The Goldman Sachs Group (NYSE:GS) Stock Price Expected to Rise, Royal Bank Of Canada Analyst Says

The Goldman Sachs Group (NYSE:GS) had its price target lifted by equities researchers at Royal Bank Of Canada from $843.00 to $900.00 in a report released on Friday,MarketScreener reports. The firm currently has a “sector perform” rating on the investment management company’s stock. Royal Bank Of Canada’s price objective suggests a potential downside of 1.02% from the stock’s previous close.

A number of other equities analysts have also commented on GS. Weiss Ratings reaffirmed a “hold (c)” rating on shares of The Goldman Sachs Group in a research note on Monday, December 1st. Daiwa Capital Markets lifted their price target on The Goldman Sachs Group from $756.00 to $810.00 and gave the company a “neutral” rating in a report on Wednesday, October 8th. Dbs Bank increased their price objective on The Goldman Sachs Group from $800.00 to $890.00 and gave the stock a “buy” rating in a research note on Thursday, November 13th. Keefe, Bruyette & Woods raised their price objective on The Goldman Sachs Group from $850.00 to $870.00 and gave the stock a “market perform” rating in a research report on Friday, October 17th. Finally, BMO Capital Markets initiated coverage on The Goldman Sachs Group in a report on Friday, October 3rd. They issued a “market perform” rating and a $785.00 target price on the stock. Four investment analysts have rated the stock with a Buy rating, seventeen have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, The Goldman Sachs Group has a consensus rating of “Hold” and an average price target of $787.06.

The Goldman Sachs Group Trading Down 0.2%

Shares of NYSE:GS traded down $1.73 during midday trading on Friday, reaching $909.30. The company had a trading volume of 272,541 shares, compared to its average volume of 2,339,146. The company has a fifty day simple moving average of $798.05 and a two-hundred day simple moving average of $741.22. The firm has a market cap of $272.73 billion, a price-to-earnings ratio of 18.47, a price-to-earnings-growth ratio of 1.17 and a beta of 1.36. The Goldman Sachs Group has a 1-year low of $439.38 and a 1-year high of $919.10. The company has a debt-to-equity ratio of 2.53, a quick ratio of 0.65 and a current ratio of 0.65.

The Goldman Sachs Group (NYSE:GS) last posted its quarterly earnings data on Tuesday, October 14th. The investment management company reported $12.25 EPS for the quarter, beating analysts’ consensus estimates of $10.27 by $1.98. The company had revenue of $15.18 billion during the quarter, compared to analyst estimates of $13.68 billion. The Goldman Sachs Group had a net margin of 13.18% and a return on equity of 15.29%. The business’s quarterly revenue was up 19.5% on a year-over-year basis. During the same period in the prior year, the firm earned $8.40 earnings per share. Research analysts predict that The Goldman Sachs Group will post 47.12 earnings per share for the current year.

Institutional Trading of The Goldman Sachs Group

Several large investors have recently added to or reduced their stakes in GS. Gilliland Jeter Wealth Management LLC lifted its position in shares of The Goldman Sachs Group by 3.5% in the third quarter. Gilliland Jeter Wealth Management LLC now owns 388 shares of the investment management company’s stock worth $309,000 after buying an additional 13 shares during the last quarter. EWA LLC boosted its position in The Goldman Sachs Group by 2.2% during the third quarter. EWA LLC now owns 612 shares of the investment management company’s stock worth $488,000 after purchasing an additional 13 shares during the period. Carrera Capital Advisors grew its holdings in The Goldman Sachs Group by 3.5% during the third quarter. Carrera Capital Advisors now owns 385 shares of the investment management company’s stock valued at $306,000 after purchasing an additional 13 shares during the last quarter. Centerpoint Advisors LLC raised its position in shares of The Goldman Sachs Group by 1.5% in the third quarter. Centerpoint Advisors LLC now owns 863 shares of the investment management company’s stock valued at $687,000 after purchasing an additional 13 shares during the period. Finally, Cassaday & Co Wealth Management LLC lifted its stake in shares of The Goldman Sachs Group by 0.9% in the third quarter. Cassaday & Co Wealth Management LLC now owns 1,488 shares of the investment management company’s stock worth $1,185,000 after buying an additional 13 shares during the last quarter. 71.21% of the stock is owned by institutional investors.

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.