The Goldman Sachs Group (NYSE:GS) Upgraded at TD Cowen

The Goldman Sachs Group (NYSE:GS) was upgraded by analysts at TD Cowen to a “strong-buy” rating in a research report issued to clients and investors on Wednesday, Zacks reports.

Several other brokerages have also recently issued reports on GS. Weiss Ratings raised The Goldman Sachs Group from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, September 25th. Jefferies Financial Group set a $1,299.00 target price on The Goldman Sachs Group in a report on Wednesday, July 15th. Loop Capital set a $1,050.00 price target on The Goldman Sachs Group in a research report on Thursday. JPMorgan Chase & Co. boosted their price target on The Goldman Sachs Group from $900.00 to $955.00 and gave the company a “neutral” rating in a report on Wednesday, July 15th. Finally, UBS Group lowered their price objective on The Goldman Sachs Group from $1,150.00 to $1,010.00 and set a “neutral” rating on the stock in a research report on Monday. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $1,055.09.

The Goldman Sachs Group Trading Down 0.6%

Shares of The Goldman Sachs Group stock opened at $882.26 on Wednesday. The company has a debt-to-equity ratio of 3.17, a current ratio of 0.63 and a quick ratio of 0.63. The firm has a fifty day moving average price of $992.83 and a 200 day moving average price of $987.89. The Goldman Sachs Group has a 1 year low of $740.01 and a 1 year high of $1,153.99. The stock has a market cap of $256.89 billion, a PE ratio of 13.62, a price-to-earnings-growth ratio of 0.97 and a beta of 1.29.

The Goldman Sachs Group (NYSE:GS) last posted its quarterly earnings results on Tuesday, July 14th. The investment management company reported $20.98 EPS for the quarter, beating the consensus estimate of $14.47 by $6.51. The Goldman Sachs Group had a net margin of 15.53% and a return on equity of 19.16%. The company had revenue of $20.34 billion for the quarter, compared to analyst estimates of $16.22 billion. During the same period in the prior year, the company earned $10.91 earnings per share. The firm’s revenue was up 39.4% on a year-over-year basis. Equities research analysts predict that The Goldman Sachs Group will post 67.48 earnings per share for the current year.

Hedge Funds Weigh In On The Goldman Sachs Group

A number of hedge funds have recently bought and sold shares of GS. Sky Investment Group LLC lifted its stake in shares of The Goldman Sachs Group by 0.9% in the second quarter. Sky Investment Group LLC now owns 1,168 shares of the investment management company’s stock valued at $1,181,000 after purchasing an additional 10 shares during the period. Warren Street Wealth Advisors LLC increased its holdings in The Goldman Sachs Group by 3.9% in the second quarter. Warren Street Wealth Advisors LLC now owns 269 shares of the investment management company’s stock valued at $272,000 after buying an additional 10 shares in the last quarter. First Financial Group Corp lifted its position in shares of The Goldman Sachs Group by 4.7% during the 1st quarter. First Financial Group Corp now owns 246 shares of the investment management company’s stock valued at $208,000 after acquiring an additional 11 shares during the period. Meadow Creek Wealth Advisors LLC boosted its stake in shares of The Goldman Sachs Group by 1.7% during the 1st quarter. Meadow Creek Wealth Advisors LLC now owns 673 shares of the investment management company’s stock worth $569,000 after acquiring an additional 11 shares in the last quarter. Finally, DecisionMap Wealth Management LLC boosted its stake in shares of The Goldman Sachs Group by 3.2% during the 2nd quarter. DecisionMap Wealth Management LLC now owns 350 shares of the investment management company’s stock worth $354,000 after acquiring an additional 11 shares in the last quarter. Hedge funds and other institutional investors own 71.21% of the company’s stock.

Key The Goldman Sachs Group News

Here are the key news stories impacting The Goldman Sachs Group this week:

• Positive Sentiment: TD Cowen initiated coverage of GS with a Buy rating and a $1,050 price target, implying meaningful upside from recent levels and providing a new bullish analyst view.
• Positive Sentiment: Goldman’s planned special equity awards of more than $500 million for CEO David Solomon and other senior executives reflect strong five-year performance relative to many rivals. However, the size of the payout could also raise shareholder concerns about compensation. Goldman to pay top executives $500mn in special bonuses
• Neutral Sentiment: Investors are reviewing analyst projections for Goldman’s September-quarter revenue, earnings and operating metrics ahead of results. The previews offer potential catalysts but do not provide new company-reported figures. Seeking Clues to Goldman Q3 Earnings
• Neutral Sentiment: Goldman’s market capitalization briefly fell below Canada’s Royal Bank of Canada after RBC’s decade of growth, highlighting increasing competition among global financial institutions but having limited direct impact on GS fundamentals.
• Neutral Sentiment: Goldman upgraded Occidental Petroleum to Buy and adjusted its Sunrun price target to $11 while retaining a Buy rating. These calls may support the firm’s investment-banking and research franchise, but they do not materially change GS earnings expectations.
• Negative Sentiment: Higher bond yields have contributed to a broad sell-off in Goldman and other financial stocks, reducing investor appetite for risk and pressuring GS valuation.
• Negative Sentiment: Citi reportedly moved ahead of Goldman in global IPO underwriting rankings after winning several major listings. Losing the long-held leadership position could raise concerns about future equity-capital-markets fees and deal flow. Is Goldman Sachs Losing Its Grip On Global IPO Underwriting?
• Negative Sentiment: A breach at EY exposed data involving some Goldman wealth-management clients. Goldman says its own systems were not affected and client assets remain safe, limiting the direct impact but creating reputational and client-confidence risks.
• Negative Sentiment: UBS lowered its expectations for GS’s share price, adding to the cautious analyst sentiment surrounding the stock.

About The Goldman Sachs Group

The Goldman Sachs Group, Inc is a global financial services company headquartered in New York City. Founded in 1869, the firm provides services to corporations, financial institutions, governments, individuals and other clients through its investment banking, markets, asset management and wealth management businesses.

Goldman Sachs advises clients on mergers and acquisitions, financing and other strategic transactions, and facilitates trading in equities, fixed income, currencies and commodities.