Zacks Research Analysts Raise Earnings Estimates for The Goldman Sachs Group, Inc. (NYSE:GS)

The Goldman Sachs Group, Inc. (NYSE:GSFree Report) – Research analysts at Zacks Research increased their Q1 2024 earnings per share (EPS) estimates for shares of The Goldman Sachs Group in a research report issued to clients and investors on Tuesday, February 6th. Zacks Research analyst R. Department now forecasts that the investment management company will post earnings of $8.46 per share for the quarter, up from their prior estimate of $8.14. The consensus estimate for The Goldman Sachs Group’s current full-year earnings is $32.51 per share. Zacks Research also issued estimates for The Goldman Sachs Group’s Q2 2024 earnings at $7.37 EPS, Q3 2024 earnings at $8.19 EPS, Q4 2024 earnings at $7.59 EPS, Q1 2025 earnings at $8.28 EPS, Q2 2025 earnings at $9.24 EPS, Q3 2025 earnings at $9.08 EPS, Q4 2025 earnings at $9.17 EPS, FY2025 earnings at $35.77 EPS and FY2026 earnings at $38.23 EPS.

The Goldman Sachs Group (NYSE:GSGet Free Report) last released its quarterly earnings results on Tuesday, January 16th. The investment management company reported $5.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.62 by $1.86. The business had revenue of $11.32 billion during the quarter, compared to the consensus estimate of $10.80 billion. The Goldman Sachs Group had a return on equity of 7.82% and a net margin of 7.85%. The firm’s quarterly revenue was up 6.9% on a year-over-year basis. During the same period in the previous year, the company posted $3.32 EPS.

Several other analysts have also issued reports on GS. Oppenheimer increased their target price on The Goldman Sachs Group from $491.00 to $506.00 and gave the stock an “outperform” rating in a report on Tuesday, January 30th. UBS Group lifted their price target on The Goldman Sachs Group from $382.00 to $440.00 and gave the company a “buy” rating in a research note on Tuesday, January 9th. Morgan Stanley raised The Goldman Sachs Group from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $333.00 to $449.00 in a research note on Tuesday, January 30th. BMO Capital Markets raised their price objective on The Goldman Sachs Group from $357.00 to $360.00 and gave the stock a “market perform” rating in a research report on Thursday, January 18th. Finally, Barclays raised their price objective on The Goldman Sachs Group from $437.00 to $493.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 2nd. Six equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $409.93.

Get Our Latest Stock Analysis on GS

The Goldman Sachs Group Stock Performance

GS opened at $386.66 on Thursday. The business has a fifty day simple moving average of $375.65 and a 200 day simple moving average of $344.31. The company has a market capitalization of $126.09 billion, a PE ratio of 16.94, a price-to-earnings-growth ratio of 1.36 and a beta of 1.43. The Goldman Sachs Group has a 1 year low of $289.36 and a 1 year high of $393.91. The company has a debt-to-equity ratio of 2.07, a current ratio of 1.14 and a quick ratio of 0.77.

The Goldman Sachs Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 28th. Investors of record on Thursday, February 29th will be given a dividend of $2.75 per share. The ex-dividend date is Wednesday, February 28th. This represents a $11.00 annualized dividend and a dividend yield of 2.84%. The Goldman Sachs Group’s payout ratio is 48.20%.

Insider Activity at The Goldman Sachs Group

In other The Goldman Sachs Group news, insider Ericka T. Leslie sold 1,376 shares of the business’s stock in a transaction on Tuesday, November 21st. The stock was sold at an average price of $335.15, for a total value of $461,166.40. Following the transaction, the insider now owns 10,471 shares of the company’s stock, valued at $3,509,355.65. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other The Goldman Sachs Group news, insider Ericka T. Leslie sold 1,376 shares of the business’s stock in a transaction on Tuesday, November 21st. The stock was sold at an average price of $335.15, for a total value of $461,166.40. Following the transaction, the insider now owns 10,471 shares of the company’s stock, valued at $3,509,355.65. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Brian J. Lee sold 3,000 shares of the business’s stock in a transaction on Wednesday, January 17th. The shares were sold at an average price of $376.39, for a total value of $1,129,170.00. Following the completion of the sale, the insider now owns 10,121 shares in the company, valued at $3,809,443.19. The disclosure for this sale can be found here. Insiders have sold a total of 16,110 shares of company stock valued at $5,990,991 over the last 90 days. Insiders own 0.54% of the company’s stock.

Institutional Trading of The Goldman Sachs Group

Several hedge funds have recently made changes to their positions in GS. Fairfield Bush & CO. bought a new stake in shares of The Goldman Sachs Group during the 1st quarter valued at $66,000. Candriam Luxembourg S.C.A. increased its stake in The Goldman Sachs Group by 1,505.1% in the 1st quarter. Candriam Luxembourg S.C.A. now owns 41,300 shares of the investment management company’s stock worth $13,633,000 after acquiring an additional 38,727 shares during the last quarter. Baird Financial Group Inc. increased its stake in The Goldman Sachs Group by 18.5% in the 1st quarter. Baird Financial Group Inc. now owns 118,609 shares of the investment management company’s stock worth $39,153,000 after acquiring an additional 18,540 shares during the last quarter. Zions Bancorporation N.A. increased its stake in The Goldman Sachs Group by 79.4% in the 1st quarter. Zions Bancorporation N.A. now owns 827 shares of the investment management company’s stock worth $273,000 after acquiring an additional 366 shares during the last quarter. Finally, Covestor Ltd increased its stake in The Goldman Sachs Group by 118.3% in the 1st quarter. Covestor Ltd now owns 310 shares of the investment management company’s stock worth $102,000 after acquiring an additional 168 shares during the last quarter. 69.06% of the stock is currently owned by institutional investors.

About The Goldman Sachs Group

(Get Free Report)

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 resale agreements.

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Earnings History and Estimates for The Goldman Sachs Group (NYSE:GS)

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