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

The Goldman Sachs Group, Inc. (NYSE:GS) – Investment analysts at Seaport Res Ptn dropped their Q3 2024 earnings per share (EPS) estimates for shares of The Goldman Sachs Group in a report issued on Monday, April 15th. Seaport Res Ptn analyst J. Mitchell now expects that the investment management company will post earnings of $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.

The Goldman Sachs Group (NYSE:GS) last posted 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 Goldman Sachs Group had a return on equity of 8.65% and a net margin of 8.17%. The business had revenue of $14.21 billion for the quarter, compared to the consensus estimate of $12.94 billion. During the same period in the prior year, the business earned $8.79 EPS. The firm’s revenue for the quarter was up 16.1% on a year-over-year basis.

A number of other analysts have also commented on GS. Edward Jones initiated coverage on The Goldman Sachs Group in a report on Tuesday, February 27th. They set a “buy” rating for the company. 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 report on Tuesday. Oppenheimer boosted their price objective on The Goldman Sachs Group from $446.00 to $479.00 and gave the stock an “outperform” rating in a report on Tuesday. Royal Bank of Canada boosted their price objective on The Goldman Sachs Group from $390.00 to $405.00 and gave the stock a “sector perform” rating in a report on Tuesday. Finally, Daiwa Capital Markets raised The Goldman Sachs Group from a “neutral” rating to an “outperform” rating and boosted their price objective for the stock from $410.00 to $430.00 in a report on Thursday, March 14th. Six research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $434.93.

The Goldman Sachs Group Stock Down 0.2 %

GS stock opened at $403.11 on Wednesday. The stock’s 50 day simple moving average is $396.03 and its 200 day simple moving average is $365.61. The Goldman Sachs Group has a fifty-two week low of $289.36 and a fifty-two 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 company has a market cap of $130.82 billion, a P/E ratio of 15.74, a price-to-earnings-growth ratio of 1.54 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 dividend on an annualized basis and a dividend yield of 2.73%. The Goldman Sachs Group’s dividend payout ratio (DPR) is presently 42.95%.

Insider Buying and Selling

In related news, CAO Sheara J. Fredman sold 4,300 shares of the stock in a transaction on Tuesday, January 23rd. The stock was sold at an average price of $380.15, for a total value of $1,634,645.00. Following the sale, the chief accounting officer now owns 11,463 shares in the company, valued at $4,357,659.45. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CAO Sheara J. Fredman sold 4,300 shares of the stock in a transaction on Tuesday, January 23rd. The stock was sold at an average price of $380.15, for a total value of $1,634,645.00. Following the sale, the chief accounting officer now owns 11,463 shares in the company, valued at $4,357,659.45. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Treasurer Philip R. Berlinski sold 11,650 shares of the 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 completion of the sale, the treasurer now owns 18,408 shares in the company, valued at approximately $7,190,901.12. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 35,907 shares of company stock worth $13,950,851. Corporate insiders own 0.54% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. First United Bank & Trust bought a new position in shares of The Goldman Sachs Group during the fourth quarter valued at about $26,000. Versant Capital Management Inc grew its stake in shares of The Goldman Sachs Group by 106.3% during the first quarter. Versant Capital Management Inc now owns 66 shares of the investment management company’s stock valued at $28,000 after buying an additional 34 shares during the last quarter. Cambridge Trust Co. grew its stake in shares of The Goldman Sachs Group by 82.0% during the third quarter. Cambridge Trust Co. now owns 91 shares of the investment management company’s stock valued at $29,000 after buying an additional 41 shares during the last quarter. Pineridge Advisors LLC bought a new position in shares of The Goldman Sachs Group during the fourth quarter valued at about $29,000. Finally, Truvestments Capital LLC grew its stake in shares of 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 during the last quarter. Institutional investors own 71.21% of the company’s stock.

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.