The Goldman Sachs Group (NYSE:GS) Posts Quarterly Earnings Results, Beats Estimates By $1.09 EPS

The Goldman Sachs Group (NYSE:GS) posted its earnings results on Wednesday. The investment management company reported $10.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $9.82 by $1.09, Zacks reports. The firm had revenue of $14.58 billion for the quarter, compared to analysts’ expectations of $13.53 billion. The Goldman Sachs Group had a return on equity of 13.84% and a net margin of 12.37%. The business’s revenue was up 14.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $8.62 earnings per share.

The Goldman Sachs Group Price Performance

Shares of GS traded down $2.27 during mid-day trading on Friday, hitting $703.57. 385,652 shares of the stock were exchanged, compared to its average volume of 2,362,862. The company has a market cap of $215.88 billion, a PE ratio of 15.51, a price-to-earnings-growth ratio of 0.97 and a beta of 1.35. The Goldman Sachs Group has a 52-week low of $437.37 and a 52-week high of $726.00. The firm has a 50-day moving average of $644.19 and a two-hundred day moving average of $599.95. The company has a debt-to-equity ratio of 2.26, a quick ratio of 0.68 and a current ratio of 1.12.

The Goldman Sachs Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Friday, August 29th will be issued a dividend of $4.00 per share. This is a positive change from The Goldman Sachs Group’s previous quarterly dividend of $3.00. This represents a $16.00 dividend on an annualized basis and a yield of 2.27%. The ex-dividend date of this dividend is Friday, August 29th. The Goldman Sachs Group’s dividend payout ratio (DPR) is 27.85%.

Institutional Trading of The Goldman Sachs Group

A hedge fund recently raised its stake in The Goldman Sachs Group stock. Brighton Jones LLC lifted its holdings in The Goldman Sachs Group, Inc. (NYSE:GS) by 17.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,474 shares of the investment management company’s stock after buying an additional 508 shares during the quarter. Brighton Jones LLC’s holdings in The Goldman Sachs Group were worth $1,989,000 at the end of the most recent quarter. Institutional investors and hedge funds own 71.21% of the company’s stock.

Analysts Set New Price Targets

GS has been the subject of a number of research analyst reports. Citizens Jmp restated a “market perform” rating on shares of The Goldman Sachs Group in a research note on Monday. Barclays decreased their price objective on shares of The Goldman Sachs Group from $760.00 to $720.00 and set an “overweight” rating for the company in a report on Tuesday, April 15th. Hsbc Global Res lowered shares of The Goldman Sachs Group from a “hold” rating to a “moderate sell” rating in a report on Tuesday, July 8th. Morgan Stanley raised their target price on shares of The Goldman Sachs Group from $680.00 to $715.00 and gave the stock an “equal weight” rating in a report on Thursday. Finally, HSBC restated a “reduce” rating and issued a $627.00 target price (up previously from $558.00) on shares of The Goldman Sachs Group in a report on Tuesday, July 8th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, The Goldman Sachs Group currently has a consensus rating of “Hold” and an average price target of $649.29.

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.