Oppenheimer Raises Goldman Sachs Group (NYSE:GS) Price Target to $356.00

Goldman Sachs Group (NYSE:GS) had its target price boosted by Oppenheimer from $326.00 to $356.00 in a report issued on Thursday, The Fly reports. Oppenheimer also issued estimates for Goldman Sachs Group’s Q2 2021 earnings at $4.55 EPS and FY2022 earnings at $27.85 EPS.

Several other research analysts also recently weighed in on GS. Seaport Global Securities started coverage on shares of Goldman Sachs Group in a research report on Wednesday, July 8th. They issued a buy rating and a $261.00 target price on the stock. UBS Group upgraded shares of Goldman Sachs Group from a neutral rating to a buy rating and lifted their price objective for the stock from $220.00 to $245.00 in a research report on Wednesday, September 23rd. Citigroup increased their target price on Goldman Sachs Group from $285.00 to $300.00 and gave the company a buy rating in a report on Thursday. Royal Bank of Canada set a $225.00 price target on Goldman Sachs Group and gave the company a neutral rating in a report on Wednesday. Finally, Bank of America increased their price objective on Goldman Sachs Group from $230.00 to $233.00 and gave the stock a buy rating in a research note on Friday, July 10th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and fifteen have given a buy rating to the company. The stock has an average rating of Buy and an average price target of $249.29.

GS opened at $206.21 on Thursday. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 2.82. The firm has a market cap of $70.95 billion, a PE ratio of 10.94, a P/E/G ratio of 6.54 and a beta of 1.39. The business has a fifty day simple moving average of $202.41 and a 200-day simple moving average of $195.54. Goldman Sachs Group has a fifty-two week low of $130.85 and a fifty-two week high of $250.46.

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

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

A number of institutional investors have recently bought and sold shares of GS. Howe & Rusling Inc. acquired a new stake in shares of Goldman Sachs Group in the second quarter worth about $35,000. Crewe Advisors LLC raised its stake in shares of Goldman Sachs Group by 42.8% in the 3rd 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 in the last quarter. Costello Asset Management INC acquired a new stake in Goldman Sachs Group in the 2nd quarter worth approximately $44,000. West Oak Capital LLC bought a new stake in Goldman Sachs Group during the third quarter worth approximately $48,000. Finally, CX Institutional grew its holdings in Goldman Sachs Group by 183.0% during the second quarter. CX Institutional now owns 249 shares of the investment management company’s stock valued at $49,000 after purchasing an additional 161 shares during the last quarter. 68.70% of the stock is currently owned by hedge funds and other institutional investors.

Goldman Sachs Group Company Profile

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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