Citigroup Increases Goldman Sachs Group (NYSE:GS) Price Target to $300.00

Goldman Sachs Group (NYSE:GS) had its target price lifted by Citigroup from $285.00 to $300.00 in a research note issued to investors on Thursday morning, The Fly reports. The firm currently has a buy rating on the investment management company’s stock.

Several other analysts have also issued reports on the stock. Credit Suisse Group increased their price target on shares of Goldman Sachs Group from $240.00 to $255.00 and gave the stock an outperform rating in a research report on Thursday, July 16th. DA Davidson increased their price target on shares of Goldman Sachs Group from $215.00 to $238.00 and gave the stock a neutral rating in a research report on Thursday, July 16th. JPMorgan Chase & Co. reiterated a buy rating and set a $230.00 price target on shares of Goldman Sachs Group in a research report on Thursday, July 16th. Bank of America increased their price target on shares of Goldman Sachs Group from $230.00 to $233.00 and gave the stock a buy rating in a research report on Friday, July 10th. Finally, JMP Securities increased their price target on shares of Goldman Sachs Group from $280.00 to $285.00 and gave the stock a market outperform rating in a research report on Thursday. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and fifteen have issued a buy rating to the company. The stock has an average rating of Buy and an average price target of $249.29.

Shares of NYSE:GS opened at $206.21 on Thursday. The company’s 50 day moving average price is $202.41 and its two-hundred day moving average price is $195.54. Goldman Sachs Group has a 12-month low of $130.85 and a 12-month high of $250.46. The firm has a market cap of $70.95 billion, a PE ratio of 10.94, a PEG ratio of 6.54 and a beta of 1.39. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 2.82.

Goldman Sachs Group (NYSE:GS) last announced its earnings results on Tuesday, October 20th. The investment management company reported $9.68 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $5.57 by $4.11. Goldman Sachs Group had a net margin of 13.40% and a return on equity of 9.07%. The firm had revenue of $10.70 billion for the quarter, compared to analyst estimates of $9.40 billion. During the same quarter in the prior year, the business posted $4.79 EPS. The business’s revenue was up 28.6% compared to the same quarter last year. On average, research analysts expect that Goldman Sachs Group will post 14.17 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 30th. Stockholders of record on Wednesday, December 2nd will be paid a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a dividend yield of 2.42%. The ex-dividend date is Tuesday, December 1st. Goldman Sachs Group’s payout ratio is currently 23.78%.

Hedge funds have recently added to or reduced their stakes in the company. Howe & Rusling Inc. bought a new position in shares of Goldman Sachs Group during the second quarter valued at $35,000. Heritage Wealth Advisors raised its stake in shares of Goldman Sachs Group by 495.0% during the second quarter. Heritage Wealth Advisors now owns 1,190 shares of the investment management company’s stock valued at $39,000 after acquiring an additional 990 shares during the last quarter. Crewe Advisors LLC raised its stake in shares of Goldman Sachs Group by 42.8% during the third quarter. Crewe Advisors LLC now owns 207 shares of the investment management company’s stock valued at $42,000 after acquiring an additional 62 shares during the last quarter. Costello Asset Management INC bought a new position in shares of Goldman Sachs Group during the second quarter valued at $44,000. Finally, West Oak Capital LLC bought a new position in shares of Goldman Sachs Group during the third quarter valued at $48,000. 68.70% of the stock is owned by hedge funds and other institutional investors.

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.

Further Reading: Why are trading ranges significant?

The Fly

Analyst Recommendations 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 MarketBeat.com's FREE daily email newsletter.