Q2 2024 EPS Estimates for The Goldman Sachs Group, Inc. Raised by Zacks Research (NYSE:GS)

The Goldman Sachs Group, Inc. (NYSE:GS) – Investment analysts at Zacks Research boosted their Q2 2024 EPS estimates for shares of The Goldman Sachs Group in a research note issued on Monday, May 6th. Zacks Research analyst R. Department now expects that the investment management company will earn $8.79 per share for the quarter, up from their previous forecast of $7.40. The consensus estimate for The Goldman Sachs Group’s current full-year earnings is $36.07 per share. Zacks Research also issued estimates for The Goldman Sachs Group’s Q3 2024 earnings at $8.96 EPS, FY2024 earnings at $37.40 EPS, Q1 2025 earnings at $10.62 EPS, Q2 2025 earnings at $10.12 EPS, Q3 2025 earnings at $9.68 EPS, Q4 2025 earnings at $9.56 EPS, FY2025 earnings at $39.98 EPS, Q1 2026 earnings at $10.96 EPS and FY2026 earnings at $41.90 EPS.

The Goldman Sachs Group (NYSE:GS) last released its 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 Goldman Sachs Group had a net margin of 8.17% and a return on equity of 8.65%. The firm had revenue of $14.21 billion for the quarter, compared to analyst estimates of $12.94 billion. During the same period in the prior year, the firm earned $8.79 earnings per share. The business’s quarterly revenue was up 16.1% compared to the same quarter last year.

Other research analysts have also issued research reports about the company. Argus raised The Goldman Sachs Group from a “hold” rating to a “buy” rating and set a $465.00 target price on the stock in a report on Tuesday, April 16th. Citigroup raised their price objective on shares of The Goldman Sachs Group from $410.00 to $425.00 and gave the company a “neutral” rating in a research report on Tuesday, April 16th. Bank of America increased their target price on The Goldman Sachs Group from $450.00 to $478.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. JMP Securities increased their price objective on The Goldman Sachs Group from $440.00 to $460.00 and gave the stock a “market outperform” rating in a research report on Tuesday, April 9th. Finally, Evercore ISI boosted their target price on shares of The Goldman Sachs Group from $435.00 to $440.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 16th. Six research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, The Goldman Sachs Group has a consensus rating of “Moderate Buy” and an average price target of $440.57.

The Goldman Sachs Group Stock Performance

NYSE:GS opened at $455.56 on Thursday. The firm has a market capitalization of $147.84 billion, a PE ratio of 17.79, a price-to-earnings-growth ratio of 1.38 and a beta of 1.40. 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 business’s fifty day moving average price is $407.80 and its 200 day moving average price is $377.71. The Goldman Sachs Group has a 12 month low of $289.36 and a 12 month high of $456.43.

Institutional Investors Weigh In On The Goldman Sachs Group

A number of institutional investors and hedge funds have recently bought and sold shares of GS. First Personal Financial Services purchased a new position in The Goldman Sachs Group during the 1st quarter valued at about $25,000. First United Bank & Trust acquired a new stake in shares of The Goldman Sachs Group in the 4th quarter valued at $26,000. Versant Capital Management Inc boosted its holdings in The Goldman Sachs Group by 106.3% in the first quarter. Versant Capital Management Inc now owns 66 shares of the investment management company’s stock worth $28,000 after purchasing an additional 34 shares in the last quarter. Pineridge Advisors LLC acquired a new position in The Goldman Sachs Group during the fourth quarter worth $29,000. Finally, Truvestments Capital LLC raised its holdings in The Goldman Sachs Group by 88.0% during the third quarter. Truvestments Capital LLC now owns 94 shares of the investment management company’s stock valued at $31,000 after buying an additional 44 shares in the last quarter. 71.21% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at The Goldman Sachs Group

In other news, Director David A. Viniar sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $432.25, for a total transaction of $2,161,250.00. Following the completion of the transaction, the director now directly owns 623,425 shares in the company, valued at $269,475,456.25. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, Director David A. Viniar sold 5,000 shares of the company’s stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $432.25, for a total value of $2,161,250.00. Following the completion of the sale, the director now owns 623,425 shares of the company’s stock, valued at $269,475,456.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 transaction, the chief financial officer now directly owns 29,417 shares in the company, valued at approximately $11,602,947.31. The disclosure for this sale can be found here. Over the last three months, insiders have sold 29,330 shares of company stock worth $11,713,578. 0.57% of the stock is owned by insiders.

The Goldman Sachs Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 27th. Stockholders of record on Thursday, May 30th will be given a dividend of $2.75 per share. This represents a $11.00 dividend on an annualized basis and a dividend yield of 2.41%. The ex-dividend date is Thursday, May 30th. The Goldman Sachs Group’s payout ratio is currently 42.95%.

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.