Goldman Sachs Receives Underweight Rating from JPMorgan Chase & Co. (GS)
Goldman Sachs (NYSE:GS)‘s stock had its “underweight” rating restated by analysts at JPMorgan Chase & Co. in a research report issued to clients and investors on Wednesday. They currently have a $150.00 price objective on the stock, up from their previous price objective of $148.00. JPMorgan Chase & Co.’s price objective would suggest a potential downside of 11.33% from the company’s current price.
Goldman Sachs (NYSE:GS) traded up 0.89% on Wednesday, hitting $170.68. The stock had a trading volume of 2,424,167 shares. Goldman Sachs has a 52-week low of $151.33 and a 52-week high of $181.13. The stock has a 50-day moving average of $165.8 and a 200-day moving average of $165.0. The company has a market cap of $79.332 billion and a P/E ratio of 11.15. Goldman Sachs also was the target of unusually large options trading on Monday. Traders purchased 12,345 put options on the company. This is an increase of approximately 188% compared to the typical daily volume of 4,286 put options.
Goldman Sachs (NYSE:GS) last issued its quarterly earnings data on Tuesday, July 15th. The company reported $4.10 EPS for the quarter, beating the Thomson Reuters consensus estimate of $3.09 by $1.01. The company had revenue of $9.13 billion for the quarter, compared to the consensus estimate of $7.98 billion. During the same quarter in the prior year, the company posted $3.70 earnings per share. The company’s quarterly revenue was up 6.0% on a year-over-year basis. On average, analysts predict that Goldman Sachs will post $15.75 earnings per share for the current fiscal year.
A number of other firms have also recently commented on GS. Analysts at Zacks reiterated a “neutral” rating on shares of Goldman Sachs in a research note on Wednesday. They now have a $178.00 price target on the stock. Separately, analysts at Barclays raised their price target on shares of Goldman Sachs from $170.00 to $185.00 in a research note on Wednesday. They now have an “equal weight” rating on the stock. Finally, analysts at Sanford C. Bernstein downgraded shares of Goldman Sachs from an “outperform” rating to a “market perform” rating in a research note on Monday, June 30th. They now have a $180.00 price target on the stock, down previously from $205.00. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the company’s stock. Goldman Sachs presently has an average rating of “Hold” and an average target price of $178.81.
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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