JMP Securities Raises Goldman Sachs Group (NYSE:GS) Price Target to $285.00

Goldman Sachs Group (NYSE:GS) had its price objective hoisted by JMP Securities from $280.00 to $285.00 in a report published on Thursday, Analyst Ratings Network reports. They currently have a market outperform rating on the investment management company’s stock.

Several other analysts have also commented on the stock. Citigroup lifted their price objective on shares of Goldman Sachs Group from $265.00 to $285.00 and gave the stock a buy rating in a research report on Tuesday, August 4th. Royal Bank of Canada set a $225.00 price objective on shares of Goldman Sachs Group and gave the stock a neutral rating in a research report on Wednesday. DA Davidson boosted their price target on shares of Goldman Sachs Group from $215.00 to $238.00 and gave the company a neutral rating in a research report on Thursday, July 16th. Bank of America boosted their price target on shares of Goldman Sachs Group from $230.00 to $233.00 and gave the company a buy rating in a research report on Friday, July 10th. Finally, Credit Suisse Group boosted their price target on shares of Goldman Sachs Group from $240.00 to $255.00 and gave the company an outperform rating in a research report on Thursday, July 16th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and fifteen have assigned a buy rating to the company. Goldman Sachs Group presently has a consensus rating of Buy and an average target price of $249.29.

Shares of GS stock opened at $206.21 on Thursday. The firm has a market cap of $70.95 billion, a price-to-earnings ratio of 10.94, a P/E/G ratio of 6.54 and a beta of 1.39. The company has a debt-to-equity ratio of 2.82, a quick ratio of 0.76 and a current ratio of 0.76. Goldman Sachs Group has a 52 week low of $130.85 and a 52 week high of $250.46. The firm’s 50-day simple moving average is $202.41 and its two-hundred day simple moving average is $195.54.

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

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 30th. Investors of record on Wednesday, December 2nd will be issued a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 2.42%. The ex-dividend date of this dividend is Tuesday, December 1st. Goldman Sachs Group’s dividend payout ratio (DPR) is presently 23.78%.

Institutional investors have recently bought and sold shares of the stock. Guardian Capital Advisors LP bought a new stake in Goldman Sachs Group during the 2nd quarter worth approximately $307,000. Aviance Capital Partners LLC grew its stake in Goldman Sachs Group by 8.3% in the 2nd quarter. Aviance Capital Partners LLC now owns 12,918 shares of the investment management company’s stock worth $2,553,000 after buying an additional 995 shares in the last quarter. Wellington Management Group LLP grew its stake in Goldman Sachs Group by 118.3% in the 1st quarter. Wellington Management Group LLP now owns 101,098 shares of the investment management company’s stock worth $15,629,000 after buying an additional 54,794 shares in the last quarter. Brave Asset Management Inc. grew its stake in Goldman Sachs Group by 19.6% in the 2nd quarter. Brave Asset Management Inc. now owns 3,784 shares of the investment management company’s stock worth $748,000 after buying an additional 620 shares in the last quarter. Finally, Telemus Capital LLC grew its stake in Goldman Sachs Group by 121.9% in the 2nd quarter. Telemus Capital LLC now owns 5,462 shares of the investment management company’s stock worth $1,123,000 after buying an additional 3,000 shares in the last quarter. 68.70% of the stock is currently 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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