Stocks Analysis by ValueWalk (Dave Kovaleski) covering: Goldman Sachs Group Inc. Read ValueWalk (Dave Kovaleski)'s latest article on Investing.com
The firm got a lift from rising investment banking revenue.reported healthy third-quarter earnings Tuesday, led by significant gains in investment banking.
Goldman Sachs’ stock was up about 3% in pre-market trading but then flattened out after the markets opened. As of 10:30 a.m. ET it was trading at just over $518 per share, down about 1% for the day. The stock price has gained approximately 34% year-to-date. In Q3, its Global Banking and Markets division saw revenue climb 12% year over year to $26.5 billion, but drilling down a bit within this segment, its investment banking fees soared 24% to $5.7 billion. Debt underwriting rose 41% year over year while equity underwriting surged 31%.
The strong bottom-line results, showing a 54% increase in earnings per share to $8.40 per share, were aided not only by higher revenue, but lower operating expenses. Goldman Sachs stock remains a pretty good value, with a forward P/E ratio of just 13. Market analysts rate it as a consensus buy, but its median price target of $522 per share suggests just a 5% increase.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Why Investors View Elections, Geopolitical Risks as Top ConcernsMarket Overview Analysis by ValueWalk (Dave Kovaleski) covering: . Read ValueWalk (Dave Kovaleski)'s latest article on Investing.com
Read more »
Berkshire Hathaway: The Most Consistent Stock on the MarketStocks Analysis by ValueWalk (Dave Kovaleski) covering: Dow Jones Industrial Average, NASDAQ Composite, Berkshire Hathaway Inc Class A. Read ValueWalk (Dave Kovaleski)'s latest article on Investing.com
Read more »
Darden Restaurants Stock Climbed 7%: Time to Buy?Stocks Analysis by ValueWalk (Dave Kovaleski) covering: Darden Restaurants Inc. Read ValueWalk (Dave Kovaleski)'s latest article on Investing.com
Read more »
Lennar Stock Is up 24% YTD: Does It Still Have Room to Run?Stocks Analysis by ValueWalk (Dave Kovaleski) covering: Lennar Corporation. Read ValueWalk (Dave Kovaleski)'s latest article on Investing.com
Read more »
What’s in Store for Q3 Earnings? 4 Things to ExpectStocks Analysis by ValueWalk (Dave Kovaleski) covering: Eli Lilly and Company, Alphabet Inc Class A, NVIDIA Corporation, Pfizer Inc. Read ValueWalk (Dave Kovaleski)'s latest article on Investing.com
Read more »
Why Fed's Bowman Preferred a Smaller Rate CutMarket Overview Analysis by ValueWalk (Dave Kovaleski) covering: . Read ValueWalk (Dave Kovaleski)'s latest article on Investing.com
Read more »