Q4 2024 EPS Estimates for The Goldman Sachs Group, Inc. Raised by Zacks Research (NYSE:GS)

The Goldman Sachs Group, Inc. (NYSE:GS) – Analysts at Zacks Research upped their Q4 2024 earnings estimates for shares of The Goldman Sachs Group in a research note issued on Monday, May 6th. Zacks Research analyst R. Department now forecasts that the investment management company will post earnings of $8.07 per share for the quarter, up from their previous forecast of $7.69. The consensus estimate for The Goldman Sachs Group’s current full-year earnings is $36.07 per share.

A number of other equities research analysts have also weighed in on the company. JPMorgan Chase & Co. boosted their price target on The Goldman Sachs Group from $424.00 to $433.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 16th. Morgan Stanley raised shares of The Goldman Sachs Group from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $333.00 to $449.00 in a research report on Tuesday, January 30th. BMO Capital Markets raised their price target on shares of The Goldman Sachs Group from $349.00 to $360.00 and gave the stock a “market perform” rating in a report on Tuesday, April 16th. JMP Securities boosted their price objective on shares of The Goldman Sachs Group from $440.00 to $460.00 and gave the company a “market outperform” rating in a report on Tuesday, April 9th. Finally, Daiwa Capital Markets upgraded The Goldman Sachs Group from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $410.00 to $430.00 in a research note on Thursday, March 14th. Six equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $440.57.

The Goldman Sachs Group Stock Up 0.7 %

Shares of GS stock opened at $446.95 on Wednesday. The stock’s fifty day moving average price is $406.72 and its 200 day moving average price is $377.23. The Goldman Sachs Group has a 1-year low of $289.36 and a 1-year high of $448.02. The company has a market cap of $145.05 billion, a price-to-earnings ratio of 17.45, a price-to-earnings-growth ratio of 1.38 and a beta of 1.40. 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 Goldman Sachs Group (NYSE:GS) last released its quarterly earnings results on Monday, April 15th. The investment management company reported $11.58 earnings per share (EPS) for the quarter, topping the consensus estimate 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 business had revenue of $14.21 billion for the quarter, compared to analyst estimates of $12.94 billion. During the same period in the previous year, the company earned $8.79 earnings per share. The business’s revenue for the quarter was up 16.1% on a year-over-year basis.

Hedge Funds Weigh In On The Goldman Sachs Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. First Personal Financial Services purchased a new position in The Goldman Sachs Group in the 1st quarter valued at $25,000. First United Bank & Trust purchased a new position in shares of The Goldman Sachs Group in the fourth quarter worth about $26,000. Versant Capital Management Inc boosted its position in The Goldman Sachs Group by 106.3% during the first quarter. Versant Capital Management Inc now owns 66 shares of the investment management company’s stock worth $28,000 after acquiring an additional 34 shares during the last quarter. Cambridge Trust Co. grew its stake in The Goldman Sachs Group by 82.0% during the 3rd quarter. Cambridge Trust Co. now owns 91 shares of the investment management company’s stock valued at $29,000 after acquiring an additional 41 shares in the last quarter. Finally, Pineridge Advisors LLC acquired a new stake in The Goldman Sachs Group in the 4th quarter valued at about $29,000. 71.21% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director David A. Viniar sold 5,000 shares of the stock in a transaction on Monday, April 29th. The shares were sold at an average price of $432.25, for a total transaction of $2,161,250.00. Following the sale, the director now directly owns 623,425 shares of the company’s stock, valued at $269,475,456.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Treasurer Philip R. Berlinski sold 11,650 shares of the company’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $390.64, for a total transaction of $4,550,956.00. Following the completion of the transaction, the treasurer now directly owns 18,408 shares of the company’s stock, valued at approximately $7,190,901.12. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director David A. Viniar sold 5,000 shares of The Goldman Sachs Group stock in a transaction on Monday, April 29th. The shares were sold at an average price of $432.25, for a total transaction of $2,161,250.00. Following the completion of the sale, the director now directly owns 623,425 shares in the company, valued at approximately $269,475,456.25. The disclosure for this sale can be found here. Insiders sold a total of 29,330 shares of company stock valued at $11,713,578 in the last three months. 0.57% of the stock is currently owned by corporate insiders.

The Goldman Sachs Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 27th. Stockholders of record on Thursday, May 30th will be paid a dividend of $2.75 per share. The ex-dividend date is Thursday, May 30th. This represents a $11.00 dividend on an annualized basis and a dividend yield of 2.46%. The Goldman Sachs Group’s payout ratio is 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.