The Goldman Sachs Group, Inc. (NYSE:GS) to Post Q2 2024 Earnings of $8.26 Per Share, Seaport Res Ptn Forecasts

The Goldman Sachs Group, Inc. (NYSE:GS) – Research analysts at Seaport Res Ptn dropped their Q2 2024 earnings estimates for shares of The Goldman Sachs Group in a research report issued on Monday, April 15th. Seaport Res Ptn analyst J. Mitchell now anticipates that the investment management company will earn $8.26 per share for the quarter, down from their previous estimate of $8.42. The consensus estimate for The Goldman Sachs Group’s current full-year earnings is $32.76 per share. Seaport Res Ptn also issued estimates for The Goldman Sachs Group’s Q4 2024 earnings at $7.63 EPS, FY2024 earnings at $36.00 EPS, Q1 2025 earnings at $11.13 EPS, Q3 2025 earnings at $9.59 EPS and Q4 2025 earnings at $8.68 EPS.

A number of other research analysts also recently weighed in on the company. Argus raised The Goldman Sachs Group from a “hold” rating to a “buy” rating and set a $465.00 target price on the stock in a report on Tuesday. Evercore ISI increased their price objective on shares of The Goldman Sachs Group from $435.00 to $440.00 and gave the stock an “outperform” rating in a research note on Tuesday. JMP Securities boosted their target price on shares of The Goldman Sachs Group from $440.00 to $460.00 and gave the company a “market outperform” rating in a research report on Tuesday, April 9th. Morgan Stanley upgraded shares of The Goldman Sachs Group from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $333.00 to $449.00 in a research report on Tuesday, January 30th. Finally, UBS Group lifted their price target on shares of The Goldman Sachs Group from $382.00 to $440.00 and gave the stock a “buy” rating in a research note on Tuesday, January 9th. Six research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, The Goldman Sachs Group currently has an average rating of “Moderate Buy” and an average target price of $434.93.

The Goldman Sachs Group Price Performance

NYSE GS opened at $403.11 on Thursday. The stock has a market capitalization of $130.82 billion, a price-to-earnings ratio of 15.74, a PEG ratio of 1.54 and a beta of 1.43. The Goldman Sachs Group has a 1-year low of $289.36 and a 1-year high of $419.20. The company has a debt-to-equity ratio of 1.98, a current ratio of 1.12 and a quick ratio of 0.76. The business’s fifty day moving average price is $396.03 and its 200-day moving average price is $365.61.

The Goldman Sachs Group (NYSE:GS) last issued its quarterly earnings data on Monday, April 15th. The investment management company reported $11.58 earnings per share for the quarter, beating analysts’ consensus estimates of $8.54 by $3.04. The Goldman Sachs Group had a net margin of 8.17% and a return on equity of 8.65%. The company had revenue of $14.21 billion for the quarter, compared to the consensus estimate of $12.94 billion. During the same quarter in the prior year, the firm earned $8.79 earnings per share. The firm’s revenue for the quarter was up 16.1% compared to the same quarter last year.

Institutional Investors Weigh In On The Goldman Sachs Group

A number of hedge funds have recently bought and sold shares of the business. International Assets Investment Management LLC purchased a new position in shares of The Goldman Sachs Group in the 1st quarter worth approximately $1,903,374,000. Norges Bank purchased a new position in The Goldman Sachs Group during the fourth quarter worth $1,120,119,000. Morgan Stanley increased its position in The Goldman Sachs Group by 40.0% during the fourth quarter. Morgan Stanley now owns 5,936,351 shares of the investment management company’s stock valued at $2,038,425,000 after acquiring an additional 1,696,350 shares during the last quarter. Moneta Group Investment Advisors LLC raised its stake in shares of The Goldman Sachs Group by 168,772.3% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 1,244,589 shares of the investment management company’s stock valued at $427,367,000 after acquiring an additional 1,243,852 shares during the period. Finally, Congress Wealth Management LLC DE lifted its holdings in shares of The Goldman Sachs Group by 27,076.5% in the 3rd quarter. Congress Wealth Management LLC DE now owns 653,322 shares of the investment management company’s stock worth $211,396,000 after acquiring an additional 650,918 shares during the last quarter. Hedge funds and other institutional investors own 71.21% of the company’s stock.

Insider Activity

In related news, CFO Denis P. Coleman sold 12,680 shares of the company’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $394.43, for a total transaction of $5,001,372.40. Following the completion of the transaction, the chief financial officer now owns 29,417 shares in the company, valued at $11,602,947.31. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, insider Kathryn H. Ruemmler sold 7,277 shares of the company’s stock in a transaction that occurred on Tuesday, January 23rd. The stock was sold at an average price of $379.81, for a total transaction of $2,763,877.37. Following the sale, the insider now directly owns 6,501 shares of the company’s stock, valued at approximately $2,469,144.81. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Denis P. Coleman sold 12,680 shares of the stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $394.43, for a total value of $5,001,372.40. Following the transaction, the chief financial officer now owns 29,417 shares of the company’s stock, valued at $11,602,947.31. The disclosure for this sale can be found here. Insiders have sold a total of 35,907 shares of company stock worth $13,950,851 over the last quarter. Insiders own 0.54% of the company’s stock.

The Goldman Sachs Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 27th. Shareholders of record on Thursday, May 30th will be issued a dividend of $2.75 per share. This represents a $11.00 dividend on an annualized basis and a yield of 2.73%. The ex-dividend date of this dividend is Thursday, May 30th. The Goldman Sachs Group’s dividend payout ratio (DPR) is currently 42.95%.

The Goldman Sachs Group Company Profile

The Goldman Sachs Group, Inc, a financial institution, provides a range of financial services for corporations, financial institutions, governments, and individuals worldwide. It operates through Global Banking & Markets, Asset & Wealth Management, and Platform Solutions segments. The Global Banking & Markets segment provides financial advisory services, including strategic advisory assignments related to mergers and acquisitions, divestitures, corporate defense activities, restructurings, and spin-offs; and relationship lending, and acquisition financing, as well as secured lending, through structured credit and asset-backed lending and involved in financing under securities to resale agreements.