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

The Goldman Sachs Group (NYSE:GS) issued its quarterly earnings results on Tuesday. The investment management company reported $8.40 earnings per share (EPS) for the quarter, topping 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 company had revenue of $12.70 billion during the quarter, compared to analyst estimates of $11.77 billion. During the same quarter last year, the business posted $5.47 EPS. The Goldman Sachs Group’s quarterly revenue was up 7.4% compared to the same quarter last year.

The Goldman Sachs Group Stock Performance

GS stock opened at $529.86 on Thursday. The firm has a market cap of $170.86 billion, a price-to-earnings ratio of 20.69, a PEG ratio of 0.77 and a beta of 1.36. The Goldman Sachs Group has a twelve month low of $289.36 and a twelve month high of $540.51. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 2.20. The business’s fifty day simple moving average is $496.53 and its two-hundred day simple moving average is $467.83.

The Goldman Sachs Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Monday, December 2nd will be given a $3.00 dividend. This represents a $12.00 annualized dividend and a yield of 2.26%. The ex-dividend date of this dividend is Monday, December 2nd. The Goldman Sachs Group’s dividend payout ratio (DPR) is presently 46.86%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on GS. Royal Bank of Canada restated a “sector perform” rating and issued a $500.00 target price on shares of The Goldman Sachs Group in a research note on Tuesday, July 30th. Barclays raised their price target on The Goldman Sachs Group from $565.00 to $588.00 and gave the stock an “overweight” rating in a report on Wednesday. Evercore ISI increased their price objective on The Goldman Sachs Group from $520.00 to $575.00 and gave the stock an “outperform” rating in a report on Wednesday. BMO Capital Markets lifted their target price on 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. Finally, Citigroup raised their price objective on shares of The Goldman Sachs Group from $460.00 to $485.00 and gave the company a “neutral” rating in a research report on Tuesday, July 16th. Five equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $524.69.

About The Goldman Sachs Group

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.