Oppenheimer Boosts Goldman Sachs Group (NYSE:GS) Price Target to $356.00

Goldman Sachs Group (NYSE:GS) had its price objective raised by Oppenheimer from $326.00 to $356.00 in a research note issued to investors on Thursday, The Fly reports. Oppenheimer also issued estimates for Goldman Sachs Group’s Q2 2021 earnings at $4.55 EPS and FY2022 earnings at $27.85 EPS.

Other analysts have also issued research reports about the stock. Wells Fargo & Company reissued a buy rating and issued a $255.00 price target on shares of Goldman Sachs Group in a report on Tuesday, June 30th. JMP Securities increased their price objective on Goldman Sachs Group from $280.00 to $285.00 and gave the company a market outperform rating in a research report on Thursday. Credit Suisse Group upped their price target on Goldman Sachs Group from $240.00 to $255.00 and gave the company an outperform rating in a research note on Thursday, July 16th. JPMorgan Chase & Co. reiterated a buy rating and issued a $230.00 price objective on shares of Goldman Sachs Group in a research report on Thursday, July 16th. Finally, Morgan Stanley boosted their price objective on Goldman Sachs Group from $192.00 to $208.00 and gave the stock an equal weight rating in a report on Monday, October 5th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and fifteen have given a buy rating to the company’s stock. Goldman Sachs Group has a consensus rating of Buy and a consensus target price of $249.29.

Goldman Sachs Group stock opened at $206.21 on Thursday. The business’s fifty day moving average is $202.41 and its two-hundred day moving average is $195.54. The company has a debt-to-equity ratio of 2.82, a quick ratio of 0.76 and a current ratio of 0.76. The firm has a market cap of $70.95 billion, a P/E ratio of 10.94, a P/E/G ratio of 6.54 and a beta of 1.39. Goldman Sachs Group has a 52 week low of $130.85 and a 52 week high of $250.46.

Goldman Sachs Group (NYSE:GS) last issued its quarterly earnings results on Tuesday, October 20th. The investment management company reported $9.68 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $5.57 by $4.11. The business had revenue of $10.70 billion for the quarter, compared to the consensus estimate of $9.40 billion. Goldman Sachs Group had a net margin of 13.40% and a return on equity of 9.07%. The firm’s quarterly revenue was up 28.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $4.79 EPS. On average, equities research analysts predict that Goldman Sachs Group will post 14.17 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 30th. Investors of record on Wednesday, December 2nd will be given a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a dividend yield of 2.42%. The ex-dividend date of this dividend is Tuesday, December 1st. Goldman Sachs Group’s dividend payout ratio is currently 23.78%.

A number of hedge funds have recently bought and sold shares of the business. Howe & Rusling Inc. bought a new stake in shares of Goldman Sachs Group in the second quarter worth about $35,000. Crewe Advisors LLC grew its position in shares of Goldman Sachs Group by 42.8% in the 3rd quarter. Crewe Advisors LLC now owns 207 shares of the investment management company’s stock valued at $42,000 after purchasing an additional 62 shares during the period. Costello Asset Management INC bought a new stake in Goldman Sachs Group during the 2nd quarter worth approximately $44,000. West Oak Capital LLC acquired a new stake in Goldman Sachs Group during the 3rd quarter worth approximately $48,000. Finally, CX Institutional lifted its stake in Goldman Sachs Group by 183.0% in the second quarter. CX Institutional now owns 249 shares of the investment management company’s stock valued at $49,000 after buying an additional 161 shares in the last quarter. Hedge funds and other institutional investors own 68.70% 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 in 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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