The Goldman Sachs Group (NYSE:GS) Coverage Initiated by Analysts at TD Cowen

Equities researchers at TD Cowen assumed coverage on shares of The Goldman Sachs Group (NYSE:GS) in a research report issued to clients and investors on Thursday, Benzinga reports. The firm set a “buy” rating and a $1,050.00 price target on the investment management company’s stock. TD Cowen’s price objective suggests a potential upside of 18.33% from the company’s previous close.

Several other equities research analysts have also weighed in on GS. Barclays raised their target price on The Goldman Sachs Group from $1,048.00 to $1,245.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 15th. HSBC increased their price target on shares of The Goldman Sachs Group from $995.00 to $1,007.00 and gave the company a “hold” rating in a research note on Monday, September 28th. UBS Group cut their price objective on shares of The Goldman Sachs Group from $1,150.00 to $1,010.00 and set a “neutral” rating on the stock in a report on Monday. Citigroup reduced their price objective on shares of The Goldman Sachs Group from $1,200.00 to $1,050.00 and set a “neutral” rating for the company in a research report on Wednesday, September 23rd. Finally, BMO Capital Markets lowered their target price on shares of The Goldman Sachs Group from $972.00 to $970.00 and set a “market perform” rating on the stock in a research report on Tuesday. Eleven analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $1,055.09.

The Goldman Sachs Group Stock Performance

Shares of The Goldman Sachs Group stock opened at $887.36 on Thursday. The company has a market cap of $258.37 billion, a price-to-earnings ratio of 13.70, a PEG ratio of 0.98 and a beta of 1.29. The business’s 50 day moving average price is $995.67 and its 200 day moving average price is $987.40. The company has a debt-to-equity ratio of 3.17, a quick ratio of 0.63 and a current ratio of 0.63. The Goldman Sachs Group has a one year low of $740.01 and a one year high of $1,153.99.

The Goldman Sachs Group (NYSE:GS) last posted its quarterly earnings results on Tuesday, July 14th. The investment management company reported $20.98 earnings per share for the quarter, beating analysts’ consensus estimates of $14.47 by $6.51. The company had revenue of $20.34 billion for the quarter, compared to analysts’ expectations of $16.22 billion. The Goldman Sachs Group had a return on equity of 19.16% and a net margin of 15.53%.The Goldman Sachs Group’s quarterly revenue was up 39.4% on a year-over-year basis. During the same period last year, the firm earned $10.91 earnings per share. On average, research analysts predict that The Goldman Sachs Group will post 67.92 EPS for the current year.

Institutional Investors Weigh In On The Goldman Sachs Group

Several large investors have recently modified their holdings of the stock. Orange County Employees Retirement System purchased a new position in shares of The Goldman Sachs Group during the 2nd quarter worth approximately $69,537,544,000. BlackRock Inc. purchased a new stake in The Goldman Sachs Group during the second quarter worth $24,172,123,000. State Street Corp increased its position in shares of The Goldman Sachs Group by 2.1% in the fourth quarter. State Street Corp now owns 19,564,783 shares of the investment management company’s stock valued at $17,197,444,000 after buying an additional 394,198 shares in the last quarter. Bank of America Corp DE acquired a new position in shares of The Goldman Sachs Group during the 2nd quarter worth $6,756,772,000. Finally, Bank of New York Mellon Corp purchased a new stake in shares of The Goldman Sachs Group in the 2nd quarter worth about $2,560,028,000. Hedge funds and other institutional investors own 71.21% of the company’s stock.

Key The Goldman Sachs Group News

Here are the key news stories impacting The Goldman Sachs Group this week:

• Positive Sentiment: Goldman Sachs’ forecast for a 27% increase in S&P 500 profits, supported by artificial-intelligence investment, could benefit the firm’s trading, investment-banking and asset-management businesses if stronger corporate activity follows. Goldman Sachs forecasts 27% jump in S&P 500 profits
• Positive Sentiment: A high-profile Goldman banker, George Dunlevie, is reportedly set to co-lead the firm’s technology-banking business, potentially strengthening its ability to win lucrative technology mandates. Star Goldman Sachs Banker Dunlevie to Co-Lead Tech Banking
• Positive Sentiment: Despite the selloff, one analysis characterizes GS as a value opportunity, while BMO’s $970 price target remains above the recent share price, although BMO maintains a “market perform” rating. Goldman Sachs Selloff Makes Stock a Value Play
• Neutral Sentiment: Goldman disclosed that its own systems were not affected by the EY data breach and that client assets remain safe, but its wealth-management operations were among the affected parties. The incident could create reputational and compliance scrutiny without indicating a direct financial loss so far. Goldman Sachs client data exposed in EY data breach
• Negative Sentiment: Citi has reportedly overtaken Goldman in global IPO underwriting rankings after winning several major listings. Losing leadership in equity capital markets could pressure future underwriting fees and weaken investor confidence in Goldman’s franchise. Is Goldman Sachs Losing Its Grip on Global IPO Underwriting?
• Negative Sentiment: Goldman is not yet ready to raise its 14%–16% through-cycle return-on-equity target, suggesting management sees limited near-term room for profitability upgrades. UBS and BMO have also lowered expectations or price targets, adding pressure to the shares. Goldman Sachs ROE target analysis
• Negative Sentiment: Analysts question whether Goldman has the combination of factors needed for an earnings beat in its upcoming report, increasing uncertainty ahead of results. Broader warnings about rising U.S. debt and potentially weaker Treasury demand also point to a more challenging macroeconomic backdrop for financial markets. Goldman Sachs Earnings Expected to Grow

About The Goldman Sachs Group

The Goldman Sachs Group, Inc is a global financial services company headquartered in New York City. Founded in 1869, the firm provides services to corporations, financial institutions, governments, individuals and other clients through its investment banking, markets, asset management and wealth management businesses.

Goldman Sachs advises clients on mergers and acquisitions, financing and other strategic transactions, and facilitates trading in equities, fixed income, currencies and commodities.