Goldman Sachs Group (GS) Downgraded by Zacks Investment Research

Zacks Investment Research downgraded shares of Goldman Sachs Group (NYSE:GS) from a strong-buy rating to a hold rating in a report released on Tuesday morning.

According to Zacks, “Shares of Goldman underperformed the industry over the past six months. However, the company boasts an impressive earnings surprise history. It surpassed the Zacks Consensus Estimate for earnings in all the trailing four quarters. The company’s first-quarter 2018 results witnessed top-line strength. Strong trading activities on high volatility supported the bottom-line numbers. Though regulatory issues are concerns, we believe the company’s well-diversified business and focus to capitalize on growth opportunities through strategic moves will continue to strengthen the overall business. Further, its cost-control measures are commendable. Additionally, the company’s steady capital-deployment activities have boosted investors' confidence. Notably, longtime CEO of Goldman is likely to retire by the end of 2018.”

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GS has been the topic of several other reports. Wells Fargo & Co reissued an outperform rating and issued a $320.00 target price on shares of Goldman Sachs Group in a report on Thursday, January 25th. Morgan Stanley boosted their target price on Goldman Sachs Group from $294.00 to $297.00 and gave the stock an overweight rating in a report on Friday, February 2nd. Vetr raised Goldman Sachs Group from a sell rating to a hold rating and set a $246.36 target price on the stock in a report on Thursday, February 8th. Bank of America reissued a buy rating and issued a $300.00 target price (up from $249.30) on shares of Goldman Sachs Group in a report on Monday, February 12th. Finally, JPMorgan Chase & Co. reissued a buy rating and issued a $280.00 target price on shares of Goldman Sachs Group in a report on Thursday, March 15th. Three investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and ten have issued a buy rating to the company. Goldman Sachs Group presently has an average rating of Hold and a consensus price target of $266.78.

GS stock opened at $236.10 on Tuesday. Goldman Sachs Group has a 1-year low of $209.62 and a 1-year high of $275.31. The company has a market capitalization of $89.83 billion, a PE ratio of 11.95, a P/E/G ratio of 0.82 and a beta of 1.38. The company has a debt-to-equity ratio of 3.12, a quick ratio of 0.92 and a current ratio of 0.92.

Goldman Sachs Group (NYSE:GS) last released its quarterly earnings data on Tuesday, April 17th. The investment management company reported $6.95 earnings per share for the quarter, beating the consensus estimate of $5.58 by $1.37. Goldman Sachs Group had a return on equity of 12.58% and a net margin of 14.27%. 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 company posted $5.15 EPS. The company’s revenue was up 25.0% compared to the same quarter last year. analysts forecast that Goldman Sachs Group will post 23.27 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 28th. Shareholders of record on Thursday, May 31st will be issued a dividend of $0.80 per share. This is an increase from Goldman Sachs Group’s previous quarterly dividend of $0.75. The ex-dividend date of this dividend is Wednesday, May 30th. This represents a $3.20 annualized dividend and a yield of 1.36%. Goldman Sachs Group’s dividend payout ratio is currently 15.18%.

In other news, insider David M. Solomon sold 3,497 shares of the stock in a transaction on Tuesday, May 15th. The stock was sold at an average price of $244.40, for a total value of $854,666.80. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 2.57% of the stock is currently owned by corporate insiders.

Several hedge funds have recently bought and sold shares of GS. Icon Wealth Partners LLC acquired a new position in shares of Goldman Sachs Group in the 4th quarter valued at $113,000. Cerebellum GP LLC acquired a new position in shares of Goldman Sachs Group in the 4th quarter valued at $122,000. Prime Capital Investment Advisors LLC bought a new stake in shares of Goldman Sachs Group in the 4th quarter valued at $127,000. We Are One Seven LLC bought a new stake in shares of Goldman Sachs Group in the 4th quarter valued at $137,000. Finally, Crewe Advisors LLC increased its position in shares of Goldman Sachs Group by 65.5% in the 1st quarter. Crewe Advisors LLC now owns 581 shares of the investment management company’s stock valued at $146,000 after buying an additional 230 shares in the last quarter. 72.42% of the stock is currently owned by 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 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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