Goldman Sachs' Q3 Report Impresses Analysts With Strong Investment Banking, Trading Revenues
Goldman Sachs' Q3 Report Impresses Analysts With Strong Investment Banking, Trading Revenues
Goldman SachsGoldman Sachs Group Inc (NYSE:GS) reported on Tuesday upbeat earnings for its third quarter.
高盛集團Inc （紐約交易所:GS）週二報告稱，其第三季度盈利喜人。
The company reported its results amid an exciting earnings season. Here are some key analyst takeaways.
公司在一個令人興奮的盈利季節中報告了其業績。以下是一些關鍵的分析師觀點。
Oppenheimer On Goldman Sachs
Oppenheimer關於高盛
Analyst Chris Kotowski reiterated an Outperform rating while raising the price target from $577 to $614.
分析師克里斯·科托夫斯基重申了Outperform評級，將價格目標從577美元上調至614美元。
Goldman Sachs reported earnings of $8.40 per share, beating consensus of $6.89 per share, with core operating earnings of around $9.02 per share, Kotowski said in a note. "This, in turn, would put core ROTCE at ~11.7% for the quarter, which is not bad in that we still see the investment banking environment as pretty weak," he added.
高盛報告每股盈利8.40美元，超過了每股6.89美元的共識，科托夫斯基在一份聲明中表示核心運營收益約爲每股9.02美元。他補充說：「這將使核心ROTC指標在本季度達到約11.7%，考慮到我們仍然認爲投資銀行環境相當疲弱，這並不算糟糕。」
The results were driven mainly by stronger-than-expected investment banking and equity trading revenues, the analyst stated. The bank's total revenues came in at $12.7 billion, up 7.5% year-on-year, Kotowski further said.
該結果主要受到強於預期的投資銀行業務和股票交易收入的推動，該分析師表示。該銀行總收入達到127億美元，同比增長7.5%，科托夫斯基進一步表示。
Check out other analyst stock ratings.
查看其他分析師的股票評級。
RBC Capital Markets On Goldman Sachs
RBC資本市場關於高盛
Analyst Gerard Cassidy maintained a Sector Perform rating while raising the price target from $500 to $558.
分析師傑拉德·卡西迪維持了板塊表現評級，並將價格目標從500美元上調至558美元。
Excluding one-time items, the bank's core earnings are estimated at $9.02 per share, Cassidy said. "Overall, GS posted a strong quarter driven by better-than-expected total revenues and lower-than-expected expenses," he added.
卡西迪表示，除了一次性項目，該銀行的核心收益預計爲9.02美元每股。他補充說：「總體而言，高盛展現出了強勁的季度業績，主要受益於超出預期的總收入和低於預期的支出。」
Goldman Sachs continues to transition away from the consumer banking business and towards its traditional investment banking, equity and FICC trading and wealth/asset management businesses, the analyst stated. "All five banks that reported today recorded larger provisions in the quarter compared to the prior quarter, largely reflecting loan growth and the current economic outlook," he further wrote.
分析師表示，高盛繼續從消費銀行業務轉型，轉向其傳統的投資銀行、股票和固定收益交易以及財富/資產管理業務。他進一步寫道：「今天公佈業績的所有五家銀行在本季度的撥備比上一個季度更大，這主要反映了貸款增長和當前的經濟前景。」
Bank of America On Goldman Sachs
美國銀行關於高盛
Analyst Ebrahim Poonawala reaffirmed a Buy rating while lifting the price target from $563 to $575.
分析師埃布拉欣·普納瓦拉重申了買入評級，並將價格目標從563美元上調至575美元。
The earnings beat was driven by stronger capital market results, with investment banking revenues growing 20% year-on-year versus consensus of 9% and trading revenues up 2% versus Street expectations of an 8% decline. Poonawala said in a note. "The combination of resilient trading revenues (+8% YTD) and rebounding investment banking activity should drive positive EPS revisions," he added.
盈利超出預期主要是由強勁的資本市場業務推動，投資銀行收入同比增長20%，而共識爲9%，交易收入同比增長2%，而街頭預期下滑8%。普納瓦拉在一份聲明中表示：「彈性交易收入（年初至今增長8%）和投資銀行活動的復甦將推動股本每股收益的正面修訂。」
"Given the inherent unpredictability of these revenues, the Street is unlikely to fully reflect this in its EPS forecast," the analyst stated. He added, however, that higher confidence on a recovery in M&As and IPOs "should drive continued investor interest in adding exposure to the stock."
分析師表示：「考慮到這些收入的內在不可預測性，街頭不太可能完全反映在其每股收益預測中。」然而，他補充說，對於M＆A和已上市新股復甦的更高信心「將推動持續投資者加倉該股。」
GS Price Action: Shares of Goldman Sachs had risen by 1% to $527.61 at the time of publication on Wednesday.
高盛股價表現：在週三發佈時，高盛股價上漲了1%，至527.61美元。
Read More:
• Financial Sector Hits Record Highs As Goldman Sachs, Bank of America, Citi Beat Q3 Earnings Expectations
閱讀更多：
• 金融板塊創下歷史新高，高盛、美國銀行、花旗擊敗第三季度盈利預期
Photo: Shutterstock
Photo: shutterstock
譯文內容由第三人軟體翻譯。
