The Goldman Sachs Group, Inc. Forecasted to Post Q1 2024 Earnings of $12.33 Per Share (NYSE:GS)

The Goldman Sachs Group, Inc. (NYSE:GS – Get Rating) – Equities researchers at Seaport Res Ptn issued their Q1 2024 earnings estimates for The Goldman Sachs Group in a note issued to investors on Tuesday, January 17th. Seaport Res Ptn analyst J. Mitchell anticipates that the investment management company will post earnings per share of $12.33 for the quarter. The consensus estimate for The Goldman Sachs Group’s current full-year earnings is $31.98 per share. Seaport Res Ptn also issued estimates for The Goldman Sachs Group’s Q2 2024 earnings at $10.69 EPS, Q3 2024 earnings at $11.05 EPS and Q4 2024 earnings at $11.17 EPS.

The Goldman Sachs Group (NYSE:GS – Get Rating) last issued its earnings results on Tuesday, January 17th. The investment management company reported $3.32 EPS for the quarter, missing the consensus estimate of $5.77 by ($2.45). The company had revenue of $10.59 billion for the quarter, compared to analysts’ expectations of $10.91 billion. The Goldman Sachs Group had a return on equity of 13.23% and a net margin of 22.50%. The Goldman Sachs Group’s revenue for the quarter was down 16.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $10.81 earnings per share.

Several other brokerages have also recently issued reports on GS. Wells Fargo & Company reduced their price objective on The Goldman Sachs Group from $400.00 to $390.00 and set an “overweight” rating on the stock in a research note on Wednesday. BMO Capital Markets decreased their price target on The Goldman Sachs Group from $485.00 to $443.00 and set an “outperform” rating for the company in a research report on Wednesday. StockNews.com started coverage on The Goldman Sachs Group in a research note on Wednesday, October 12th. They set a “hold” rating for the company. Deutsche Bank Aktiengesellschaft cut their price objective on The Goldman Sachs Group from $370.00 to $345.00 in a research note on Friday, January 6th. Finally, Odeon Capital Group raised The Goldman Sachs Group from a “sell” rating to a “hold” rating and set a $370.14 price objective on the stock in a report on Tuesday, January 10th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $396.83.

The Goldman Sachs Group Stock Down 2.5 %

GS opened at $341.84 on Friday. The company has a market cap of $115.76 billion, a PE ratio of 9.10 and a beta of 1.41. The Goldman Sachs Group has a 1 year low of $277.84 and a 1 year high of $389.58. The firm has a 50 day moving average price of $362.15 and a 200 day moving average price of $338.52. The company has a debt-to-equity ratio of 2.21, a quick ratio of 0.84 and a current ratio of 0.84.

Institutional Investors Weigh In On The Goldman Sachs Group

Hedge funds have recently modified their holdings of the business. Fidelis Capital Partners LLC acquired a new position in The Goldman Sachs Group during the 4th quarter valued at approximately $846,000. Veriti Management LLC lifted its holdings in The Goldman Sachs Group by 6.4% during the fourth quarter. Veriti Management LLC now owns 6,220 shares of the investment management company’s stock valued at $2,136,000 after purchasing an additional 373 shares in the last quarter. Vestmark Advisory Solutions Inc. raised its position in shares of The Goldman Sachs Group by 58.0% in the fourth quarter. Vestmark Advisory Solutions Inc. now owns 5,883 shares of the investment management company’s stock valued at $2,020,000 after buying an additional 2,159 shares during the last quarter. Avestar Capital LLC raised its position in shares of The Goldman Sachs Group by 6.7% in the fourth quarter. Avestar Capital LLC now owns 1,210 shares of the investment management company’s stock valued at $415,000 after buying an additional 76 shares during the last quarter. Finally, Griffin Asset Management Inc. raised its position in shares of The Goldman Sachs Group by 1.5% in the fourth quarter. Griffin Asset Management Inc. now owns 22,176 shares of the investment management company’s stock valued at $7,615,000 after buying an additional 328 shares during the last quarter. Hedge funds and other institutional investors own 69.09% of the company’s stock.

Insider Buying and Selling

In related news, Director Goldman Sachs Group Inc sold 147,816 shares of the firm’s stock in a transaction that occurred on Monday, December 12th. The shares were sold at an average price of $22.20, for a total transaction of $3,281,515.20. Following the completion of the sale, the director now owns 1,070,982 shares of the company’s stock, valued at $23,775,800.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, COO John E. Waldron sold 3,371 shares of the business’s stock in a transaction dated Friday, November 25th. The shares were sold at an average price of $385.98, for a total value of $1,301,138.58. Following the sale, the chief operating officer now directly owns 76,683 shares in the company, valued at approximately $29,598,104.34. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Goldman Sachs Group Inc sold 147,816 shares of The Goldman Sachs Group stock in a transaction dated Monday, December 12th. The stock was sold at an average price of $22.20, for a total transaction of $3,281,515.20. Following the transaction, the director now directly owns 1,070,982 shares of the company’s stock, valued at $23,775,800.40. The disclosure for this sale can be found here. Insiders sold a total of 4,847,711 shares of company stock valued at $117,408,700 over the last three months. Corporate insiders own 0.57% of the company’s stock.

The Goldman Sachs Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 30th. Stockholders of record on Thursday, March 2nd will be issued a dividend of $2.50 per share. The ex-dividend date of this dividend is Wednesday, March 1st. This represents a $10.00 dividend on an annualized basis and a dividend yield of 2.93%. The Goldman Sachs Group’s dividend payout ratio is currently 26.63%.

About The Goldman Sachs Group

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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 four segments: Investment Banking, Global Markets, Asset Management, and Consumer & Wealth Management.