Goldman Sachs (GS) Releases Earnings Results, Beats Expectations By $1.37 EPS
Goldman Sachs (NYSE:GS) posted its quarterly earnings data on Tuesday. The investment management company reported $6.95 EPS for the quarter, beating the Zacks’ consensus estimate of $5.58 by $1.37, Bloomberg Earnings reports. Goldman Sachs had a net margin of 13.36% and a return on equity of 11.66%. The company had revenue of $10.04 billion for the quarter, compared to analyst estimates of $8.73 billion. During the same period in the prior year, the firm posted $5.15 EPS. The company’s quarterly revenue was up 25.0% on a year-over-year basis.
Shares of GS stock opened at $253.63 on Wednesday. The stock has a market capitalization of $97,220.68, a PE ratio of 12.84, a PEG ratio of 1.03 and a beta of 1.36. The company has a debt-to-equity ratio of 3.09, a current ratio of 0.93 and a quick ratio of 0.93. Goldman Sachs has a one year low of $209.62 and a one year high of $275.31.
The company also recently announced a quarterly dividend, which was paid on Thursday, March 29th. Stockholders of record on Thursday, March 1st were issued a $0.75 dividend. The ex-dividend date of this dividend was Wednesday, February 28th. This represents a $3.00 annualized dividend and a dividend yield of 1.18%. Goldman Sachs’s dividend payout ratio is currently 15.18%.
Several brokerages recently issued reports on GS. Instinet reissued an “outperform” rating and set a $225.00 target price (down from $238.00) on shares of Goldman Sachs in a research note on Thursday, January 4th. Wells Fargo set a $330.00 target price on shares of Goldman Sachs and gave the stock an “outperform” rating in a research note on Thursday, March 22nd. Vining Sparks reissued a “hold” rating and set a $270.00 target price on shares of Goldman Sachs in a research note on Monday, January 8th. Barclays increased their target price on shares of Goldman Sachs from $262.00 to $308.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 2nd. Finally, Royal Bank of Canada increased their target price on shares of Goldman Sachs to $265.00 and gave the stock a “sector perform” rating in a research note on Thursday, January 18th. Three investment analysts have rated the stock with a sell rating, fourteen have given a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $262.41.
About Goldman Sachs
The Goldman Sachs Group, Inc operates as an investment banking, securities, and investment management company worldwide. It operates through 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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