BMO Capital Markets Issues Pessimistic Forecast for The Goldman Sachs Group (NYSE:GS) Stock Price

Key Points

• BMO Capital Markets lowered its Goldman Sachs price target slightly from $972 to $970 while maintaining a “market perform” rating, implying roughly 8.6% upside from the stock’s $893.52 opening price.
• Analyst sentiment is broadly neutral: GS has a consensus “Hold” rating from 23 analysts, with a consensus target price of $1,055.60. UBS also reduced its target to $1,010 and kept a “Neutral” rating.
• Goldman Sachs recently exceeded quarterly expectations, reporting $20.98 in EPS versus $14.47 expected and $20.34 billion in revenue versus $16.22 billion forecast; institutional investors own approximately 71.21% of the company’s shares.

The Goldman Sachs Group (NYSE:GS - Get Free Report) had its target price reduced by investment analysts at BMO Capital Markets from $972.00 to $970.00 in a report released on Tuesday, Benzinga reports. The brokerage presently has a "market perform" rating on the investment management company's stock. BMO Capital Markets' price objective points to a potential upside of 8.56% from the stock's current price.

Several other equities research analysts have also commented on GS. UBS Group cut their price target on shares of The Goldman Sachs Group from $1,150.00 to $1,010.00 and set a "neutral" rating for the company in a report on Monday. Wall Street Zen lowered shares of The Goldman Sachs Group from a "buy" rating to a "hold" rating in a research report on Sunday, September 13th. Weiss Ratings raised shares of The Goldman Sachs Group from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Friday, September 25th. Evercore reissued an "outperform" rating on shares of The Goldman Sachs Group in a report on Monday, July 6th. Finally, Jefferies Financial Group set a $1,299.00 target price on shares of The Goldman Sachs Group in a research report on Wednesday, July 15th. Ten analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $1,055.60.

The Goldman Sachs Group Trading Down 1.0%

GS stock opened at $893.52 on Tuesday. The company's 50-day simple moving average is $1,000.26 and its 200-day simple moving average is $986.21. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 3.17. The Goldman Sachs Group has a 52-week low of $740.01 and a 52-week high of $1,153.99. The firm has a market cap of $260.17 billion, a P/E ratio of 13.79, a PEG ratio of 0.93 and a beta of 1.29.

The Goldman Sachs Group (NYSE:GS - Get Free Report) last posted its quarterly earnings data on Tuesday, July 14th. The investment management company reported $20.98 EPS for the quarter, beating analysts' consensus estimates of $14.47 by $6.51. The business had revenue of $20.34 billion during the quarter, compared to analysts' expectations of $16.22 billion. The Goldman Sachs Group had a return on equity of 19.16% and a net margin of 15.53%.The business's revenue was up 39.4% compared to the same quarter last year. During the same period in the previous year, the business earned $10.91 earnings per share. As a group, equities analysts forecast that The Goldman Sachs Group will post 68.4 EPS for the current fiscal year.

Hedge Funds Weigh In On The Goldman Sachs Group

A number of institutional investors have recently bought and sold shares of the company. BlackRock Inc. acquired a new position in The Goldman Sachs Group in the second quarter valued at approximately $24,172,123,000. State Street Corp raised its position in The Goldman Sachs Group by 2.1% in the fourth quarter. State Street Corp now owns 19,564,783 shares of the investment management company's stock valued at $17,197,444,000 after purchasing an additional 394,198 shares during the period. Bank of America Corp DE acquired a new position in shares of The Goldman Sachs Group in the 2nd quarter valued at $6,756,772,000. Orange County Employees Retirement System acquired a new stake in shares of The Goldman Sachs Group during the 2nd quarter worth about $69,537,544,000. Finally, Corient Private Wealth LLC raised its holdings in The Goldman Sachs Group by 1,657.7% in the 4th quarter. Corient Private Wealth LLC now owns 2,596,487 shares of the investment management company's stock valued at $2,282,312,000 after buying an additional 2,448,767 shares during the period. 71.21% of the stock is owned by hedge funds and other institutional investors.

The Goldman Sachs Group News Roundup

Here are the key news stories impacting The Goldman Sachs Group this week:

• Positive Sentiment: Goldman Sachs’ hedge-fund research team remains bullish on U.S. equities, forecasting a potential record high for the S&P 500 by year-end. Stronger equity markets could support Goldman’s investment-banking, trading, and asset-management businesses. The S&P 500 is facing rate chaos and narrow breadth
• Neutral Sentiment: The company is expected to report quarterly results soon, making the upcoming earnings release a near-term catalyst. Investors will likely focus on trading activity, deal volume, investment-banking fees, and updated guidance. The Goldman Sachs Group Projected to Release Earnings
• Negative Sentiment: UBS lowered its price target on GS from $1,150 to $1,010 and maintained a Neutral rating. Although the revised target still implies potential upside, the reduction signals more cautious expectations for valuation and earnings growth. Goldman Sachs price target lowered by UBS
• Negative Sentiment: Citigroup reportedly overtook Goldman Sachs as the leading global IPO underwriter through September after securing several major listings. Losing the top ranking may raise concerns about Goldman’s share of lucrative equity-capital-markets business, even though the overall IPO environment remains active. Citi overtakes Goldman Sachs in global IPO underwriting
• Negative Sentiment: Goldman’s warnings that higher interest rates could intensify pressure on the U.S. government’s debt burden add to concerns about rate volatility and economic stress. Those conditions can weigh on market valuations and transaction activity. Rising interest rates and America’s debt pile

The Goldman Sachs Group Company Profile

The Goldman Sachs Group, Inc is a global financial services company headquartered in New York City. Founded in 1869, the firm provides services to corporations, financial institutions, governments, individuals and other clients through its investment banking, markets, asset management and wealth management businesses.

Goldman Sachs advises clients on mergers and acquisitions, financing and other strategic transactions, and facilitates trading in equities, fixed income, currencies and commodities.

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