The Goldman Sachs Group (NYSE:GS) Announces Quarterly Earnings Results, Beats Estimates By $3.74 EPS

The Goldman Sachs Group (NYSE:GS) released its quarterly earnings data on Wednesday. The investment management company reported $11.95 EPS for the quarter, topping the consensus estimate of $8.21 by $3.74, Briefing.com reports. The Goldman Sachs Group had a return on equity of 11.39% and a net margin of 9.89%. The company had revenue of $13.87 billion for the quarter, compared to the consensus estimate of $12.36 billion. During the same period last year, the business posted $5.48 EPS. The Goldman Sachs Group’s quarterly revenue was up 22.5% on a year-over-year basis.

The Goldman Sachs Group Trading Up 6.0 %

NYSE:GS opened at $605.89 on Thursday. The company has a market capitalization of $190.19 billion, a P/E ratio of 17.78, a PEG ratio of 0.66 and a beta of 1.38. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 2.32. The Goldman Sachs Group has a 12 month low of $372.07 and a 12 month high of $612.73. The firm has a fifty day simple moving average of $585.67 and a 200-day simple moving average of $527.58.

Insider Buying and Selling

In other news, CEO David M. Solomon sold 6,550 shares of the company’s stock in a transaction on Friday, November 29th. The shares were sold at an average price of $610.91, for a total value of $4,001,460.50. Following the sale, the chief executive officer now directly owns 117,883 shares of the company’s stock, valued at $72,015,903.53. This represents a 5.26 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Sheara J. Fredman sold 2,974 shares of the firm’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $594.51, for a total transaction of $1,768,072.74. Following the transaction, the chief accounting officer now directly owns 8,489 shares of the company’s stock, valued at approximately $5,046,795.39. This trade represents a 25.94 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 20,940 shares of company stock worth $12,656,179 in the last 90 days. Insiders own 0.57% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Bank of America raised their price target on The Goldman Sachs Group from $563.00 to $575.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Wells Fargo & Company boosted their price target on shares of The Goldman Sachs Group from $600.00 to $680.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Evercore ISI increased their price objective on shares of The Goldman Sachs Group from $520.00 to $575.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. JMP Securities boosted their price objective on shares of The Goldman Sachs Group from $525.00 to $550.00 and gave the stock a “market outperform” rating in a research note on Wednesday, October 9th. Finally, JPMorgan Chase & Co. upped their target price on The Goldman Sachs Group from $520.00 to $550.00 and gave the stock an “overweight” rating in a report on Friday, December 6th. Eight equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, The Goldman Sachs Group has an average rating of “Moderate Buy” and an average target price of $569.31.

About The Goldman Sachs Group

The Goldman Sachs Group, Inc, a financial institution, provides a range of financial services for corporations, financial institutions, governments, and individuals worldwide. It operates through Global Banking & Markets, Asset & Wealth Management, and Platform Solutions segments. The Global Banking & Markets segment provides financial advisory services, including strategic advisory assignments related to mergers and acquisitions, divestitures, corporate defense activities, restructurings, and spin-offs; and relationship lending, and acquisition financing, as well as secured lending, through structured credit and asset-backed lending and involved in financing under securities to resale agreements.