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

The Goldman Sachs Group, Inc. (NYSE:GSFree Report) – Stock analysts at Zacks Research raised their Q2 2024 earnings per share estimates for The Goldman Sachs Group in a report released on Friday, February 9th. Zacks Research analyst R. Department now forecasts that the investment management company will post earnings per share of $7.40 for the quarter, up from their previous forecast of $7.37. The consensus estimate for The Goldman Sachs Group’s current full-year earnings is $32.72 per share. Zacks Research also issued estimates for The Goldman Sachs Group’s Q4 2024 earnings at $7.69 EPS, Q1 2025 earnings at $8.20 EPS, Q4 2025 earnings at $9.07 EPS, FY2025 earnings at $35.37 EPS and FY2026 earnings at $37.90 EPS.

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

A number of other equities research analysts also recently weighed in on the company. Morgan Stanley upgraded The Goldman Sachs Group from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $333.00 to $449.00 in a report on Tuesday, January 30th. Barclays lifted their target price on The Goldman Sachs Group from $437.00 to $493.00 and gave the company an “overweight” rating in a research report on Tuesday, January 2nd. JMP Securities reaffirmed a “market outperform” rating and set a $440.00 target price on shares of The Goldman Sachs Group in a research report on Wednesday, January 17th. UBS Group lifted their target price on The Goldman Sachs Group from $382.00 to $440.00 and gave the company a “buy” rating in a research report on Tuesday, January 9th. Finally, Oppenheimer boosted their price objective on The Goldman Sachs Group from $491.00 to $506.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 30th. Six analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, The Goldman Sachs Group has an average rating of “Moderate Buy” and a consensus price target of $409.93.

Check Out Our Latest Stock Report on The Goldman Sachs Group

The Goldman Sachs Group Price Performance

Shares of GS opened at $392.64 on Monday. The Goldman Sachs Group has a 1 year low of $289.36 and a 1 year high of $396.35. 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 company has a market capitalization of $128.04 billion, a price-to-earnings ratio of 17.21, a price-to-earnings-growth ratio of 1.35 and a beta of 1.43. The business has a 50-day moving average of $378.10 and a 200-day moving average of $344.88.

Institutional Investors Weigh In On The Goldman Sachs Group

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

Insider Buying and Selling

In related news, insider Ericka T. Leslie sold 1,376 shares of the firm’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 directly owns 10,471 shares of the company’s stock, valued at approximately $3,509,355.65. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other The Goldman Sachs Group news, CAO Sheara J. Fredman sold 4,300 shares of the firm’s stock in a transaction dated Tuesday, January 23rd. The stock was sold at an average price of $380.15, for a total transaction of $1,634,645.00. Following the sale, the chief accounting officer now directly owns 11,463 shares of the company’s stock, valued at $4,357,659.45. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Ericka T. Leslie sold 1,376 shares of the firm’s stock in a transaction dated Tuesday, November 21st. The shares were sold at an average price of $335.15, for a total value of $461,166.40. Following the sale, the insider now directly owns 10,471 shares in the company, valued at $3,509,355.65. The disclosure for this sale can be found here. In the last three months, insiders have sold 16,110 shares of company stock valued at $5,990,991. 0.54% of the stock is owned by company insiders.

The Goldman Sachs Group Announces Dividend

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 issued a $2.75 dividend. The ex-dividend date of this dividend is Wednesday, February 28th. This represents a $11.00 dividend on an annualized basis and a yield of 2.80%. The Goldman Sachs Group’s dividend payout ratio is currently 48.20%.

The Goldman Sachs Group Company Profile

(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.

Further Reading

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

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