Goldman Sachs Group (GS) Price Target Cut to $260.00 by Analysts at BMO Capital Markets

Goldman Sachs Group (NYSE:GS) had its price objective lowered by BMO Capital Markets from $262.00 to $260.00 in a research note published on Tuesday morning, AnalystRatings.com reports. BMO Capital Markets currently has a market perform rating on the investment management company’s stock.

A number of other research analysts also recently commented on the company. Barclays reiterated an equal weight rating and set a $247.00 target price (down from $289.00) on shares of Goldman Sachs Group in a research report on Wednesday, January 2nd. Societe Generale downgraded Goldman Sachs Group from a hold rating to a sell rating in a research report on Friday, February 1st. Morgan Stanley downgraded Goldman Sachs Group to a sell rating in a research report on Monday, February 4th. ValuEngine upgraded Goldman Sachs Group from a strong sell rating to a sell rating in a research report on Wednesday, January 16th. Finally, Wells Fargo & Co reiterated a buy rating and set a $250.00 target price (up from $235.00) on shares of Goldman Sachs Group in a research report on Wednesday, January 16th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and five have assigned a buy rating to the company’s stock. Goldman Sachs Group currently has a consensus rating of Hold and an average price target of $239.91.

Shares of GS opened at $205.91 on Tuesday. The company has a quick ratio of 0.92, a current ratio of 0.86 and a debt-to-equity ratio of 2.50. Goldman Sachs Group has a 1 year low of $151.70 and a 1 year high of $256.16. The company has a market cap of $75.52 billion, a price-to-earnings ratio of 8.15, a P/E/G ratio of 1.29 and a beta of 1.22.

Goldman Sachs Group (NYSE:GS) last announced its quarterly earnings data on Monday, April 15th. The investment management company reported $5.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.74 by $0.97. Goldman Sachs Group had a net margin of 25.13% and a return on equity of 12.35%. The business had revenue of $8.81 billion during the quarter, compared to analyst estimates of $8.89 billion. During the same period last year, the firm posted $6.95 EPS. The company’s revenue was down 12.6% on a year-over-year basis. Analysts forecast that Goldman Sachs Group will post 22.94 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 27th. Investors of record on Thursday, May 30th will be given a $0.85 dividend. The ex-dividend date is Wednesday, May 29th. This is an increase from Goldman Sachs Group’s previous quarterly dividend of $0.80. This represents a $3.40 dividend on an annualized basis and a yield of 1.65%. Goldman Sachs Group’s dividend payout ratio (DPR) is currently 12.66%.

In related news, EVP Dane E. Holmes sold 1,489 shares of the firm’s stock in a transaction on Wednesday, February 20th. The stock was sold at an average price of $198.31, for a total value of $295,283.59. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.41% of the stock is owned by company insiders.

Large investors have recently added to or reduced their stakes in the company. Capital Financial Planning LLC bought a new stake in shares of Goldman Sachs Group during the fourth quarter worth $26,000. Toth Financial Advisory Corp lifted its position in shares of Goldman Sachs Group by 100.0% during the first quarter. Toth Financial Advisory Corp now owns 140 shares of the investment management company’s stock worth $27,000 after purchasing an additional 70 shares during the last quarter. Liberty Wealth Management LLC bought a new stake in shares of Goldman Sachs Group during the fourth quarter worth $29,000. Loeb Partners Corp bought a new stake in shares of Goldman Sachs Group during the fourth quarter worth $33,000. Finally, Riverview Trust Co bought a new stake in shares of Goldman Sachs Group during the fourth quarter worth $33,000. Institutional investors and hedge funds own 70.11% of the company’s stock.

About Goldman Sachs Group

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.

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