TheStreet Downgrades Goldman Sachs Group (GS) to C

TheStreet downgraded shares of Goldman Sachs Group (NYSE:GS) from a b- rating to a c rating in a report released on Monday, TheStreetRatingsTable reports.

GS has been the subject of several other research reports. Morgan Stanley upped their price objective on shares of Goldman Sachs Group from $207.00 to $218.00 and gave the stock an equal weight rating in a research report on Tuesday, April 16th. Odeon Capital Group raised shares of Goldman Sachs Group from a sell rating to a hold rating in a research report on Wednesday, April 17th. ValuEngine raised shares of Goldman Sachs Group from a strong sell rating to a sell rating in a report on Wednesday, May 1st. Zacks Investment Research cut shares of Goldman Sachs Group from a hold rating to a sell rating in a report on Tuesday, April 2nd. Finally, HSBC set a $202.00 target price on shares of Goldman Sachs Group and gave the stock a neutral rating in a report on Thursday, April 4th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and five have issued a buy rating to the stock. The stock presently has a consensus rating of Hold and an average price target of $239.91.

GS opened at $199.14 on Monday. Goldman Sachs Group has a twelve month low of $151.70 and a twelve month high of $245.08. The company has a debt-to-equity ratio of 2.84, a current ratio of 0.86 and a quick ratio of 0.86. The stock has a market cap of $71.33 billion, a P/E ratio of 7.88, a PEG ratio of 1.25 and a beta of 1.24.

Goldman Sachs Group (NYSE:GS) last posted its quarterly earnings data on Monday, April 15th. The investment management company reported $5.71 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $4.74 by $0.97. Goldman Sachs Group had a net margin of 25.13% and a return on equity of 12.79%. The business had revenue of $8.81 billion during the quarter, compared to analysts’ expectations of $8.89 billion. During the same quarter in the prior year, the business posted $6.95 earnings per share. Goldman Sachs Group’s revenue was down 12.6% compared to the same quarter last year. As a group, analysts anticipate that Goldman Sachs Group will post 23.18 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 27th. Shareholders of record on Thursday, May 30th will be given a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a yield of 1.71%. The ex-dividend date is Wednesday, May 29th. This is an increase from Goldman Sachs Group’s previous quarterly dividend of $0.80. Goldman Sachs Group’s dividend payout ratio is currently 12.66%.

In other Goldman Sachs Group news, EVP Dane E. Holmes sold 1,489 shares of the stock in a transaction that occurred on Wednesday, February 20th. The shares were sold at an average price of $198.31, for a total transaction of $295,283.59. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.41% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in GS. Horizon Investments LLC bought a new position in shares of Goldman Sachs Group in the 1st quarter worth $262,000. FMR LLC lifted its holdings in shares of Goldman Sachs Group by 3.3% in the 1st quarter. FMR LLC now owns 2,202,807 shares of the investment management company’s stock worth $422,917,000 after purchasing an additional 71,365 shares in the last quarter. BlueMountain Capital Management LLC lifted its holdings in shares of Goldman Sachs Group by 5,793.4% in the 1st quarter. BlueMountain Capital Management LLC now owns 44,377 shares of the investment management company’s stock worth $8,520,000 after purchasing an additional 43,624 shares in the last quarter. Kore Private Wealth LLC bought a new position in shares of Goldman Sachs Group in the 1st quarter worth $399,000. Finally, IHT Wealth Management LLC lifted its holdings in shares of Goldman Sachs Group by 5.5% in the 1st quarter. IHT Wealth Management LLC now owns 1,660 shares of the investment management company’s stock worth $319,000 after purchasing an additional 86 shares in the last quarter. 69.93% of the stock is owned by institutional investors and hedge funds.

Goldman Sachs Group Company Profile

The Goldman Sachs Group, Inc operates as an investment banking, securities, and investment management company worldwide. It operates in 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.

Further Reading: Fundamental Analysis and Individual Investors

Analyst Recommendations for Goldman Sachs Group (NYSE:GS)

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