The Goldman Sachs Group (NYSE:GS) Issues Quarterly Earnings Results, Beats Expectations By $1.09 EPS

The Goldman Sachs Group (NYSE:GS - Get Free Report) released its earnings results on Wednesday. The investment management company reported $10.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $9.82 by $1.09, Zacks reports. The firm had revenue of $14.58 billion during the quarter, compared to analyst estimates of $13.53 billion. The Goldman Sachs Group had a net margin of 11.86% and a return on equity of 13.76%. The business's revenue was up 14.5% on a year-over-year basis. During the same quarter last year, the business earned $8.62 EPS.

The Goldman Sachs Group Price Performance

Shares of GS traded up $5.33 during trading hours on Wednesday, reaching $707.84. 3,319,797 shares of the company's stock traded hands, compared to its average volume of 2,378,009. The Goldman Sachs Group has a 12 month low of $437.37 and a 12 month high of $726.00. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 2.41. The stock has a market cap of $217.19 billion, a PE ratio of 16.43, a price-to-earnings-growth ratio of 0.96 and a beta of 1.35. The firm's 50 day simple moving average is $638.26 and its 200-day simple moving average is $598.28.

Hedge Funds Weigh In On The Goldman Sachs Group

An institutional investor recently raised its position in The Goldman Sachs Group stock. Revolve Wealth Partners LLC boosted its position in shares of The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) by 7.0% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 888 shares of the investment management company's stock after buying an additional 58 shares during the quarter. Revolve Wealth Partners LLC's holdings in The Goldman Sachs Group were worth $508,000 as of its most recent filing with the Securities & Exchange Commission. Institutional investors and hedge funds own 71.21% of the company's stock.

Analysts Set New Price Targets

GS has been the topic of a number of recent analyst reports. JMP Securities restated a "market perform" rating and set a $600.00 price target on shares of The Goldman Sachs Group in a research note on Monday. Daiwa Capital Markets lowered The Goldman Sachs Group from an "outperform" rating to a "neutral" rating and set a $560.00 price objective on the stock. in a report on Friday, April 4th. Oppenheimer downgraded shares of The Goldman Sachs Group from an "outperform" rating to a "market perform" rating in a research note on Wednesday, March 19th. JPMorgan Chase & Co. lowered their target price on The Goldman Sachs Group from $625.00 to $614.00 and set an "overweight" rating for the company in a report on Thursday, April 3rd. Finally, Wall Street Zen upgraded shares of The Goldman Sachs Group from a "sell" rating to a "hold" rating in a research note on Saturday. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat.com, The Goldman Sachs Group presently has an average rating of "Hold" and an average target price of $614.00.

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.