The Goldman Sachs Group, Inc. Forecasted to Post Q2 2024 Earnings of $8.26 Per Share (NYSE:GS)

The Goldman Sachs Group, Inc. (NYSE:GS) – Equities research analysts at Seaport Res Ptn cut their Q2 2024 EPS estimates for 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 $8.26 per share for the quarter, down from their prior estimate of $8.42. 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 Q4 2024 earnings at $7.63 EPS, FY2024 earnings at $36.00 EPS, Q1 2025 earnings at $11.13 EPS, Q3 2025 earnings at $9.59 EPS and Q4 2025 earnings at $8.68 EPS.

The Goldman Sachs Group (NYSE:GS) last announced its earnings results on Monday, April 15th. The investment management company reported $11.58 EPS for the quarter, beating the consensus estimate of $8.54 by $3.04. The company had revenue of $14.21 billion for the quarter, compared to analyst estimates of $12.94 billion. The Goldman Sachs Group had a return on equity of 8.65% and a net margin of 8.17%. The firm’s revenue for the quarter was up 16.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $8.79 EPS.

Several other research analysts have also issued reports on GS. UBS Group increased their target price on shares of The Goldman Sachs Group from $382.00 to $440.00 and gave the stock a “buy” rating in a research note on Tuesday, January 9th. Morgan Stanley raised shares of The Goldman Sachs Group from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $333.00 to $449.00 in a research report on Tuesday, January 30th. HSBC boosted their target price on The Goldman Sachs Group from $460.00 to $470.00 and gave the company a “buy” rating in a research report on Tuesday. Oppenheimer increased their price target on The Goldman Sachs Group from $446.00 to $479.00 and gave the stock an “outperform” rating in a report on Tuesday. Finally, Royal Bank of Canada boosted their price objective on The Goldman Sachs Group from $390.00 to $405.00 and gave the company a “sector perform” rating in a report on Tuesday. Six analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat, The Goldman Sachs Group currently has an average rating of “Moderate Buy” and a consensus price target of $434.93.

The Goldman Sachs Group Price Performance

The Goldman Sachs Group stock opened at $403.11 on Thursday. The stock has a market capitalization of $130.82 billion, a price-to-earnings ratio of 15.74, a PEG ratio of 1.54 and a beta of 1.43. The Goldman Sachs Group has a 52-week low of $289.36 and a 52-week high of $419.20. The company has a debt-to-equity ratio of 1.98, a quick ratio of 0.76 and a current ratio of 1.12. The stock’s 50 day moving average price is $396.03 and its two-hundred day moving average price is $365.61.

Hedge Funds Weigh In On The Goldman Sachs Group

Institutional investors and hedge funds have recently bought and sold shares of the company. Fairfield Bush & CO. purchased a new stake in The Goldman Sachs Group during the first quarter valued at about $66,000. Candriam Luxembourg S.C.A. raised 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 valued at $13,633,000 after purchasing an additional 38,727 shares during the period. Baird Financial Group Inc. lifted its stake in shares of 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 valued at $39,153,000 after buying an additional 18,540 shares in the last quarter. Zions Bancorporation N.A. boosted its holdings 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 buying an additional 366 shares during the period. Finally, Covestor Ltd grew 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 valued at $102,000 after buying an additional 168 shares in the last quarter. 71.21% of the stock is owned by institutional investors.

Insider Transactions at The Goldman Sachs Group

In other The Goldman Sachs Group news, insider Kathryn H. Ruemmler sold 7,277 shares of the business’s stock in a transaction on Tuesday, January 23rd. The stock was sold at an average price of $379.81, for a total value of $2,763,877.37. Following the transaction, the insider now owns 6,501 shares of the company’s stock, valued at $2,469,144.81. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, CFO Denis P. Coleman sold 12,680 shares of the stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $11,602,947.31. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Kathryn H. Ruemmler sold 7,277 shares of The Goldman Sachs Group stock in a transaction that occurred on Tuesday, January 23rd. The stock was sold at an average price of $379.81, for a total transaction of $2,763,877.37. Following the completion of the sale, the insider now directly owns 6,501 shares in the company, valued at approximately $2,469,144.81. The disclosure for this sale can be found here. Insiders have sold 35,907 shares of company stock worth $13,950,851 in the last 90 days. Insiders own 0.54% of the company’s stock.

The Goldman Sachs Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 27th. Shareholders 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 annualized dividend and a dividend yield of 2.73%. The Goldman Sachs Group’s dividend payout ratio is currently 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.