The Goldman Sachs Group (NYSE:GS) Announces Quarterly Earnings Results, Beats Estimates By $3.74 EPS

The Goldman Sachs Group (NYSE:GS) released its quarterly earnings data on Wednesday. The investment management company reported $11.95 earnings per share for the quarter, topping analysts’ consensus estimates of $8.21 by $3.74, Briefing.com reports. The firm had revenue of $13.87 billion during the quarter, compared to analyst estimates of $12.36 billion. The Goldman Sachs Group had a return on equity of 11.39% and a net margin of 9.89%. The business’s quarterly revenue was up 22.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $5.48 earnings per share.

The Goldman Sachs Group Stock Performance

NYSE GS opened at $571.46 on Wednesday. The company has a market cap of $179.39 billion, a P/E ratio of 16.77, a P/E/G ratio of 0.85 and a beta of 1.38. The business’s 50 day moving average price is $585.67 and its 200-day moving average price is $527.58. The Goldman Sachs Group has a fifty-two week low of $372.07 and a fifty-two week high of $612.73. The company has a debt-to-equity ratio of 2.32, a quick ratio of 0.67 and a current ratio of 0.67.

Insiders Place Their Bets

In other The Goldman Sachs Group news, insider Brian J. Lee sold 2,000 shares of the firm’s stock in a transaction dated Thursday, October 17th. The shares were sold at an average price of $530.90, for a total value of $1,061,800.00. Following the completion of the sale, the insider now owns 10,095 shares of the company’s stock, valued at $5,359,435.50. This trade represents a 16.54 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Sheara J. Fredman sold 2,974 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $594.51, for a total value of $1,768,072.74. Following the transaction, the chief accounting officer now owns 8,489 shares of the company’s stock, valued at $5,046,795.39. This trade represents a 25.94 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 22,940 shares of company stock valued at $13,717,979 over the last three months. 0.54% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. JMP Securities upped their price target on The Goldman Sachs Group from $525.00 to $550.00 and gave the stock a “market outperform” rating in a research note on Wednesday, October 9th. Oppenheimer dropped their target price on shares of The Goldman Sachs Group from $677.00 to $639.00 and set an “outperform” rating for the company in a research report on Friday, January 3rd. JPMorgan Chase & Co. raised their target price on shares of The Goldman Sachs Group from $520.00 to $550.00 and gave the company an “overweight” rating in a research note on Friday, December 6th. Evercore ISI boosted their price target on shares of The Goldman Sachs Group from $520.00 to $575.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. Finally, Wells Fargo & Company increased their price objective on shares of The Goldman Sachs Group from $600.00 to $680.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Eight investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $569.31.

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.