owns 650 shares of the investment management company’s stock worth $585,000 after purchasing an additional 19 shares during the last quarter. First Heartland Consultants Inc. grew its position in The Goldman Sachs Group by 11.8% in the 3rd quarter. First Heartland Consultants Inc. now owns 959 shares of the investment management company’s stock worth $863,000 after purchasing an additional 101 shares during the period. Finally, GAMMA Investing LLC raised its stake in The Goldman Sachs Group by 0.6% during the 3rd quarter. GAMMA Investing LLC now owns 10,675 shares of the investment management company’s stock valued at $9,612,000 after buying an additional 63 shares during the last quarter. Hedge funds and other institutional investors own 71.21% of the company’s stock.

Key Stories Impacting The Goldman Sachs Group

Here are the key news stories impacting The Goldman Sachs Group this week:

• Positive Sentiment: TD Cowen initiated coverage of GS with a Buy rating and a $1,050 price target, implying meaningful upside from recent levels and providing a new bullish analyst view.
• Positive Sentiment: Goldman’s planned special equity awards of more than $500 million for CEO David Solomon and other senior executives reflect strong five-year performance relative to many rivals. However, the size of the payout could also raise shareholder concerns about compensation. Goldman to pay top executives $500mn in special bonuses
• Neutral Sentiment: Investors are reviewing analyst projections for Goldman’s September-quarter revenue, earnings and operating metrics ahead of results. The previews offer potential catalysts but do not provide new company-reported figures. Seeking Clues to Goldman Q3 Earnings
• Neutral Sentiment: Goldman’s market capitalization briefly fell below Canada’s Royal Bank of Canada after RBC’s decade of growth, highlighting increasing competition among global financial institutions but having limited direct impact on GS fundamentals.
• Neutral Sentiment: Goldman upgraded Occidental Petroleum to Buy and adjusted its Sunrun price target to $11 while retaining a Buy rating. These calls may support the firm’s investment-banking and research franchise, but they do not materially change GS earnings expectations.
• Negative Sentiment: Higher bond yields have contributed to a broad sell-off in Goldman and other financial stocks, reducing investor appetite for risk and pressuring GS valuation.
• Negative Sentiment: Citi reportedly moved ahead of Goldman in global IPO underwriting rankings after winning several major listings. Losing the long-held leadership position could raise concerns about future equity-capital-markets fees and deal flow. Is Goldman Sachs Losing Its Grip On Global IPO Underwriting?
• Negative Sentiment: A breach at EY exposed data involving some Goldman wealth-management clients. Goldman says its own systems were not affected and client assets remain safe, limiting the direct impact but creating reputational and client-confidence risks.
• Negative Sentiment: UBS lowered its expectations for GS’s share price, adding to the cautious analyst sentiment surrounding the stock.

About The Goldman Sachs Group

The Goldman Sachs Group, Inc is a global financial services company headquartered in New York City. Founded in 1869, the firm provides services to corporations, financial institutions, governments, individuals and other clients through its investment banking, markets, asset management and wealth management businesses.

Goldman Sachs advises clients on mergers and acquisitions, financing and other strategic transactions, and facilitates trading in equities, fixed income, currencies and commodities.