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

The Goldman Sachs Group (NYSE:GS) released its earnings results on Tuesday. The investment management company reported $8.40 earnings per share for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $12.70 billion during the quarter, compared to the consensus estimate of $11.77 billion. During the same period in the prior year, the firm earned $5.47 EPS. The company’s revenue was up 7.4% compared to the same quarter last year.

The Goldman Sachs Group Stock Down 0.2 %

Shares of GS traded down $0.86 on Thursday, reaching $529.00. The stock had a trading volume of 2,095,015 shares, compared to its average volume of 2,218,279. The firm has a market capitalization of $170.58 billion, a price-to-earnings ratio of 20.78, a price-to-earnings-growth ratio of 0.77 and a beta of 1.36. 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 12-month low of $289.36 and a 12-month high of $540.51. 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 Announces Dividend

The company 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 dividend of $3.00 per share. The ex-dividend date is Monday, December 2nd. This represents a $12.00 annualized dividend and a yield of 2.27%. The Goldman Sachs Group’s payout ratio is 46.86%.

Analysts Set New Price Targets

GS has been the topic of several recent research reports. Wolfe Research upgraded The Goldman Sachs Group to a “hold” rating in a research report on Wednesday, September 18th. Citigroup increased their price objective on The Goldman Sachs Group from $460.00 to $485.00 and gave the stock a “neutral” rating in a report on Tuesday, July 16th. Seaport Res Ptn lowered The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 2nd. JMP Securities increased their price target on shares of The Goldman Sachs Group from $525.00 to $550.00 and gave the stock a “market outperform” rating in a report on Wednesday, October 9th. Finally, Bank of America raised 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. Five investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price 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.