Q3 2024 Earnings Forecast for The Goldman Sachs Group, Inc. Issued By Seaport Res Ptn (NYSE:GS)

The Goldman Sachs Group, Inc. (NYSE:GS) – Stock analysts at Seaport Res Ptn decreased their Q3 2024 EPS estimates for shares of The Goldman Sachs Group in a report released on Monday, April 15th. Seaport Res Ptn analyst J. Mitchell now anticipates that the investment management company will earn $8.49 per share for the quarter, down from their prior forecast of $8.73. The consensus estimate for The Goldman Sachs Group’s current full-year earnings is $32.76 per share. Seaport Res Ptn also issued estimates for The Goldman Sachs Group’s Q2 2025 earnings at $9.77 EPS and FY2025 earnings at $39.20 EPS.

Several other research firms have also recently commented on GS. JMP Securities raised their target price on shares of The Goldman Sachs Group from $440.00 to $460.00 and gave the stock a “market outperform” rating in a research note on Tuesday, April 9th. Bank of America raised their target price on shares of The Goldman Sachs Group from $450.00 to $478.00 and gave the stock a “buy” rating in a research note on Tuesday. Citigroup raised their target price on shares of The Goldman Sachs Group from $410.00 to $425.00 and gave the stock a “neutral” rating in a research note on Tuesday. HSBC raised their target price on shares of The Goldman Sachs Group from $460.00 to $470.00 and gave the stock a “buy” rating in a research note on Tuesday. Finally, BMO Capital Markets raised their target price on shares of The Goldman Sachs Group from $349.00 to $360.00 and gave the stock a “market perform” rating in a research note on Tuesday. Six research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, The Goldman Sachs Group presently has a consensus rating of “Moderate Buy” and an average price target of $434.93.

The Goldman Sachs Group Stock Down 0.2 %

Shares of NYSE:GS opened at $403.11 on Wednesday. The stock has a market cap of $130.82 billion, a P/E ratio of 15.74, a P/E/G ratio of 1.54 and a beta of 1.43. The firm has a fifty day moving average price of $396.03 and a 200 day moving average price of $365.61. 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 has a 1-year low of $289.36 and a 1-year high of $419.20.

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 for the quarter, topping analysts’ consensus estimates of $8.54 by $3.04. The firm had revenue of $14.21 billion during the quarter, compared to analysts’ expectations of $12.94 billion. The Goldman Sachs Group had a net margin of 8.17% and a return on equity of 8.65%. The Goldman Sachs Group’s quarterly revenue was up 16.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $8.79 EPS.

The Goldman Sachs Group Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 27th. Shareholders of record on Thursday, May 30th will be issued a dividend of $2.75 per share. The ex-dividend date of this dividend is Thursday, May 30th. This represents a $11.00 annualized dividend and a yield of 2.73%. The Goldman Sachs Group’s dividend payout ratio (DPR) is currently 42.95%.

Insider Buying and Selling at The Goldman Sachs Group

In other The Goldman Sachs Group news, CFO Denis P. Coleman sold 12,680 shares of the firm’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $394.43, for a total transaction of $5,001,372.40. Following the completion of the transaction, the chief financial officer now directly owns 29,417 shares in the company, valued at approximately $11,602,947.31. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CAO Sheara J. Fredman sold 4,300 shares of The Goldman Sachs Group stock in a transaction dated Tuesday, January 23rd. The shares were sold at an average price of $380.15, for a total transaction of $1,634,645.00. Following the completion of the sale, the chief accounting officer now directly owns 11,463 shares in the company, valued at $4,357,659.45. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Denis P. Coleman sold 12,680 shares of The Goldman Sachs Group stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $394.43, for a total transaction of $5,001,372.40. Following the sale, the chief financial officer now owns 29,417 shares of the company’s stock, valued at $11,602,947.31. The disclosure for this sale can be found here. In the last three months, insiders sold 35,907 shares of company stock worth $13,950,851. 0.54% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On The Goldman Sachs Group

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Fairfield Bush & CO. acquired a new stake in shares of The Goldman Sachs Group in the first quarter worth approximately $66,000. Candriam Luxembourg S.C.A. boosted its position in shares of The Goldman Sachs Group by 1,505.1% in the first 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. boosted its position in shares of The Goldman Sachs Group by 18.5% in the first 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. boosted its position in shares of The Goldman Sachs Group by 79.4% in the first 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 boosted its position in shares of The Goldman Sachs Group by 118.3% in the first 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. 71.21% of the stock is currently owned by hedge funds and other institutional investors.

About The Goldman Sachs Group

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.