Credit Suisse Group Downgrades Goldman Sachs Group, Inc. (The) (GS) to Neutral

Goldman Sachs Group, Inc. (The) (NYSE:GS) was downgraded by research analysts at Credit Suisse Group from an “outperform” rating to a “neutral” rating in a research report issued on Monday. They currently have a $255.00 price objective on the investment management company’s stock, up from their prior price objective of $240.00. Credit Suisse Group’s target price indicates a potential upside of 5.11% from the company’s previous close. The analysts noted that the move was a valuation call.

Several other equities research analysts also recently commented on the stock. Deutsche Bank AG restated a “buy” rating on shares of Goldman Sachs Group, Inc. (The) in a research report on Monday, July 3rd. Citigroup Inc. restated a “neutral” rating and issued a $225.00 price target on shares of Goldman Sachs Group, Inc. (The) in a research report on Wednesday, June 28th. BidaskClub downgraded shares of Goldman Sachs Group, Inc. (The) from a “hold” rating to a “sell” rating in a research report on Tuesday, July 25th. Royal Bank Of Canada restated a “hold” rating and issued a $240.00 price target on shares of Goldman Sachs Group, Inc. (The) in a research report on Thursday, August 31st. Finally, Capital One Financial Corporation restated a “buy” rating on shares of Goldman Sachs Group, Inc. (The) in a research report on Tuesday, July 11th. Two analysts have rated the stock with a sell rating, eighteen have given a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $240.09.

Goldman Sachs Group, Inc. (GS) opened at 242.60 on Monday. The firm has a market capitalization of $94.18 billion, a P/E ratio of 12.72 and a beta of 1.41. The company’s 50 day moving average price is $229.02 and its 200 day moving average price is $225.02. Goldman Sachs Group, Inc. has a 12 month low of $165.51 and a 12 month high of $255.15.

Goldman Sachs Group, Inc. (The) (NYSE:GS) last issued its earnings results on Tuesday, July 18th. The investment management company reported $3.95 earnings per share for the quarter, topping the Zacks’ consensus estimate of $3.39 by $0.56. The firm had revenue of $7.89 billion during the quarter, compared to analysts’ expectations of $7.47 billion. Goldman Sachs Group, Inc. (The) had a net margin of 26.44% and a return on equity of 11.27%. The firm’s revenue for the quarter was down .6% compared to the same quarter last year. During the same period last year, the firm posted $3.72 earnings per share. Analysts anticipate that Goldman Sachs Group, Inc. will post $18.17 EPS for the current year.

TRADEMARK VIOLATION WARNING: “Credit Suisse Group Downgrades Goldman Sachs Group, Inc. (The) (GS) to Neutral” was first posted by The Ledger Gazette and is owned by of The Ledger Gazette. If you are accessing this piece on another website, it was illegally stolen and reposted in violation of US and international copyright & trademark laws. The legal version of this piece can be accessed at https://ledgergazette.com/2017/10/11/credit-suisse-group-downgrades-goldman-sachs-group-inc-the-gs-to-neutral.html.

In related news, EVP John F.W. Rogers sold 17,685 shares of the firm’s stock in a transaction on Tuesday, August 8th. The shares were sold at an average price of $235.02, for a total value of $4,156,328.70. Following the transaction, the executive vice president now directly owns 80,109 shares in the company, valued at approximately $18,827,217.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider David M. Solomon sold 3,260 shares of the firm’s stock in a transaction on Monday, August 7th. The shares were sold at an average price of $231.59, for a total transaction of $754,983.40. Following the completion of the transaction, the insider now owns 177,594 shares in the company, valued at $41,128,994.46. The disclosure for this sale can be found here. Insiders sold a total of 25,535 shares of company stock worth $5,956,868 over the last quarter. 2.57% of the stock is currently owned by company insiders.

A number of large investors have recently bought and sold shares of the stock. Fulton Bank N.A. grew its stake in Goldman Sachs Group, Inc. (The) by 8.3% in the 3rd quarter. Fulton Bank N.A. now owns 8,534 shares of the investment management company’s stock valued at $2,024,000 after buying an additional 652 shares during the last quarter. Eqis Capital Management Inc. grew its stake in Goldman Sachs Group, Inc. (The) by 18.0% in the 3rd quarter. Eqis Capital Management Inc. now owns 2,112 shares of the investment management company’s stock valued at $501,000 after buying an additional 322 shares during the last quarter. Perpetual Ltd acquired a new position in Goldman Sachs Group, Inc. (The) in the 2nd quarter valued at $466,000. Gs Investments Inc. acquired a new position in Goldman Sachs Group, Inc. (The) in the 2nd quarter valued at $111,000. Finally, Achmea Investment Management B.V. grew its stake in Goldman Sachs Group, Inc. (The) by 57.1% in the 2nd quarter. Achmea Investment Manageme

Several other equities research analysts also recently commented on the stock. Deutsche Bank AG restated a “buy” rating on shares of Goldman Sachs Group, Inc. (The) in a research report on Monday, July 3rd. Citigroup Inc. restated a “neutral” rating and issued a $225.00 price target on shares of Goldman Sachs Group, Inc. (The) in a research report on Wednesday, June 28th. BidaskClub downgraded shares of Goldman Sachs Group, Inc. (The) from a “hold” rating to a “sell” rating in a research report on Tuesday, July 25th. Royal Bank Of Canada restated a “hold” rating and issued a $240.00 price target on shares of Goldman Sachs Group, Inc. (The) in a research report on Thursday, August 31st. Finally, Capital One Financial Corporation restated a “buy” rating on shares of Goldman Sachs Group, Inc. (The) in a research report on Tuesday, July 11th. Two analysts have rated the stock with a sell rating, eighteen have given a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $240.09.

Goldman Sachs Group, Inc. (GS) opened at 242.60 on Monday. The firm has a market capitalization of $94.18 billion, a P/E ratio of 12.72 and a beta of 1.41. The company’s 50 day moving average price is $229.02 and its 200 day moving average price is $225.02. Goldman Sachs Group, Inc. has a 12 month low of $165.51 and a 12 month high of $255.15.

Goldman Sachs Group, Inc. (The) (NYSE:GS) last issued its earnings results on Tuesday, July 18th. The investment management company reported $3.95 earnings per share for the quarter, topping the Zacks’ consensus estimate of $3.39 by $0.56. The firm had revenue of $7.89 billion during the quarter, compared to analysts’ expectations of $7.47 billion. Goldman Sachs Group, Inc. (The) had a net margin of 26.44% and a return on equity of 11.27%. The firm’s revenue for the quarter was down .6% compared to the same quarter last year. During the same period last year, the firm posted $3.72 earnings per share. Analysts anticipate that Goldman Sachs Group, Inc. will post $18.17 EPS for the current year.

TRADEMARK VIOLATION WARNING: “Credit Suisse Group Downgrades Goldman Sachs Group, Inc. (The) (GS) to Neutral” was first posted by The Ledger Gazette and is owned by of The Ledger Gazette. If you are accessing this piece on another website, it was illegally stolen and reposted in violation of US and international copyright & trademark laws. The legal version of this piece can be accessed at https://ledgergazette.com/2017/10/11/credit-suisse-group-downgrades-goldman-sachs-group-inc-the-gs-to-neutral.html.

In related news, EVP John F.W. Rogers sold 17,685 shares of the firm’s stock in a transaction on Tuesday, August 8th. The shares were sold at an average price of $235.02, for a total value of $4,156,328.70. Following the transaction, the executive vice president now directly owns 80,109 shares in the company, valued at approximately $18,827,217.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider David M. Solomon sold 3,260 shares of the firm’s stock in a transaction on Monday, August 7th. The shares were sold at an average price of $231.59, for a total transaction of $754,983.40. Following the completion of the transaction, the insider now owns 177,594 shares in the company, valued at $41,128,994.46. The disclosure for this sale can be found here. Insiders sold a total of 25,535 shares of company stock worth $5,956,868 over the last quarter. 2.57% of the stock is currently owned by company insiders.

A number of large investors have recently bought and sold shares of the stock. Fulton Bank N.A. grew its stake in Goldman Sachs Group, Inc. (The) by 8.3% in the 3rd quarter. Fulton Bank N.A. now owns 8,534 shares of the investment management company’s stock valued at $2,024,000 after buying an additional 652 shares during the last quarter. Eqis Capital Management Inc. grew its stake in Goldman Sachs Group, Inc. (The) by 18.0% in the 3rd quarter. Eqis Capital Management Inc. now owns 2,112 shares of the investment management company’s stock valued at $501,000 after buying an additional 322 shares during the last quarter. Perpetual Ltd acquired a new position in Goldman Sachs Group, Inc. (The) in the 2nd quarter valued at $466,000. Gs Investments Inc. acquired a new position in Goldman Sachs Group, Inc. (The) in the 2nd quarter valued at $111,000. Finally, Achmea Investment Management B.V. grew its stake in Goldman Sachs Group, Inc. (The) by 57.1% in the 2nd quarter. Achmea Investment Management B.V. now owns 29,218 shares of the investment management company’s stock valued at $6,481,000 after buying an additional 10,618 shares during the last quarter. Institutional investors and hedge funds own 73.31% of the company’s stock.

About Goldman Sachs Group, Inc. (The)

The Goldman Sachs Group, Inc is an investment banking, securities and investment management company that provides a range of financial services to corporations, financial institutions, governments and individuals. The Company operates in four business segments: Investment Banking, Institutional Client Services, Investing & Lending, and Investment Management.

Analyst Recommendations for Goldman Sachs Group, Inc. (The) (NYSE:GS)

Receive News & Ratings for Goldman Sachs Group Inc. (The) Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Goldman Sachs Group Inc. (The) and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply