Bank of America Corp Trims Goldman Sachs Group Inc (GS) Target Price to $265.00

Goldman Sachs Group Inc (NYSE:GS) had its price target lowered by stock analysts at Bank of America Corp from $275.00 to $265.00 in a report released on Wednesday. The firm currently has a “buy” rating on the investment management company’s stock. Bank of America Corp’s price objective suggests a potential upside of 21.53% from the company’s current price.

A number of other brokerages also recently issued reports on GS. Compass Point assumed coverage on Goldman Sachs Group in a report on Wednesday, February 22nd. They issued a “neutral” rating and a $250.00 price target for the company. Berenberg Bank downgraded Goldman Sachs Group from a “hold” rating to a “sell” rating and boosted their price target for the company from $140.00 to $190.00 in a report on Friday, February 24th. They noted that the move was a valuation call. Vetr downgraded Goldman Sachs Group from a “sell” rating to a “strong sell” rating and set a $215.99 price target for the company. in a report on Tuesday, February 14th. Macquarie reissued an “outperform” rating on shares of Goldman Sachs Group in a report on Thursday, February 16th. Finally, JPMorgan Chase & Co. reissued a “buy” rating on shares of Goldman Sachs Group in a report on Tuesday, March 14th. Three equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and thirteen have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $228.94.

Analyst Recommendations for Goldman Sachs Group (NYSE:GS)

Shares of Goldman Sachs Group (NYSE:GS) traded up 1.85% during trading on Wednesday, reaching $218.06. 5,164,665 shares of the company were exchanged. The firm has a market capitalization of $90.46 billion, a P/E ratio of 13.39 and a beta of 1.50. The firm’s 50 day moving average is $235.94 and its 200 day moving average is $222.39. Goldman Sachs Group has a 1-year low of $138.20 and a 1-year high of $255.15. Goldman Sachs Group also saw some unusual options trading on Tuesday. Investors purchased 8,747 call options on the company. This is an increase of 212% compared to the typical volume of 2,801 call options.

Goldman Sachs Group (NYSE:GS) last announced its quarterly earnings results on Tuesday, April 18th. The investment management company reported $5.15 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $5.31 by $0.16. Goldman Sachs Group had a net margin of 24.17% and a return on equity of 9.78%. The company earned $8.03 billion during the quarter, compared to analyst estimates of $8.33 billion. During the same period in the previous year, the firm posted $2.68 earnings per share. The company’s revenue was up 26.6% compared to the same quarter last year. On average, equities analysts anticipate that Goldman Sachs Group will post $19.30 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 29th. Stockholders of record on Thursday, June 1st will be issued a $0.75 dividend. The ex-dividend date of this dividend is Tuesday, May 30th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.38%. This is an increase from Goldman Sachs Group’s previous quarterly dividend of $0.65. Goldman Sachs Group’s dividend payout ratio is presently 15.89%.

COPYRIGHT VIOLATION NOTICE: “Bank of America Corp Trims Goldman Sachs Group Inc (GS) Target Price to $265.00” was first posted by WKRB News and is the property of of WKRB News. If you are viewing this piece of content on another domain, it was stolen and reposted in violation of U.S. & international copyright & trademark law. The original version of this piece of content can be accessed at https://www.wkrb13.com/markets/2064698/goldman-sachs-groups-gs-buy-rating-reaffirmed-at-bank-of-america-corp.html.

In other news, EVP Alan M. Cohen sold 5,599 shares of the stock in a transaction dated Thursday, February 16th. The stock was sold at an average price of $250.16, for a total value of $1,400,645.84. Following the transaction, the executive vice president now owns 77,135 shares in the company, valued at approximately $19,296,091.60. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Vice Chairman Pablo J. Salame sold 16,185 shares of the stock in a transaction dated Tuesday, February 7th. The shares were sold at an average price of $240.19, for a total value of $3,887,475.15. Following the completion of the transaction, the insider now owns 146,133 shares in the company, valued at approximately $35,099,685.27. The disclosure for this sale can be found here. In the last quarter, insiders sold 91,990 shares of company stock worth $22,362,560. Company insiders own 2.61% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GS. State of Alaska Department of Revenue purchased a new position in Goldman Sachs Group during the first quarter worth about $399,000. Rothschild Investment Corp IL increased its position in Goldman Sachs Group by 9.4% in the first quarter. Rothschild Investment Corp IL now owns 36,413 shares of the investment management company’s stock worth $8,365,000 after buying an additional 3,143 shares in the last quarter. Oakbrook Investments LLC increased its position in Goldman Sachs Group by 5.1% in the first quarter. Oakbrook Investments LLC now owns 26,750 shares of the investment management company’s stock worth $6,145,000 after buying an additional 1,300 shares in the last quarter. Beech Hill Advisors Inc. purchased a new position in Goldman Sachs Group during the first quarter worth about $428,000. Finally, Bollard Group LLC increased its position in Goldman Sachs Group by 5.1% in the first quarter. Bollard Group LLC now owns 14,629 shares of the investment management company’s stock worth $3,361,000 after buying an additional 712 shares in the last quarter. Hedge funds and other institutional investors own 72.77% of the company’s stock.

Goldman Sachs Group Company Profile

The Goldman Sachs Group, Inc is an investment banking, securities and investment management company that provides a range of financial services to corporations, financial institutions, governments and individuals. The Company operates in four business segments: Investment Banking, Institutional Client Services, Investing & Lending, and Investment Management.

5 Day Chart for NYSE:GS

This story was originally published by WKRB News (https://www.wkrb13.com) and is the sole property of WKRB News. If you are reading this article on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. You can view the original version of this story at https://www.wkrb13.com/markets/2064698/goldman-sachs-groups-gs-buy-rating-reaffirmed-at-bank-of-america-corp.html

Receive News & Ratings for Goldman Sachs Group Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Goldman Sachs Group Inc and related companies with MarketBeat.com's FREE daily email newsletter.

 


Leave a Reply

 
© 2006-2017 WKRB News.