Goldman Sachs Group Lowered to Neutral at Guggenheim (GS)
Goldman Sachs Group (NYSE:GS) was downgraded by investment analysts at Guggenheim from a “buy” rating to a “neutral” rating in a note issued to investors on Friday, TheFlyOnTheWall.com reports.
Shares of Goldman Sachs Group (NYSE:GS) opened at 162.29 on Friday. Goldman Sachs Group has a 52-week low of $113.23 and a 52-week high of $170.00. The stock’s 50-day moving average is $160.9 and its 200-day moving average is $156.. The company has a market cap of $76.033 billion and a P/E ratio of 9.87.
Goldman Sachs Group (NYSE:GS) last announced its earnings results on Tuesday, July 16th. The company reported $3.70 EPS for the quarter, beating the Thomson Reuters consensus estimate of $2.92 by $0.78. The company had revenue of $8.61 billion for the quarter, compared to the consensus estimate of $8.26 billion. During the same quarter in the prior year, the company posted $1.78 earnings per share. The company’s quarterly revenue was up 29.9% on a year-over-year basis. On average, analysts predict that Goldman Sachs Group will post $15.25 earnings per share for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at TheStreet reiterated a “buy” rating on shares of Goldman Sachs Group (NYSE:GS) in a research note to investors on Wednesday. Finally, analysts at Zacks reiterated a “neutral” rating on shares of Goldman Sachs Group (NYSE:GS) in a research note to investors on Friday, August 30th. They now have a $161.00 price target on the stock. Seventeen investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $159.81.
The Goldman Sachs Group, Inc (NYSE:GS), is a global investment banking, securities and investment management firm that provides a range of financial services to a substantial and diversified client base that includes corporations, financial institutions, governments and high-net-worth individuals.
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