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Goldman Sachs Group (GS) Upgraded to Buy at Vertical Group

17 January 2018

The firm's quarterly revenue was up 2.0% compared to the same quarter past year. Analysts expected $4.91 cents per share, according to Thomson Reuters I/B/E/S estimate.

Among 30 analysts covering Goldman Sachs Group Inc. Without this expense, Goldman said earnings per share would have been $5.68.

However, both adjusted earnings per share and revenues for the quarter topped analysts' expectations. South Dakota Investment Council boosted its stake in Goldman Sachs Group, Inc.

The investment bank titan also beat on revenue, reporting $7.83 billion against estimates of $7.61 billion. They expect $1.94 earnings per share, up 56.45% or $0.70 from last year's $1.24 per share. The business's quarterly revenue was up 2.0% on a year-over-year basis. TheStreet upgraded shares of Goldman Sachs Group from a "c+" rating to a "b" rating in a research note on Friday, October 13th. (The) from a "hold" rating to a "buy" rating and set a $184.00 target price on the stock in a research report on Monday, October 17th. The company has a consensus rating of "Hold" and a consensus price target of $250.89.

The stock initially dipped on the downgrade but recovered to US$176.60 in pre-market trading, up 0.2% - though this was admittedly below the expected rise in the market overall - after of Bank of America Merrill Lynch weighed in and raised its price target from US$180 to US$200. About 4.45M shares traded or 62.80% up from the average. The company has a debt-to-equity ratio of 2.82, a quick ratio of 0.90 and a current ratio of 0.90. Goldman Sachs Group Inc has a 52 week low of $209.62 and a 52 week high of $262.14. The firm has a market cap of $96,952.10, a P/E ratio of 13.46, a PEG ratio of 0.94 and a beta of 1.47. The stock increased 1.19% or $3.06 during the last trading session, reaching $260.09. The company was maintained on Wednesday, November 1 by Aegis Capital. Goldman Sachs Group's dividend payout ratio (DPR) is presently 15.58%.

Goldman Sachs Group Inc (NYSE:GS) opened at $258.46 on Wednesday. The shares were sold at an average price of $237.94, for a total value of $3,023,503.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Lloyd C. Blankfein sold 20,794 shares of Goldman Sachs Group stock in a transaction dated Tuesday, November 21st. The shares were sold at an average price of $181.19, for a total transaction of $905,950.00. The disclosure for this sale can be found here. First National Bank Of Omaha sold 7,268 shares as the company's stock rose 10.88% with the market.

Sales of the current generation of the company's flagship iPhone product will be "good", but "good" just does not cut it for a stock with a stratospheric valuation.

Institutional investors and hedge funds have recently made changes to their positions in the company. Oppenheimer Asset Management Inc. now owns 3,245 shares of the investment management company's stock worth $720,000 after buying an additional 9 shares during the period. The Manufacturers Life Insurance Company lifted its stake in shares of Goldman Sachs Group by 47.1% during the 2nd quarter. Foundry Partners LLC now owns 96,185 shares of the investment management company's stock worth $15,512,000 after buying an additional 8,079 shares during the period. (NYSE:GS). Moreover, Braun Stacey Assoc Inc has 1.06% invested in The Goldman Sachs Group, Inc. Capital World Investors now owns 7,649,583 shares of the investment management company's stock worth $1,697,442,000 after buying an additional 726,582 shares during the last quarter. (NYSE:GS). Wright Serv holds 0.12% of its portfolio in The Goldman Sachs Group, Inc.

Goldman joins other Wall Street banks that have taken big charges because of the new tax law. Goldman Sachs Group Inc. had 90 analyst reports since July 21, 2015 according to SRatingsIntel.

Goldman Sachs Group (GS) Upgraded to Buy at Vertical Group