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

The Goldman Sachs Group (NYSE:GS) released its quarterly earnings results 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 Goldman Sachs Group had a net margin of 9.36% and a return on equity of 10.56%. The business had revenue of $12.70 billion during the quarter, compared to analyst estimates of $11.77 billion. During the same period in the prior year, the firm posted $5.47 earnings per share. The company’s quarterly revenue was up 7.4% on a year-over-year basis.

The Goldman Sachs Group Price Performance

The Goldman Sachs Group stock opened at $529.86 on Thursday. The stock has a market capitalization of $170.86 billion, a P/E ratio of 20.69, a P/E/G ratio of 0.77 and a beta of 1.36. The company’s fifty day moving average price is $496.53 and its 200 day moving average price is $467.83. 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 Goldman Sachs Group has a 1 year low of $289.36 and a 1 year high of $540.51.

The Goldman Sachs Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Monday, December 2nd will be paid 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 of this dividend is Monday, December 2nd. The Goldman Sachs Group’s payout ratio is 46.86%.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Barclays increased their target price on shares of The Goldman Sachs Group from $565.00 to $588.00 and gave the company an “overweight” rating in a research report on Wednesday. Keefe, Bruyette & Woods raised their price objective on The Goldman Sachs Group from $555.00 to $570.00 and gave the stock an “outperform” rating in a research report on Wednesday. Wells Fargo & Company raised their price target on The Goldman Sachs Group from $504.00 to $550.00 and gave the stock an “overweight” rating in a report on Tuesday, July 16th. Bank of America increased their price objective on shares of The Goldman Sachs Group from $563.00 to $575.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, BMO Capital Markets boosted their price objective on shares of The Goldman Sachs Group from $360.00 to $373.00 and gave the company a “market perform” rating in a report on Wednesday, July 17th. Five analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, The Goldman Sachs Group has an average rating of “Moderate Buy” and a consensus target price 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.