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

The Goldman Sachs Group (NYSE:GS) released its quarterly earnings results on Wednesday. The investment management company reported $11.95 earnings per share for the quarter, beating the consensus estimate of $8.21 by $3.74, Briefing.com reports. The Goldman Sachs Group had a return on equity of 11.39% and a net margin of 9.89%. The firm had revenue of $13.87 billion for the quarter, compared to analysts’ expectations of $12.36 billion. During the same period in the prior year, the firm earned $5.48 EPS. The company’s revenue was up 22.5% compared to the same quarter last year.

The Goldman Sachs Group Price Performance

Shares of The Goldman Sachs Group stock opened at $605.89 on Thursday. The firm has a market cap of $190.19 billion, a PE ratio of 17.78, a PEG ratio of 0.66 and a beta of 1.38. The stock has a 50 day moving average of $585.67 and a 200 day moving average of $527.58. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 2.32. The Goldman Sachs Group has a 12 month low of $372.07 and a 12 month high of $612.73.

Insiders Place Their Bets

In other news, CEO David M. Solomon sold 6,550 shares of the business’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $610.91, for a total value of $4,001,460.50. Following the sale, the chief executive officer now directly owns 117,883 shares in the company, valued at $72,015,903.53. The trade was a 5.26 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director David A. Viniar sold 5,000 shares of The Goldman Sachs Group stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $612.08, for a total value of $3,060,400.00. Following the completion of the transaction, the director now owns 608,425 shares of the company’s stock, valued at approximately $372,404,774. This represents a 0.82 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 20,940 shares of company stock valued at $12,656,179 in the last quarter. 0.57% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research firms have weighed in on GS. Oppenheimer lowered their target price on The Goldman Sachs Group from $677.00 to $639.00 and set an “outperform” rating on the stock in a report on Friday, January 3rd. Citigroup raised their price objective on shares of The Goldman Sachs Group from $485.00 to $585.00 and gave the stock a “neutral” rating in a report on Thursday, November 21st. Bank of America lifted their price target on shares of The Goldman Sachs Group from $563.00 to $575.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. HSBC cut The Goldman Sachs Group from a “buy” rating to a “hold” rating and raised their target price for the stock from $569.00 to $608.00 in a report on Tuesday, November 26th. Finally, Keefe, Bruyette & Woods boosted their price target on The Goldman Sachs Group from $570.00 to $686.00 and gave the company an “outperform” rating in a report on Tuesday, December 3rd. Eight analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, The Goldman Sachs Group currently has a consensus rating of “Moderate Buy” and an average target price of $569.31.

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.