The Goldman Sachs Group (NYSE:GS) Announces Earnings Results

The Goldman Sachs Group (NYSE:GS) announced its quarterly earnings data on Tuesday. The investment management company reported $8.40 EPS for the quarter, beating the consensus estimate of $6.89 by $1.51, Briefing.com reports. The firm had revenue of $12.70 billion during the quarter, compared to analysts’ expectations of $11.77 billion. The Goldman Sachs Group had a net margin of 9.36% and a return on equity of 10.56%. The business’s revenue for the quarter was up 7.4% compared to the same quarter last year. During the same quarter last year, the business earned $5.47 earnings per share.

The Goldman Sachs Group Trading Up 1.4 %

NYSE GS opened at $529.86 on Thursday. The company has a debt-to-equity ratio of 2.20, a quick ratio of 0.72 and a current ratio of 0.72. The company has a 50-day simple moving average of $496.53 and a 200-day simple moving average of $467.83. The Goldman Sachs Group has a one year low of $289.36 and a one year high of $540.51. The firm has a market capitalization of $170.86 billion, a PE ratio of 20.69, a price-to-earnings-growth ratio of 0.77 and a beta of 1.36.

The Goldman Sachs Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Monday, December 2nd will be given a dividend of $3.00 per share. This represents a $12.00 annualized dividend and a dividend yield of 2.26%. The ex-dividend date is Monday, December 2nd. The Goldman Sachs Group’s dividend payout ratio is currently 46.86%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on GS shares. Bank of America raised their target price on shares of The Goldman Sachs Group from $563.00 to $575.00 and gave the company a “buy” rating in a report on Wednesday. Evercore ISI lifted their price objective on The Goldman Sachs Group from $520.00 to $575.00 and gave the company an “outperform” rating in a research report on Wednesday. Morgan Stanley upped their price target on shares of The Goldman Sachs Group from $560.00 to $570.00 and gave the stock an “overweight” rating in a research report on Wednesday. BMO Capital Markets raised their price objective on The Goldman Sachs Group from $360.00 to $373.00 and gave the stock a “market perform” rating in a report on Wednesday, July 17th. Finally, UBS Group raised their target price on shares of The Goldman Sachs Group from $550.00 to $560.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. Five analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, The Goldman Sachs Group has a consensus rating of “Moderate Buy” and an average price target of $524.69.

The Goldman Sachs Group Company Profile

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.