Goldman Sachs Group Inc (GS) reported quarterly earnings results on Tuesday, Jul-19-2016. The company said it had a profit of $3.72 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.67. Analysts had a consensus of $3.05. The company posted revenue of $7932.00 million in the period, compared to analysts expectations of $7484.56 million. The company’s revenue was down -12.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $4.75 EPS.
Many Wall Street Analysts have commented on Goldman Sachs Group Inc. Berenberg Initiated Goldman Sachs Group Inc on Jul 13, 2016 to “Hold”, Price Target of the shares are set at $140.
Goldman Sachs Group Inc opened for trading at $162.36 and hit $164.09 on the upside on Monday, eventually ending the session at $163.33, with a gain of 1.05% or 1.69 points. The heightened volatility saw the trading volume jump to 47,34,502 shares. Company has a market cap of $67,846 M.
In a different news, on Apr 22, 2016, Sarah G Smith (Principal Accounting Officer) sold 2,664 shares at $162.00 per share price. According to the SEC, on Nov 25, 2015, Gary D Cohn (President and COO) sold 39,290 shares at $189.15 per share price. On Nov 25, 2015, Gregory K Palm (Executive VP – General Counsel) sold 31,103 shares at $189.15 per share price, according to the Form-4 filing with the securities and exchange commission.
The Goldman Sachs Group Inc. is a bank holding company and a financial holding company. The Company is a global investment banking securities and investment management company that provides a range of financial services to a diversified client base that include corporations financial institutions Governments and individuals. The Company has four business segments. The Investment Banking segments services include strategic advisory assignments and debt and equity underwriting of public offerings and private placements. Its Institutional Client Services segment makes markets and facilitates client transactions in fixed income equity currency and commodity products. Its investing and lending activities include the Companys investing and relationship lending activities across various asset classes primarily debt securities and loans public and private equity securities and real estate. Its investment management segment provides investment and wealth advisory services.