Goldman Sachs Group (NYSE:GS) Given “Buy” Rating at Wells Fargo & Co

Wells Fargo & Co reiterated their buy rating on shares of Goldman Sachs Group (NYSE:GS) in a research note published on Tuesday morning, TipRanks reports. Wells Fargo & Co currently has a $255.00 target price on the investment management company’s stock.

Several other brokerages have also commented on GS. Odeon Capital Group upgraded shares of Goldman Sachs Group from a hold rating to a buy rating and set a $207.00 price objective for the company in a report on Tuesday, May 26th. JPMorgan Chase & Co. restated a buy rating and issued a $215.00 price objective on shares of Goldman Sachs Group in a report on Tuesday, June 16th. Morgan Stanley raised their price objective on shares of Goldman Sachs Group from $164.00 to $177.00 and gave the stock an equal weight rating in a report on Thursday, June 25th. BMO Capital Markets upgraded shares of Goldman Sachs Group from a market perform rating to an outperform rating and raised their price objective for the stock from $205.00 to $276.00 in a report on Thursday, May 14th. Finally, Cfra upgraded shares of Goldman Sachs Group from a sell rating to a hold rating and lowered their price objective for the stock from $220.00 to $210.00 in a report on Wednesday, April 15th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and fifteen have issued a buy rating to the company. The company currently has an average rating of Buy and an average price target of $226.43.

NYSE GS opened at $197.62 on Tuesday. The company has a debt-to-equity ratio of 2.78, a current ratio of 0.79 and a quick ratio of 0.79. The stock has a market capitalization of $66.53 billion, a PE ratio of 10.74, a PEG ratio of 5.53 and a beta of 1.45. Goldman Sachs Group has a 1 year low of $130.85 and a 1 year high of $250.46. The business’s 50-day moving average is $196.00 and its 200 day moving average is $203.56.

Goldman Sachs Group (NYSE:GS) last posted its earnings results on Wednesday, April 15th. The investment management company reported $3.11 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.83 by $0.28. The company had revenue of $8.74 billion for the quarter, compared to analysts’ expectations of $7.92 billion. Goldman Sachs Group had a return on equity of 9.26% and a net margin of 14.04%. Goldman Sachs Group’s quarterly revenue was down .7% on a year-over-year basis. During the same period last year, the firm earned $5.71 earnings per share. As a group, equities research analysts anticipate that Goldman Sachs Group will post 14.3 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Monday, June 29th. Shareholders of record on Monday, June 1st were given a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a yield of 2.53%. The ex-dividend date of this dividend was Friday, May 29th. Goldman Sachs Group’s dividend payout ratio (DPR) is presently 23.78%.

A number of large investors have recently bought and sold shares of GS. Permanens Capital L.P. bought a new stake in shares of Goldman Sachs Group during the 4th quarter valued at $25,000. Virtus ETF Advisers LLC bought a new stake in shares of Goldman Sachs Group during the 4th quarter valued at $25,000. Harvest Fund Management Co. Ltd bought a new stake in shares of Goldman Sachs Group during the 1st quarter valued at $26,000. Allworth Financial LP grew its position in shares of Goldman Sachs Group by 68.5% during the 1st quarter. Allworth Financial LP now owns 187 shares of the investment management company’s stock valued at $29,000 after acquiring an additional 76 shares during the period. Finally, Solstein Capital LLC bought a new stake in shares of Goldman Sachs Group during the 4th quarter valued at $32,000. 68.07% of the stock is owned by institutional investors and hedge funds.

About Goldman Sachs Group

The Goldman Sachs Group, Inc operates as an investment banking, securities, and investment management company worldwide. It operates in 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.

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Analyst Recommendations for Goldman Sachs Group (NYSE:GS)

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