Key Stats for Goldman Sachs Stock
- Price change for Goldman Sachs stock in last 6 months: -2%
- $GS Stock Price as of Oct. 13: $892
- 52-Week High: $1154
- $GS Stock Price Target: $1069
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What Happened?
Goldman Sachs (GS) beat Q3 profit estimates on Tuesday.
- It reported EPS of $17.01 per share, above the $13.02 estimate. A year ago, it reported earnings of $12.25 per share.
- Net revenue rose 23% to $18.68 billion, the bank’s second-highest in history.
- The bank reported a net income of $5.29 billion.
Trading was the key driver, with equities revenue jumping 72% to $6.44 billion. Volatile markets pushed investors to reshuffle their portfolios.
Equities financing hit a record. Fixed income was softer. Revenue was $3.47 billion, down 1% from last year.
Investment banking held up well, with fees up 21% to $3.22 billion, and advisory revenue hit a record.
Asset and wealth management also grew. Revenue rose 14%, management fees hit a record $3.6 billion, and assets under supervision reached $4.1 trillion.
The bank made a charitable contribution of about $450 million in the quarter. CFO Denis Coleman said it cost roughly $1 per share. Without it, EPS would have been about $18.
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What the Market Is Telling Us About Goldman Sachs Stock
One analyst said investment banking was a clear beat and pointed to a strong deal pipeline. CEO David Solomon said the pipeline is robust despite rate swings.
One strategist warned that high rates could slow IPOs in coming quarters.
He also said trading fees may cool once investors finish repositioning, while global M&A activity fell 41% from the prior quarter.
Solomon addressed a report that he could step down as CEO and said no succession plan or timeline is underway.
The bank bought back $3 billion of stock in the quarter. Its dividend is now $5 per share, up 25% from a year ago.
For now, strong trading and a healthy deal pipeline support Goldman Sachs stock. The next test is whether higher rates slow dealmaking in Q4.
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So what is Goldman Sachs stock actually worth?
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Disclaimer:
Please note that the articles on TIKR are not intended to serve as investment or financial advice from TIKR or our content team, nor are they recommendations to buy or sell any stocks. We create our content based on TIKR Terminal’s investment data and analysts’ estimates. Our analysis might not include recent company news or important updates. TIKR has no position in any stocks mentioned. Thank you for reading, and happy investing!
