The Goldman Sachs Group (NYSE:GS) Issues Earnings Results, Beats Expectations By $1.51 EPS

The Goldman Sachs Group (NYSE:GS) posted its quarterly earnings data on Tuesday. The investment management company reported $8.40 earnings per share for the quarter, beating analysts’ consensus estimates of $6.89 by $1.51, Briefing.com reports. The company had revenue of $12.70 billion during the quarter, compared to analysts’ expectations of $11.77 billion. The Goldman Sachs Group had a net margin of 9.36% and a return on equity of 10.56%. The firm’s revenue for the quarter was up 7.4% on a year-over-year basis. During the same period in the prior year, the company posted $5.47 EPS.

The Goldman Sachs Group Stock Up 0.1 %

Shares of GS stock opened at $530.25 on Thursday. The stock’s 50 day simple moving average is $496.53 and its 200 day simple moving average is $467.83. The Goldman Sachs Group has a twelve month low of $289.36 and a twelve month high of $540.51. The company has a debt-to-equity ratio of 2.20, a quick ratio of 0.72 and a current ratio of 0.72. The company has a market capitalization of $170.99 billion, a price-to-earnings ratio of 20.69, a PEG ratio of 0.77 and a beta of 1.36.

The Goldman Sachs Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Monday, December 2nd will be issued a dividend of $3.00 per share. The ex-dividend date is Monday, December 2nd. This represents a $12.00 dividend on an annualized basis and a dividend yield of 2.26%. The Goldman Sachs Group’s dividend payout ratio is currently 46.86%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Wolfe Research raised shares of The Goldman Sachs Group to a “hold” rating in a research report on Wednesday, September 18th. Royal Bank of Canada restated a “sector perform” rating and issued a $500.00 target price on shares of The Goldman Sachs Group in a research note on Tuesday, July 30th. Keefe, Bruyette & Woods upped their target price on shares of The Goldman Sachs Group from $555.00 to $570.00 and gave the company an “outperform” rating in a research note on Wednesday. JPMorgan Chase & Co. upped their target price on shares of The Goldman Sachs Group from $472.00 to $520.00 and gave the company an “overweight” rating in a research note on Wednesday. Finally, JMP Securities upped their target price on shares of The Goldman Sachs Group from $525.00 to $550.00 and gave the company a “market outperform” rating in a research note on Wednesday, October 9th. Five analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $524.69.

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.