Goldman Sachs Group Inc (NYSE:GS) – Investment analysts at Oppenheimer lifted their Q4 2018 earnings estimates for shares of Goldman Sachs Group in a note issued to investors on Tuesday, July 17th, Zacks Investment Research reports. Oppenheimer analyst C. Kotowski now forecasts that the investment management company will earn $6.56 per share for the quarter, up from their prior forecast of $6.28. Oppenheimer currently has a “Outperform” rating and a $335.00 price target on the stock.
A number of other brokerages also recently commented on GS. Credit Suisse Group boosted their price objective on Goldman Sachs Group from $274.00 to $280.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 18th. Zacks Investment Research raised Goldman Sachs Group from a “hold” rating to a “strong-buy” rating and set a $292.00 price target for the company in a report on Friday, April 20th. Keefe, Bruyette & Woods lowered their price target on Goldman Sachs Group from $260.00 to $255.00 and set a “hold” rating for the company in a report on Wednesday, July 18th. Royal Bank of Canada reaffirmed a “neutral” rating and issued a $265.00 price target on shares of Goldman Sachs Group in a report on Tuesday, April 17th. Finally, Buckingham Research upped their price target on Goldman Sachs Group from $285.00 to $292.00 and gave the company a “neutral” rating in a report on Tuesday, April 17th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and ten have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $272.18.
Shares of Goldman Sachs Group stock traded down $4.17 on Thursday, reaching $229.61. 3,862,406 shares of the company were exchanged, compared to its average volume of 3,140,587. Goldman Sachs Group has a 1-year low of $214.64 and a 1-year high of $275.31. The company has a market cap of $89.24 billion, a PE ratio of 11.62, a P/E/G ratio of 0.75 and a beta of 1.31. The company has a debt-to-equity ratio of 3.02, a quick ratio of 0.92 and a current ratio of 0.90.
Goldman Sachs Group (NYSE:GS) last announced its quarterly earnings data on Tuesday, July 17th. The investment management company reported $5.98 EPS for the quarter, topping the Zacks’ consensus estimate of $4.66 by $1.32. Goldman Sachs Group had a return on equity of 13.58% and a net margin of 15.72%. The business had revenue of $9.40 billion during the quarter, compared to the consensus estimate of $8.74 billion. During the same period in the previous year, the company posted $3.95 earnings per share. The business’s revenue for the quarter was up 19.2% on a year-over-year basis.
A number of hedge funds and other institutional investors have recently modified their holdings of GS. Summit Trail Advisors LLC lifted its stake in Goldman Sachs Group by 24,200.2% in the first quarter. Summit Trail Advisors LLC now owns 944,790 shares of the investment management company’s stock valued at $945,000 after buying an additional 940,902 shares during the last quarter. Investec Asset Management LTD lifted its stake in Goldman Sachs Group by 360.3% in the second quarter. Investec Asset Management LTD now owns 704,170 shares of the investment management company’s stock valued at $155,319,000 after buying an additional 551,181 shares during the last quarter. Millennium Management LLC lifted its stake in Goldman Sachs Group by 100.6% in the first quarter. Millennium Management LLC now owns 999,532 shares of the investment management company’s stock valued at $251,742,000 after buying an additional 501,354 shares during the last quarter. PointState Capital LP purchased a new stake in Goldman Sachs Group in the first quarter valued at approximately $109,184,000. Finally, Toronto Dominion Bank lifted its stake in Goldman Sachs Group by 162.5% in the second quarter. Toronto Dominion Bank now owns 504,122 shares of the investment management company’s stock valued at $111,171,000 after buying an additional 312,072 shares during the last quarter. Institutional investors own 72.60% of the company’s stock.
In other Goldman Sachs Group news, insider David M. Solomon sold 8,488 shares of the business’s stock in a transaction that occurred on Wednesday, August 1st. The stock was sold at an average price of $237.92, for a total value of $2,019,464.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider David M. Solomon sold 3,497 shares of the business’s stock in a transaction that occurred on Tuesday, May 15th. The shares were sold at an average price of $244.40, for a total value of $854,666.80. The disclosure for this sale can be found here. In the last quarter, insiders sold 20,367 shares of company stock valued at $4,819,426. 2.57% of the stock is owned by company insiders.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 27th. Shareholders of record on Thursday, August 30th will be paid a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a yield of 1.39%. The ex-dividend date of this dividend is Wednesday, August 29th. Goldman Sachs Group’s dividend payout ratio is currently 16.19%.
About Goldman Sachs Group
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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