Goldman Sachs Group, Inc. (GS) is a leading global investment banking firm whose activities are organized into investment banking, global markets, asset management, and consumer and wealth management segments.
The company saw increased earnings and revenue backed by its underwriting business, lower provisions, and escalated costs. It should see further gains as M&A activity picks up. Goldman’s business diversification, cost management initiatives, and strong liquidity should keep the company going during the current economic downturn.
Sales are expected to be up 14.78% for the year, while earnings are expected to soar 27.83% next year. GS had $153 billion in cash at the end of the last quarter and a current ratio of 1.81. The stock is undervalued with a trailing P/E of 11.59.
GS has shown recent bullish momentum, but is down 10.8% year to date. This has led a “Neutral” rating in our POWR Ratings system.
Take a look at the 1-year chart of GS below with added notations…
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