The Goldman Sachs Group, Inc. to Post Q2 2024 Earnings of $8.79 Per Share, Zacks Research Forecasts (NYSE:GS)

The Goldman Sachs Group, Inc. (NYSE:GS) – Investment analysts at Zacks Research increased their Q2 2024 earnings per share estimates for The Goldman Sachs Group in a research report issued to clients and investors on Monday, May 6th. Zacks Research analyst R. Department now forecasts that the investment management company will earn $8.79 per share for the quarter, up from their prior forecast of $7.40. The consensus estimate for The Goldman Sachs Group’s current full-year earnings is $36.07 per share. Zacks Research also issued estimates for The Goldman Sachs Group’s Q3 2024 earnings at $8.96 EPS, FY2024 earnings at $37.40 EPS, Q1 2025 earnings at $10.62 EPS, Q2 2025 earnings at $10.12 EPS, Q3 2025 earnings at $9.68 EPS, Q4 2025 earnings at $9.56 EPS, FY2025 earnings at $39.98 EPS, Q1 2026 earnings at $10.96 EPS and FY2026 earnings at $41.90 EPS.

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

GS has been the topic of a number of other research reports. Edward Jones assumed coverage on The Goldman Sachs Group in a research note on Tuesday, February 27th. They set a “buy” rating on the stock. HSBC increased their target price on The Goldman Sachs Group from $460.00 to $470.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. Oppenheimer upped their price target on shares of The Goldman Sachs Group from $479.00 to $517.00 and gave the stock an “outperform” rating in a report on Tuesday, April 30th. Citigroup lifted their price objective on shares of The Goldman Sachs Group from $410.00 to $425.00 and gave the company a “neutral” rating in a report on Tuesday, April 16th. Finally, JPMorgan Chase & Co. upped their target price on shares of 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. Six investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $440.57.

The Goldman Sachs Group Stock Performance

Shares of NYSE:GS opened at $446.95 on Thursday. The company has a current ratio of 1.12, a quick ratio of 0.76 and a debt-to-equity ratio of 1.98. The company has a market capitalization of $145.05 billion, a price-to-earnings ratio of 17.45, a PEG ratio of 1.38 and a beta of 1.40. The Goldman Sachs Group has a 12 month low of $289.36 and a 12 month high of $448.02. The firm’s 50-day moving average is $406.72 and its 200 day moving average is $377.23.

Institutional Investors Weigh In On The Goldman Sachs Group

A number of institutional investors and hedge funds have recently modified their holdings of the company. First Personal Financial Services acquired a new stake in The Goldman Sachs Group during the 1st quarter valued at approximately $25,000. First United Bank & Trust purchased a new stake in The Goldman Sachs Group in the fourth quarter valued at $26,000. Versant Capital Management Inc raised its stake in shares of The Goldman Sachs Group by 106.3% during the 1st quarter. Versant Capital Management Inc now owns 66 shares of the investment management company’s stock valued at $28,000 after buying an additional 34 shares during the last quarter. Pineridge Advisors LLC acquired a new position in shares of The Goldman Sachs Group in the 4th quarter valued at about $29,000. Finally, Truvestments Capital LLC boosted its stake in shares of The Goldman Sachs Group by 88.0% in the third quarter. Truvestments Capital LLC now owns 94 shares of the investment management company’s stock worth $31,000 after buying an additional 44 shares during the last quarter. Institutional investors and hedge funds own 71.21% of the company’s stock.

Insiders Place Their Bets

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

The Goldman Sachs Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 27th. Investors of record on Thursday, May 30th will be given 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 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.