Goldman Sachs Group (GS) PT Lowered to $225.00

Goldman Sachs Group (NYSE:GS) had its price target dropped by research analysts at Bank of America from $280.00 to $225.00 in a research note issued to investors on Sunday. The firm currently has a “neutral” rating on the investment management company’s stock. Bank of America’s price target would suggest a potential upside of 25.23% from the company’s current price.

GS has been the subject of several other reports. Zacks Investment Research lowered Goldman Sachs Group from a “buy” rating to a “hold” rating in a report on Wednesday, September 12th. BMO Capital Markets increased their price objective on Goldman Sachs Group from $261.00 to $276.00 and gave the stock a “market perform” rating in a report on Wednesday, October 17th. They noted that the move was a valuation call. Wells Fargo & Co reiterated a “buy” rating on shares of Goldman Sachs Group in a report on Thursday, September 20th. Wolfe Research began coverage on Goldman Sachs Group in a report on Tuesday, September 25th. They set an “outperform” rating for the company. Finally, Credit Suisse Group cut their price objective on Goldman Sachs Group from $280.00 to $258.00 and set an “outperform” rating for the company in a report on Friday. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and nine have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $267.71.

Shares of NYSE:GS traded down $4.42 during midday trading on Friday, hitting $179.67. 3,919,320 shares of the stock were exchanged, compared to its average volume of 4,134,521. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 3.04. Goldman Sachs Group has a 52-week low of $179.00 and a 52-week high of $275.31. The firm has a market cap of $66.83 billion, a price-to-earnings ratio of 9.09, a P/E/G ratio of 0.59 and a beta of 1.11.

Goldman Sachs Group (NYSE:GS) last announced its quarterly earnings data on Tuesday, October 16th. The investment management company reported $6.28 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $5.38 by $0.90. Goldman Sachs Group had a return on equity of 14.10% and a net margin of 16.68%. The business had revenue of $8.65 billion during the quarter, compared to analyst estimates of $8.43 billion. During the same period last year, the company earned $5.02 earnings per share. Goldman Sachs Group’s quarterly revenue was up 3.8% compared to the same quarter last year. On average, sell-side analysts forecast that Goldman Sachs Group will post 25.33 EPS for the current year.

A number of hedge funds and other institutional investors have recently bought and sold shares of GS. Moneta Group Investment Advisors LLC raised its holdings in Goldman Sachs Group by 7,719.0% during the second quarter. Moneta Group Investment Advisors LLC now owns 23,457 shares of the investment management company’s stock valued at $104,000 after buying an additional 23,157 shares in the last quarter. Zions Bancorporation bought a new position in Goldman Sachs Group during the second quarter valued at about $109,000. Palo Capital Inc. bought a new position in Goldman Sachs Group during the third quarter valued at about $109,000. Asset Advisors Investment Management LLC bought a new position in Goldman Sachs Group during the third quarter valued at about $115,000. Finally, Canton Hathaway LLC bought a new position in Goldman Sachs Group during the third quarter valued at about $174,000. Institutional investors own 70.94% of the company’s stock.

About Goldman Sachs Group

The Goldman Sachs Group, Inc operates as an investment banking, securities, and investment management company worldwide. It operates through four segments: Investment Banking, Institutional Client Services, Investing & Lending, and Investment Management. The Investment Banking segment provides financial advisory services, including strategic advisory assignments related to mergers and acquisitions, divestitures, corporate defense activities, restructurings, spin-offs, and risk management; and underwriting services, such as debt and equity underwriting of public offerings and private placements of various securities and other financial instruments, as well as derivative transactions with public and private sector clients.

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Analyst Recommendations for Goldman Sachs Group (NYSE:GS)

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