Goldman Sachs Group (GS) Posts Earnings Results, Beats Estimates By $0.90 EPS

Goldman Sachs Group (NYSE:GS) posted its quarterly earnings data on Tuesday. The investment management company reported $6.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.38 by $0.90, RTT News reports. The company had revenue of $8.65 billion for the quarter, compared to the consensus estimate of $8.43 billion. Goldman Sachs Group had a net margin of 15.72% and a return on equity of 13.58%. The firm’s revenue was up 3.8% compared to the same quarter last year. During the same quarter last year, the firm posted $5.02 earnings per share.

Shares of NYSE:GS opened at $221.70 on Wednesday. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 3.02. Goldman Sachs Group has a 1-year low of $210.95 and a 1-year high of $275.31. The company has a market cap of $84.66 billion, a price-to-earnings ratio of 11.22, a PEG ratio of 0.72 and a beta of 1.28.

A number of equities analysts recently issued reports on the stock. JPMorgan Chase & Co. set a $285.00 price objective on shares of Goldman Sachs Group and gave the stock a “buy” rating in a report on Tuesday. Wolfe Research assumed coverage on shares of Goldman Sachs Group in a report on Tuesday, September 25th. They issued an “outperform” rating on the stock. Wells Fargo & Co reaffirmed a “buy” rating on shares of Goldman Sachs Group in a report on Thursday, September 20th. Zacks Investment Research downgraded shares of Goldman Sachs Group from a “buy” rating to a “hold” rating in a report on Wednesday, September 12th. Finally, Societe Generale raised shares of Goldman Sachs Group from a “sell” rating to a “hold” rating in a report on Wednesday, July 18th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and ten have assigned a buy rating to the company’s stock. Goldman Sachs Group has a consensus rating of “Hold” and a consensus target price of $275.08.

In other Goldman Sachs Group news, insider David M. Solomon sold 8,488 shares of Goldman Sachs Group stock in a transaction that occurred on Wednesday, August 1st. The shares were sold at an average price of $237.92, for a total transaction of $2,019,464.96. The sale was disclosed in a filing with the SEC, which is accessible through this link. 1.71% of the stock is owned by insiders.

About Goldman Sachs Group

The Goldman Sachs Group, Inc operates as an investment banking, securities, and investment management company worldwide. It operates through four segments: Investment Banking, Institutional Client Services, Investing & Lending, and Investment Management. The Investment Banking segment provides financial advisory services, including strategic advisory assignments related to mergers and acquisitions, divestitures, corporate defense activities, restructurings, spin-offs, and risk management; and underwriting services, such as debt and equity underwriting of public offerings and private placements of various securities and other financial instruments, as well as derivative transactions with public and private sector clients.

Recommended Story: How is inflation measured?

Earnings History for Goldman Sachs Group (NYSE:GS)

Receive News & Ratings for Goldman Sachs Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Goldman Sachs Group and related companies with's FREE daily email newsletter.

Leave a Reply