The Goldman Sachs Group (NYSE:GS) Sets New 52-Week High After Better-Than-Expected Earnings

The Goldman Sachs Group, Inc. (NYSE:GSGet Free Report)’s stock price hit a new 52-week high during mid-day trading on Thursday after the company announced better than expected quarterly earnings. The company traded as high as $967.64 and last traded at $969.9140, with a volume of 1417227 shares. The stock had previously closed at $932.67.

The investment management company reported $14.01 earnings per share for the quarter, beating the consensus estimate of $11.52 by $2.49. The Goldman Sachs Group had a return on equity of 15.29% and a net margin of 13.18%.During the same quarter in the previous year, the firm posted $11.95 EPS. The Goldman Sachs Group’s revenue for the quarter was down 3.0% on a year-over-year basis.

Trending Headlines about The Goldman Sachs Group

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Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on GS shares. BNP Paribas Exane increased their target price on The Goldman Sachs Group from $685.00 to $775.00 and gave the stock a “neutral” rating in a report on Friday, October 17th. BMO Capital Markets upped their price objective on The Goldman Sachs Group from $785.00 to $980.00 and gave the stock a “market perform” rating in a research report on Tuesday, January 6th. Deutsche Bank Aktiengesellschaft boosted their target price on The Goldman Sachs Group from $725.00 to $790.00 and gave the company a “hold” rating in a research note on Tuesday, September 30th. Daiwa Capital Markets raised their price target on shares of The Goldman Sachs Group from $823.00 to $927.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 6th. Finally, Barclays boosted their price objective on shares of The Goldman Sachs Group from $850.00 to $1,048.00 and gave the stock an “overweight” rating in a research report on Monday, January 5th. Five equities research analysts have rated the stock with a Buy rating, seventeen have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $849.61.

Check Out Our Latest Research Report on The Goldman Sachs Group

Institutional Trading of The Goldman Sachs Group

A number of hedge funds have recently made changes to their positions in the business. Brighton Jones LLC lifted its position in The Goldman Sachs Group by 17.1% during the fourth quarter. Brighton Jones LLC now owns 3,474 shares of the investment management company’s stock worth $1,989,000 after acquiring an additional 508 shares during the last quarter. Revolve Wealth Partners LLC increased its stake in shares of The Goldman Sachs Group by 7.0% during the fourth quarter. Revolve Wealth Partners LLC now owns 888 shares of the investment management company’s stock worth $508,000 after purchasing an additional 58 shares during the period. Apella Capital LLC acquired a new stake in The Goldman Sachs Group during the 2nd quarter worth approximately $288,000. Beacon Financial Group raised its stake in The Goldman Sachs Group by 16.4% in the 2nd quarter. Beacon Financial Group now owns 562 shares of the investment management company’s stock worth $398,000 after purchasing an additional 79 shares in the last quarter. Finally, Bank of New Hampshire boosted its stake in shares of The Goldman Sachs Group by 11.1% in the second quarter. Bank of New Hampshire now owns 270 shares of the investment management company’s stock valued at $191,000 after buying an additional 27 shares during the period. 71.21% of the stock is owned by institutional investors and hedge funds.

The Goldman Sachs Group Trading Up 3.6%

The stock has a market capitalization of $289.90 billion, a P/E ratio of 19.73, a P/E/G ratio of 0.99 and a beta of 1.33. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 2.53. The business has a 50-day moving average price of $861.31 and a two-hundred day moving average price of $789.40.

The Goldman Sachs Group Company Profile

(Get Free Report)

The Goldman Sachs Group, Inc is a global investment banking and financial services firm headquartered in New York City. Founded in 1869 as a commercial paper business, the company has grown into a diversified financial institution that provides a broad range of services to corporations, financial institutions, governments and individuals. The firm is led by Chief Executive Officer David M. Solomon and operates across major financial centers worldwide.

Goldman Sachs’ core businesses include investment banking, global markets, asset and wealth management, and consumer banking.

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