Goldman Sachs Rating Reiterated by Zacks (GS)
Goldman Sachs (NYSE:GS)‘s stock had its “neutral” rating reissued by Zacks in a report issued on Tuesday. They currently have a $188.00 price target on the stock. Zacks‘s price objective would suggest a potential upside of 4.96% from the company’s current price.
Zacks’ analyst wrote, “Driven by strong top-line performance, Goldman’s second-quarter 2014 earnings significantly surpassed the Zacks Consensus Estimate. Moreover, results were higher than the year-ago quarter figure. Investment banking revenues were on an upswing. However, the company witnessed an increase in expenses. We expect Goldman to benefit from its well-managed global franchise, strong capital base and recent investments in the near future. Moreover, the Fed’s approval of the company’s 2014 capital plan depicts financial stability. However, regulatory issues, coupled with fundamental pressures on the banking sector, are expected to weigh on its financials in the coming quarters.”
In other Goldman Sachs news, EVP Edith W. Cooper unloaded 7,071 shares of Goldman Sachs stock on the open market in a transaction dated Thursday, August 28th. The stock was sold at an average price of $177.11, for a total value of $1,252,344.81. The sale was disclosed in a document filed with the SEC, which is available at this link.
A number of other analysts have also recently weighed in on GS. Analysts at MKM Partners initiated coverage on shares of Goldman Sachs in a research note on Tuesday, August 26th. They set a “buy” rating and a $213.00 price target on the stock. Separately, analysts at Morgan Stanley reiterated an “equal weight” rating on shares of Goldman Sachs in a research note on Thursday, July 17th. They now have a $180.00 price target on the stock. Finally, analysts at Macquarie reiterated a “neutral” rating on shares of Goldman Sachs in a research note on Wednesday, July 16th. They now have a $180.00 price target on the stock, up previously from $175.00. Two analysts have rated the stock with a sell rating, nine have given a hold rating and eight have assigned a buy rating to the company. Goldman Sachs currently has an average rating of “Hold” and an average target price of $183.74.
Goldman Sachs (NYSE:GS) traded up 0.25% during mid-day trading on Tuesday, hitting $179.55. The stock had a trading volume of 950,521 shares. Goldman Sachs has a 52 week low of $151.65 and a 52 week high of $181.13. The stock’s 50-day moving average is $173.4 and its 200-day moving average is $165.8. The company has a market cap of $82.198 billion and a P/E ratio of 11.49.
Goldman Sachs (NYSE:GS) last announced its earnings results on Tuesday, July 15th. The company reported $4.10 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $3.70 earnings per share. Goldman Sachs’s revenue was up 6.0% compared to the same quarter last year. On average, analysts predict that Goldman Sachs will post $16.54 earnings per share for the current fiscal year.
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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