Goldman Sachs Stock Rating Reaffirmed by Zacks (GS)

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Goldman Sachs (NYSE:GS)‘s stock had its “neutral” rating reaffirmed by Zacks in a note issued to investors on Wednesday, Analyst Ratings Network.com reports. They currently have a $177.00 price objective on the stock. Zacks‘s price target would indicate a potential upside of 1.57% from the stock’s previous close.

Zacks’ analyst wrote, “Goldman’s fourth-quarter 2013 earnings significantly outpaced the Zacks Consensus Estimate. However, the reported earnings lagged the prior-year quarter earnings. Increased operating expenses reflected undisciplined expense management. However, the company’s strong equity underwriting revenues and steady capital deployment activities were the positives. We anticipate Goldman to benefit from its well-managed global franchise, strong capital base and recent investments. Moreover, Fed’s approval to its re-submitted capital plan in 2013 depicts financial stability. However, regulatory issues coupled with fundamental pressures on the banking sector are expected to dent its financials in the upcoming quarters. “

In other Goldman Sachs news, EVP Edith Cooper sold 13,297 shares of Goldman Sachs stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $166.39, for a total transaction of $2,212,487.83. Following the transaction, the executive vice president now directly owns 58,873 shares in the company, valued at approximately $9,795,878. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

Shares of Goldman Sachs (NYSE:GS) traded up 0.96% on Wednesday, hitting $174.26. The stock had a trading volume of 4,088,909 shares. Goldman Sachs has a one year low of $137.29 and a one year high of $181.13. The stock has a 50-day moving average of $165.9 and a 200-day moving average of $165.1. The company has a market cap of $81.442 billion and a price-to-earnings ratio of 11.16. Goldman Sachs also was the target of unusually large options trading activity on Wednesday. Stock investors purchased 27,499 call options on the stock. This represents an increase of approximately 132% compared to the typical daily volume of 11,848 call options.

Goldman Sachs (NYSE:GS) last released its earnings data on Wednesday, January 15th. The company reported $4.60 EPS for the quarter, beating the Thomson Reuters consensus estimate of $4.18 by $0.42. The company had revenue of $8.78 billion for the quarter, compared to the consensus estimate of $7.62 billion. During the same quarter in the prior year, the company posted $5.60 earnings per share. The company’s quarterly revenue was down 4.9% on a year-over-year basis. On average, analysts predict that Goldman Sachs will post $15.73 earnings per share for the current fiscal year.

GS has been the subject of a number of other recent research reports. Analysts at TheStreet reiterated a “buy” rating on shares of Goldman Sachs in a research note on Monday, February 24th. Finally, analysts at Guggenheim upgraded shares of Goldman Sachs from a “neutral” rating to a “buy” rating in a research note on Monday, February 3rd. One analyst has rated the stock with a sell rating, sixteen have given a hold rating and six have assigned a buy rating to the stock. Goldman Sachs has an average rating of “Hold” and a consensus price target of $167.32.

The Goldman Sachs Group, Inc (NYSE:GS), is a global investment banking, securities and investment management firm that provides a range of financial services to a substantial and diversified client base that includes corporations, financial institutions, governments and high-net-worth individuals.

To view Zacks’ full report, visit Zacks’ official website.

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