ValuEngine Downgrades Goldman Sachs (GS) to Hold

Goldman Sachs (NYSE:GS) was downgraded by stock analysts at ValuEngine from a “buy” rating to a “hold” rating in a report issued on Saturday.

A number of other equities analysts have also commented on the company. Zacks Investment Research raised Goldman Sachs from a “hold” rating to a “strong-buy” rating and set a $292.00 price objective on the stock in a research note on Friday. Keefe, Bruyette & Woods reissued a “hold” rating on shares of Goldman Sachs in a research note on Wednesday, April 18th. Credit Suisse Group boosted their price objective on Goldman Sachs from $274.00 to $280.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 18th. Oppenheimer boosted their price objective on Goldman Sachs from $280.00 to $308.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 18th. Finally, BMO Capital Markets reaffirmed a “hold” rating and set a $245.00 price target (up previously from $221.00) on shares of Goldman Sachs in a research note on Wednesday, April 18th. Three investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. Goldman Sachs presently has an average rating of “Hold” and an average price target of $266.78.

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Shares of GS stock opened at $251.96 on Friday. The company has a current ratio of 0.92, a quick ratio of 0.93 and a debt-to-equity ratio of 2.69. The firm has a market capitalization of $95,716.33, a P/E ratio of 12.75, a P/E/G ratio of 0.88 and a beta of 1.37. Goldman Sachs has a one year low of $209.62 and a one year high of $275.31.

Goldman Sachs (NYSE:GS) last posted its quarterly earnings data on Tuesday, April 17th. The investment management company reported $6.95 EPS for the quarter, topping analysts’ consensus estimates of $5.58 by $1.37. The company had revenue of $10.04 billion for the quarter, compared to analyst estimates of $8.73 billion. Goldman Sachs had a return on equity of 12.10% and a net margin of 14.27%. The business’s revenue was up 25.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $5.15 earnings per share. research analysts expect that Goldman Sachs will post 23.27 earnings per share for the current fiscal year.

In other Goldman Sachs news, insider David M. Solomon sold 21,252 shares of the stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $271.65, for a total value of $5,773,105.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Vice Chairman Pablo J. Salame sold 10,000 shares of the stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $270.42, for a total value of $2,704,200.00. The disclosure for this sale can be found here. Insiders sold 66,048 shares of company stock valued at $17,668,347 in the last quarter. 2.57% of the stock is currently owned by corporate insiders.

Several institutional investors have recently made changes to their positions in the business. Icon Wealth Partners LLC acquired a new position in shares of Goldman Sachs during the fourth quarter worth about $113,000. Cerebellum GP LLC acquired a new position in shares of Goldman Sachs during the fourth quarter worth about $122,000. Prime Capital Investment Advisors LLC acquired a new position in shares of Goldman Sachs during the fourth quarter worth about $127,000. We Are One Seven LLC acquired a new position in shares of Goldman Sachs during the fourth quarter worth about $137,000. Finally, Waldron LP acquired a new position in shares of Goldman Sachs during the fourth quarter worth about $203,000. Institutional investors own 73.21% of the company’s stock.

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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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Goldman Sachs (NYSE:GS)

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