Goldman Sachs (GS) Stock Sinks on Layoff News

By Ken Smith • Friday, December 16 15:04 • Permanent Link

GS investors were likely spooked this afternoon by Barrons's report: "Goldman Sachs Plans to Trim Several Thousand Jobs ..." For more coverage, read the full article here. On the back of this news, Goldman Sachs sank -1.2% to a price of $345.48.

The Goldman Sachs Group, Inc., a financial institution, provides a range of financial services for corporations, financial institutions, governments, and individuals worldwide. The company belongs to the Financial Services sector, which has an average price to earnings (P/E) ratio of 13.34 and an average price to book (P/B) ratio of 1.95. In contrast, Goldman Sachs has a trailing 12 month P/E ratio of 8.6 and a P/B ratio of 1.4.

At today's price of $345.48 per share, Goldman Sachs is -10.0% away from its target price of $383.86, and on average, analysts give the stock a rating of buy. 1.5% of the company's shares are linked to short positions, and 70.7% of the shares are owned by institutional investors.

The above analysis is intended for educational purposes only and was performed on the basis of publicly available data. It is not to be construed as a recommendation to buy or sell any security. Any buy, sell, or other recommendations mentioned in the article are direct quotations of consensus recommendations from the analysts covering the stock, and do not represent the opinions of Market Inference or its writers. Past performance, accounting data, and inferences about market position and corporate valuation are not reliable indicators of future price movements. Market Inference does not provide financial advice. Investors should conduct their own review and analysis of any company of interest before making an investment decision.