The Goldman Sachs Group (NYSE:GS) Releases Earnings Results, Beats Estimates By $1.51 EPS

The Goldman Sachs Group (NYSE:GS) announced its quarterly earnings results on Tuesday. The investment management company reported $8.40 earnings per share for the quarter, topping the consensus estimate of $6.89 by $1.51, Briefing.com reports. The company had revenue of $12.70 billion for the quarter, compared to analysts’ expectations of $11.77 billion. The Goldman Sachs Group had a net margin of 9.36% and a return on equity of 10.56%. The Goldman Sachs Group’s quarterly revenue was up 7.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $5.47 earnings per share.

The Goldman Sachs Group Trading Down 0.0 %

GS opened at $522.60 on Wednesday. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 2.20. The stock’s fifty day moving average is $495.39 and its two-hundred day moving average is $467.39. The company has a market capitalization of $168.52 billion, a P/E ratio of 20.41, a PEG ratio of 0.77 and a beta of 1.36. The Goldman Sachs Group has a 52 week low of $289.36 and a 52 week high of $540.51.

The Goldman Sachs Group Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Monday, December 2nd will be issued a $3.00 dividend. This represents a $12.00 dividend on an annualized basis and a dividend yield of 2.30%. The Goldman Sachs Group’s payout ratio is 46.86%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on GS. Wolfe Research raised shares of The Goldman Sachs Group to a “hold” rating in a report on Wednesday, September 18th. Oppenheimer lifted their target price on The Goldman Sachs Group from $548.00 to $577.00 and gave the stock an “outperform” rating in a report on Wednesday, October 2nd. Seaport Res Ptn downgraded The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 2nd. Evercore ISI raised their price target on The Goldman Sachs Group from $475.00 to $520.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 16th. Finally, Wells Fargo & Company boosted their price objective on shares of The Goldman Sachs Group from $504.00 to $550.00 and gave the company an “overweight” rating in a research report on Tuesday, July 16th. Five equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $504.75.

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.