Goldman Sachs Group, Inc. (The) (NYSE:GS) Announces Quarterly Earnings Results

Goldman Sachs Group, Inc. (The) (NYSE:GS) issued its quarterly earnings results on Tuesday. The investment management company reported $3.95 EPS for the quarter, beating analysts’ consensus estimates of $3.42 by $0.53, Bloomberg Earnings reports. The company had revenue of $7.89 billion for the quarter, compared to analyst estimates of $7.47 billion. Goldman Sachs Group, Inc. (The) had a return on equity of 11.26% and a net margin of 26.38%. The company’s quarterly revenue was down .6% compared to the same quarter last year. During the same period last year, the company earned $3.72 earnings per share.

Shares of Goldman Sachs Group, Inc. (GS) opened at 223.31 on Wednesday. The stock’s 50 day moving average price is $222.32 and its 200-day moving average price is $231.38. The stock has a market capitalization of $91.40 billion, a P/E ratio of 11.88 and a beta of 1.42. Goldman Sachs Group, Inc. has a 1-year low of $155.37 and a 1-year high of $255.15.

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 28th. Stockholders of record on Thursday, August 31st will be paid a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.34%. Goldman Sachs Group, Inc. (The)’s dividend payout ratio (DPR) is presently 15.93%.

A number of research analysts have recently commented on the company. Capital One Financial Corporation reissued a “buy” rating on shares of Goldman Sachs Group, Inc. (The) in a report on Tuesday, July 11th. Buckingham Research reissued a “neutral” rating and set a $243.00 price target (up from $235.00) on shares of Goldman Sachs Group, Inc. (The) in a report on Monday, July 10th. Keefe, Bruyette & Woods reissued an “outperform” rating on shares of Goldman Sachs Group, Inc. (The) in a report on Tuesday, July 4th. Deutsche Bank AG reissued a “buy” rating on shares of Goldman Sachs Group, Inc. (The) in a report on Monday, July 3rd. Finally, BidaskClub raised Goldman Sachs Group, Inc. (The) from a “sell” rating to a “hold” rating in a report on Thursday, June 29th. Two equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $238.88.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Aperio Group LLC boosted its position in Goldman Sachs Group, Inc. (The) by 8.7% in the second quarter. Aperio Group LLC now owns 184,204 shares of the investment management company’s stock valued at $40,875,000 after buying an additional 14,770 shares in the last quarter. Diversified Trust Co purchased a new position in Goldman Sachs Group, Inc. (The) during the second quarter valued at $1,052,000. Culbertson A N & Co. Inc. boosted its position in Goldman Sachs Group, Inc. (The) by 1.4% in the second quarter. Culbertson A N & Co. Inc. now owns 29,205 shares of the investment management company’s stock valued at $6,481,000 after buying an additional 401 shares in the last quarter. Main Street Research LLC boosted its position in Goldman Sachs Group, Inc. (The) by 6.2% in the second quarter. Main Street Research LLC now owns 39,706 shares of the investment management company’s stock valued at $8,811,000 after buying an additional 2,305 shares in the last quarter. Finally, North Star Investment Management Corp. boosted its position in Goldman Sachs Group, Inc. (The) by 24.0% in the second quarter. North Star Investment Management Corp. now owns 3,592 shares of the investment management company’s stock valued at $797,000 after buying an additional 696 shares in the last quarter. 74.35% of the stock is owned by institutional investors.

Goldman Sachs Group, Inc. (The) announced that its board has authorized a share buyback program on Tuesday, April 18th that permits the company to buyback 50,000,000 shares. This buyback authorization permits the investment management company to repurchase shares of its stock through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its shares are undervalued.

Goldman Sachs Group, Inc. (The) Company Profile

The Goldman Sachs Group, Inc is an investment banking, securities and investment management company that provides a range of financial services to corporations, financial institutions, governments and individuals. The Company operates in four business segments: Investment Banking, Institutional Client Services, Investing & Lending, and Investment Management.