Deutsche Bank AG Reaffirms “Buy” Rating for Goldman Sachs Group, Inc. (The) (NYSE:GS)

Goldman Sachs Group, Inc. (The) (NYSE:GS)‘s stock had its “buy” rating reissued by equities research analysts at Deutsche Bank AG in a research report issued on Monday, July 3rd.

Several other research firms have also recently commented on GS. Royal Bank Of Canada dropped their target price on shares of Goldman Sachs Group, Inc. (The) to $250.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 18th. Credit Suisse Group reissued a “buy” rating on shares of Goldman Sachs Group, Inc. (The) in a research report on Wednesday, April 19th. Keefe, Bruyette & Woods restated an “outperform” rating on shares of Goldman Sachs Group, Inc. (The) in a research note on Monday, June 12th. Rafferty Capital Markets lowered shares of Goldman Sachs Group, Inc. (The) from a “buy” rating to a “hold” rating and decreased their price target for the stock from $288.00 to $221.00 in a research note on Tuesday, April 18th. Finally, Vetr lowered shares of Goldman Sachs Group, Inc. (The) from a “sell” rating to a “strong sell” rating and set a $191.87 price target for the company. in a research note on Monday, April 24th. Three analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $235.25.

Shares of Goldman Sachs Group, Inc. (NYSE:GS) traded up 0.96% during mid-day trading on Monday, hitting $223.61. The stock had a trading volume of 2,483,233 shares. The firm’s 50-day moving average price is $223.79 and its 200 day moving average price is $230.40. Goldman Sachs Group, Inc. has a 12-month low of $155.37 and a 12-month high of $255.15. The stock has a market cap of $90.09 billion, a price-to-earnings ratio of 11.72 and a beta of 1.42.

Goldman Sachs Group, Inc. (The) (NYSE:GS) last posted its earnings results on Tuesday, July 18th. The investment management company reported $3.95 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $3.39 by $0.56. Goldman Sachs Group, Inc. (The) had a net margin of 26.44% and a return on equity of 11.25%. The firm had revenue of $7.89 billion for the quarter, compared to analysts’ expectations of $7.47 billion. During the same quarter last year, the firm earned $3.72 EPS. The company’s quarterly revenue was down .6% compared to the same quarter last year. Equities analysts forecast that Goldman Sachs Group, Inc. will post $18.21 EPS for the current fiscal year.

Goldman Sachs Group, Inc. (The) declared that its Board of Directors has initiated a stock repurchase program on Tuesday, April 18th that permits the company to repurchase 50,000,000 outstanding shares. This repurchase authorization permits the investment management company to reacquire shares of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board believes its stock is undervalued.

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Hedge funds and other institutional investors have recently modified their holdings of the company. Foundation Asset Management LP purchased a new position in shares of Goldman Sachs Group, Inc. (The) during the fourth quarter valued at about $5,986,000. Gardner Lewis Asset Management L P increased its position in shares of Goldman Sachs Group, Inc. (The) by 6.8% in the fourth quarter. Gardner Lewis Asset Management L P now owns 65,281 shares of the investment management company’s stock valued at $15,632,000 after buying an additional 4,171 shares in the last quarter. Envestnet Asset Management Inc. increased its position in shares of Goldman Sachs Group, Inc. (The) by 40.0% in the fourth quarter. Envestnet Asset Management Inc. now owns 39,858 shares of the investment management company’s stock valued at $9,543,000 after buying an additional 11,389 shares in the last quarter. Tyers Asset Management LLC bought a new position in shares of Goldman Sachs Group, Inc. (The) during the fourth quarter worth $1,033,000. Finally, Menta Capital LLC bought a new position in shares of Goldman Sachs Group, Inc. (The) during the fourth quarter worth $1,724,000. Hedge funds and other institutional investors own 74.20% of the company’s stock.

About Goldman Sachs Group, Inc. (The)

The Goldman Sachs Group, Inc is an investment banking, securities and investment management company that provides a range of financial services to corporations, financial institutions, governments and individuals. The Company operates in four business segments: Investment Banking, Institutional Client Services, Investing & Lending, and Investment Management.

Analyst Recommendations for Goldman Sachs Group, Inc. (The) (NYSE:GS)

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