Goldman Sachs Group Inc (NYSE:GS): Continue to Grow

[Reuters] Goldman Sachs Group Inc (NYSE:GS)(TREND ANALYSISThe outcome of a two-and-a-half-year legal battle between Goldman Sachs and Libya’s $67 billion sovereign fund is a triumph for the Wall Street giant, which was vindicated despite embarrassing revelations about how some of its bankers conducted business.

The London High Court found in favour of Goldman Sachs on Friday, with Judge Vivien Rose dismissing the fund’s arguments, made over the course of a bruising seven-week trial.

While the Libyan Investment Authority (LIA) is likely to appeal, according to a source with knowledge of the matter, the lurid details spilling out of the case mesmerised observers because of the profile of the parties involved and the glimpse they offered into the secretive world of multi-billion-dollar sovereign wealth fund (SWF) investments.

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Goldman Sachs Group Inc (NYSE:GS) stock is currently trading 14.7% below its 52-week-high, 23.39% above its 52-week-low. The 1-year stock price history is in the range of $138.2 – $199.9. Goldman Sachs Group Inc (GS) has a price to earnings ratio of 16.16 versus Financial sector average of 15.9. GS stock price has underperformed the S&P 500 by 10.4%. The Diversified Banking Services company is currently valued at $72.71 billion, and its share price closed the last trading session at $170.52. The stock has a 50-day moving average of $166.91 and a 200-day moving average of $159.81.

Goldman Sachs Group Inc (GS) current short interest stands at 5.41 million shares. It has increased by 6% from the same period of last month. Around 2% of the company’s shares, which are float, are short sold. With a 10-days average volume of 3.05 million shares, the number of days required to cover the short positions stand at 1.8 days.

GS is forecasted to report earnings per share of $3.86 and a revenue of $7.55 billion for the 3rd Quarter of the fiscal year 2016. Goldman Sachs Group Inc (GS) expects to post results on October 18. The Diversified Banking Services company announced last quarter earnings per share of $3.72 against a consensus Street estimate of $3.01, beating the average estimate by $0.71. The company posted a revenue of $7.93 billion compared to an estimation of $7.6 billion.

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There are currently twenty-eight analysts that cover Goldman Sachs Group Inc stock. Of those twenty-eight, thirteen have a Buy rating, fourteen have a Hold rating and one has a Sell rating. On a consensus basis this yields to an Overweight rating. The consensus target price stands at $183.38.

A recent analyst activity consisted of Nomura Securities reiterating their Buy stance on July 20. Nomura Securities increased their price target on GS from $195 to $197. This corresponds to a 15.53% upside from the last closing price. On the date of report, the stock closed at $161.14.

BMO Capital reiterated their Outperform stance on the same day, and increased their price target on GS stock from $197 to $214. This corresponds to a 25.5% upside from the last closing price. On the date of report, the stock closed at $161.14.

Another research firm was UBS who reiterated their Buy stance on July 20. UBS decreased price target from $185 to $180. This translates to a 5.56% upside from the last closing price. On the date of report, the stock closed at $161.14.

Company snapshot

The Goldman Sachs Group, Inc., a bank holding company, is a global investment banking and securities firm specializing in investment banking, trading and principal investments, asset management and securities services. The Company provides services to corporations, financial institutions, governments, and high-net worth individuals.

Goldman Sachs Group Inc (NYSE:GS): Continue to Grow was last modified: October 17th, 2016 by Steven Finley