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

The Goldman Sachs Group (NYSE:GS) issued its quarterly earnings results on Wednesday. The investment management company reported $11.95 earnings per share for the quarter, beating the consensus estimate of $8.21 by $3.74, Briefing.com reports. The firm had revenue of $13.87 billion during the quarter, compared to the consensus estimate of $12.36 billion. The Goldman Sachs Group had a return on equity of 11.39% and a net margin of 9.89%. The company’s revenue was up 22.5% on a year-over-year basis. During the same period last year, the company earned $5.48 earnings per share.

The Goldman Sachs Group Stock Up 1.5 %

NYSE GS opened at $571.46 on Wednesday. The Goldman Sachs Group has a 12 month low of $372.07 and a 12 month high of $612.73. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 2.32. The stock has a market cap of $179.39 billion, a PE ratio of 16.77, a P/E/G ratio of 0.85 and a beta of 1.38. The stock’s 50 day moving average is $585.67 and its 200 day moving average is $527.58.

Insider Buying and Selling at The Goldman Sachs Group

In related news, insider Brian J. Lee sold 2,000 shares of the business’s stock in a transaction dated Thursday, October 17th. The stock was sold at an average price of $530.90, for a total value of $1,061,800.00. Following the sale, the insider now directly owns 10,095 shares in the company, valued at approximately $5,359,435.50. The trade was a 16.54 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO David M. Solomon sold 6,550 shares of the business’s stock in a transaction on Friday, November 29th. The stock was sold at an average price of $610.91, for a total transaction of $4,001,460.50. Following the completion of the sale, the chief executive officer now owns 117,883 shares in the company, valued at $72,015,903.53. This represents a 5.26 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 22,940 shares of company stock valued at $13,717,979 in the last three months. 0.54% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on GS shares. JPMorgan Chase & Co. boosted their price objective on shares of The Goldman Sachs Group from $520.00 to $550.00 and gave the stock an “overweight” rating in a report on Friday, December 6th. Citigroup increased their price objective on The Goldman Sachs Group from $485.00 to $585.00 and gave the company a “neutral” rating in a research report on Thursday, November 21st. Wolfe Research raised The Goldman Sachs Group to a “hold” rating in a research report on Wednesday, September 18th. Keefe, Bruyette & Woods upped their target price on shares of The Goldman Sachs Group from $570.00 to $686.00 and gave the company an “outperform” rating in a research note on Tuesday, December 3rd. Finally, Wells Fargo & Company boosted their target price on shares of The Goldman Sachs Group from $600.00 to $680.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Eight analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, The Goldman Sachs Group currently has an average rating of “Moderate Buy” and a consensus target price of $569.31.

About The Goldman Sachs Group

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.