The Goldman Sachs Group (NYSE:GS) Announces Quarterly Earnings Results, Beats Estimates By $3.74 EPS

The Goldman Sachs Group (NYSE:GS - Get Free Report) released its quarterly earnings data on Wednesday. The investment management company reported $11.95 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $8.21 by $3.74, Briefing.com reports. The Goldman Sachs Group had a return on equity of 11.39% and a net margin of 9.89%. The firm had revenue of $13.87 billion during the quarter, compared to analysts' expectations of $12.36 billion. During the same quarter last year, the firm earned $5.48 earnings per share. The business's revenue for the quarter was up 22.5% on a year-over-year basis.

The Goldman Sachs Group Stock Performance

GS traded up $34.36 during trading on Wednesday, reaching $605.89. 5,116,531 shares of the company's stock were exchanged, compared to its average volume of 2,384,496. The business has a 50 day moving average price of $585.67 and a 200 day moving average price of $527.58. The company has a market capitalization of $190.19 billion, a P/E ratio of 17.78, a PEG ratio of 0.85 and a beta of 1.38. The Goldman Sachs Group has a fifty-two week low of $372.07 and a fifty-two week high of $612.73. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 2.32.

Insider Activity

In related news, CAO Sheara J. Fredman sold 2,974 shares of the firm's stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $594.51, for a total transaction of $1,768,072.74. Following the completion of the sale, the chief accounting officer now directly owns 8,489 shares of the company's stock, valued at $5,046,795.39. This trade represents a 25.94 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Brian J. Lee sold 2,000 shares of the business's stock in a transaction on Thursday, October 17th. The stock was sold at an average price of $530.90, for a total value of $1,061,800.00. Following the completion of the transaction, the insider now directly owns 10,095 shares in the company, valued at approximately $5,359,435.50. This represents a 16.54 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 22,940 shares of company stock worth $13,717,979. Corporate insiders own 0.54% of the company's stock.

Wall Street Analyst Weigh In

GS has been the topic of a number of research reports. Evercore ISI increased their price objective on The Goldman Sachs Group from $520.00 to $575.00 and gave the stock an "outperform" rating in a report on Wednesday, October 16th. Morgan Stanley increased their price target on shares of The Goldman Sachs Group from $560.00 to $570.00 and gave the stock an "overweight" rating in a research note on Wednesday, October 16th. Citigroup lifted their price objective on shares of The Goldman Sachs Group from $485.00 to $585.00 and gave the company a "neutral" rating in a research note on Thursday, November 21st. Hsbc Global Res downgraded The Goldman Sachs Group from a "strong-buy" rating to a "hold" rating in a report on Tuesday, November 26th. Finally, Wells Fargo & Company raised their target price on shares of The Goldman Sachs Group from $600.00 to $680.00 and gave the company an "overweight" rating in a research note on Friday, November 15th. Eight analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $569.31.

The Goldman Sachs Group Company Profile

The Goldman Sachs Group, Inc, a financial institution, provides a range of financial services for corporations, financial institutions, governments, and individuals worldwide. It operates through Global Banking & Markets, Asset & Wealth Management, and Platform Solutions segments. The Global Banking & Markets segment provides financial advisory services, including strategic advisory assignments related to mergers and acquisitions, divestitures, corporate defense activities, restructurings, and spin-offs; and relationship lending, and acquisition financing, as well as secured lending, through structured credit and asset-backed lending and involved in financing under securities to resale agreements.