Financial services major Goldman Sachs (NYSE:GS) has delivered a mixed set of third-quarter numbers with EPS of $5.47, missing expectations by $0.05. Revenue rose by 8% sequentially to $11.82 billion, landing better than estimates by nearly $700 million.
Driven by gains in fixed income and currency and commodities (FICC), net revenue in Global Banking and Markets rose by 11% sequentially to $8.01 billion. Further, record management and other fees helped drive net revenue in the Asset and wealth Management vertical by 6% sequentially to $3.23 billion. Assets Under supervision at the end of the quarter stood at $2.68 trillion.
During the quarter, the company repurchased shares worth $1.50 billion and announced a dividend of $2.75 per share. The GS dividend is payable on December 28 to investors of record on November 30.
What Is the Target Price for GS?
Overall, the Street has a Strong Buy consensus rating on Goldman Sachs. The average GS price target of $393.50 implies a 25.2% potential upside.
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