The Goldman Sachs Group (NYSE:GS) Stock Rating Raised to “Buy” at Wall Street Zen

Wall Street Zen upgraded shares of The Goldman Sachs Group (NYSE:GS) from a hold rating to a buy rating in a report published on Saturday morning,Wall Street Zen reports.

A number of other research firms also recently issued reports on GS. Evercore reiterated an “outperform” rating on shares of The Goldman Sachs Group in a research report on Monday, July 6th. Oppenheimer lowered The Goldman Sachs Group from a “market perform” rating to an “underperform” rating in a research note on Tuesday, June 30th. Citigroup restated a “market perform” rating on shares of The Goldman Sachs Group in a report on Wednesday, October 14th. Barclays raised their price objective on The Goldman Sachs Group from $1,048.00 to $1,245.00 and gave the company an “overweight” rating in a research note on Wednesday, July 15th. Finally, Royal Bank Of Canada reduced their price objective on The Goldman Sachs Group from $1,220.00 to $1,010.00 and set a “sector perform” rating for the company in a report on Wednesday, October 14th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, thirteen have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, The Goldman Sachs Group presently has a consensus rating of “Hold” and a consensus price target of $1,052.48.

The Goldman Sachs Group Stock Down 1.7%

Shares of NYSE GS opened at $876.07 on Friday. The company has a quick ratio of 0.63, a current ratio of 1.10 and a debt-to-equity ratio of 2.82. The Goldman Sachs Group has a 52 week low of $754.00 and a 52 week high of $1,153.99. The firm has a 50-day moving average price of $959.69 and a 200 day moving average price of $990.65. The stock has a market capitalization of $255.08 billion, a price-to-earnings ratio of 12.60, a price-to-earnings-growth ratio of 0.83 and a beta of 1.29.

The Goldman Sachs Group (NYSE:GS) last released its quarterly earnings data on Tuesday, October 13th. The investment management company reported $17.01 EPS for the quarter, topping analysts’ consensus estimates of $12.86 by $4.15. The Goldman Sachs Group had a net margin of 15.77% and a return on equity of 19.55%. The firm had revenue of $18.68 billion for the quarter, compared to the consensus estimate of $16.83 billion. During the same quarter in the previous year, the firm earned $12.25 earnings per share. The firm’s revenue was up 23.0% on a year-over-year basis. Equities research analysts anticipate that The Goldman Sachs Group will post 70.89 EPS for the current fiscal year.

The Goldman Sachs Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 30th. Investors of record on Wednesday, December 2nd will be paid a dividend of $5.00 per share. The ex-dividend date of this dividend is Wednesday, December 2nd. This represents a $20.00 dividend on an annualized basis and a dividend yield of 2.3%. The Goldman Sachs Group’s dividend payout ratio (DPR) is presently 28.76%.

Institutional Trading of The Goldman Sachs Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Turim 21 Investimentos Ltda. acquired a new stake in shares of The Goldman Sachs Group during the 1st quarter worth about $25,000. Strive Financial Group LLC grew its holdings in shares of The Goldman Sachs Group by 316.7% during the second quarter. Strive Financial Group LLC now owns 25 shares of the investment management company’s stock worth $25,000 after buying an additional 19 shares in the last quarter. BOK Financial Private Wealth Inc. raised its position in shares of The Goldman Sachs Group by 188.9% in the second quarter. BOK Financial Private Wealth Inc. now owns 26 shares of the investment management company’s stock valued at $26,000 after buying an additional 17 shares during the last quarter. Cherry Tree Wealth Management LLC raised its position in shares of The Goldman Sachs Group by 100.0% in the third quarter. Cherry Tree Wealth Management LLC now owns 30 shares of the investment management company’s stock valued at $27,000 after buying an additional 15 shares during the last quarter. Finally, Clearstead Trust LLC acquired a new position in shares of The Goldman Sachs Group in the second quarter valued at approximately $33,000. Hedge funds and other institutional investors own 71.21% of the company’s stock.

Trending Headlines about The Goldman Sachs Group

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

• Positive Sentiment: Freedom Broker upgraded GS from “Hold” to “Buy” and set a $1,100 price target, implying approximately 25.6% upside from the referenced share price. However, the target was reduced from $1,200, which somewhat tempers the bullish signal. Freedom Broker upgrades Goldman Sachs to Buy
• Positive Sentiment: Goldman Sachs reported particularly strong equities performance in the third quarter, with net revenue rising 72% year over year to $6.44 billion. Robust client activity, financing demand and derivatives contributed to the result, supporting optimism about earnings momentum. Goldman Sachs equities revenue growth
• Positive Sentiment: Zacks upgraded Goldman Sachs to a Rank #2 (“Buy”), citing improving expectations for the company’s earnings prospects. Zacks upgrades Goldman Sachs to Buy

The Goldman Sachs Group Company Profile

The Goldman Sachs Group, Inc is a global financial services company that provides investment banking, securities, asset management and wealth management services to corporations, financial institutions, governments and individual investors. Its investment banking activities include advising on mergers and acquisitions, public and private offerings, restructurings and other strategic transactions.

Through its global markets businesses, Goldman Sachs helps clients buy and sell securities and other financial instruments and provides financing, risk management and market-making services.