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

The Goldman Sachs Group, Inc. (NYSE:GS) – Seaport Res Ptn decreased their Q2 2024 earnings per share estimates for shares of The Goldman Sachs Group in a research note issued to investors on Monday, April 15th. Seaport Res Ptn analyst J. Mitchell now expects 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 released 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 company had revenue of $14.21 billion during the quarter, compared to analysts’ expectations of $12.94 billion. The Goldman Sachs Group had a return on equity of 8.65% and a net margin of 8.17%. 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 firm posted $8.79 EPS.

Several other equities research analysts have also commented on the company. Argus upgraded The Goldman Sachs Group from a “hold” rating to a “buy” rating and set a $465.00 price objective for the company in a research note on Tuesday. UBS Group boosted their price objective on 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. BMO Capital Markets boosted their price objective on The Goldman Sachs Group from $349.00 to $360.00 and gave the stock a “market perform” rating in a research note on Tuesday. JPMorgan Chase & Co. boosted their price objective on The Goldman Sachs Group from $424.00 to $433.00 and gave the stock an “overweight” rating in a research note on Tuesday. Finally, Barclays boosted their price objective on The Goldman Sachs Group from $437.00 to $493.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 2nd. Six investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat, The Goldman Sachs Group has a consensus rating of “Moderate Buy” and a consensus price target of $434.93.

The Goldman Sachs Group Stock Performance

NYSE GS opened at $403.91 on Thursday. The Goldman Sachs Group has a twelve month low of $289.36 and a twelve month high of $419.20. The stock has a 50-day moving average of $395.67 and a 200 day moving average of $365.35. The company has a current ratio of 1.12, a quick ratio of 0.76 and a debt-to-equity ratio of 1.98. The stock has a market capitalization of $131.08 billion, a price-to-earnings ratio of 15.77, a PEG ratio of 1.56 and a beta of 1.43.

The Goldman Sachs Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 27th. Investors of record on Thursday, May 30th will be given a $2.75 dividend. The ex-dividend date of this dividend is Thursday, May 30th. This represents a $11.00 annualized dividend and a yield of 2.72%. The Goldman Sachs Group’s payout ratio is 42.95%.

Insiders Place Their Bets

In other The Goldman Sachs Group news, CFO Denis P. Coleman sold 12,680 shares of the company’s stock in a transaction on 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 transaction, the chief financial officer now directly owns 29,417 shares in the company, valued at $11,602,947.31. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other The Goldman Sachs Group news, CFO Denis P. Coleman sold 12,680 shares of the company’s stock in a transaction on 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 transaction, the chief financial officer now directly owns 29,417 shares in the company, valued at $11,602,947.31. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Treasurer Philip R. Berlinski sold 11,650 shares of the company’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $390.64, for a total value of $4,550,956.00. Following the transaction, the treasurer now owns 18,408 shares in the company, valued at $7,190,901.12. The disclosure for this sale can be found here. Insiders have sold 35,907 shares of company stock worth $13,950,851 over the last ninety days. Corporate insiders own 0.57% of the company’s stock.

Institutional Trading of The Goldman Sachs Group

Several hedge funds have recently modified their holdings of GS. International Assets Investment Management LLC acquired a new stake in shares of The Goldman Sachs Group in the first quarter valued at $1,903,374,000. Norges Bank acquired a new stake in shares of The Goldman Sachs Group in the fourth quarter valued at $1,120,119,000. Morgan Stanley raised its stake in shares of The Goldman Sachs Group by 40.0% in the fourth quarter. Morgan Stanley now owns 5,936,351 shares of the investment management company’s stock valued at $2,038,425,000 after acquiring an additional 1,696,350 shares in the last quarter. Moneta Group Investment Advisors LLC raised its stake in The Goldman Sachs Group by 168,772.3% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 1,244,589 shares of the investment management company’s stock valued at $427,367,000 after buying an additional 1,243,852 shares in the last quarter. Finally, Congress Wealth Management LLC DE raised its stake in The Goldman Sachs Group by 27,076.5% in the third quarter. Congress Wealth Management LLC DE now owns 653,322 shares of the investment management company’s stock valued at $211,396,000 after buying an additional 650,918 shares in the last quarter. 71.21% of the stock is currently owned by institutional investors and hedge funds.

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.