Goldman Sachs Stock (GS) is higher today thanks to excellent earnings reported this morning. Revenue grew 26.71% year-over-year. They reported earnings of $11.58 a share on $32.16 billion. This easily beat estimates of $8.54 per share on expected revenue of $12.92 billion. For the same quarter last year Goldman Sachs reported $8.79 a share on $12.2 billion of revenue.
The stock is trading at 17.7 price to earnings with an $11.00 dividend yielding 2.72%. The stock could push back to its 52 week high of $419.20 made on March 28 but upside could be limited much beyond $425. The stock is not expensive but it is not cheap either especially in relation to its peers.
I placed one trade today as discussed in the morning Investing Strategy Notes. The trade alert provides the details and additional comments.
This trade alert and ideas article is for FullyInformed Members.
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