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) – Stock analysts at Seaport Res Ptn reduced their Q2 2024 earnings per share (EPS) estimates for shares of The Goldman Sachs Group in a research report issued 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 forecast 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.

Other analysts also recently issued reports about the company. Daiwa Capital Markets upgraded The Goldman Sachs Group from a “neutral” rating to an “outperform” rating and increased their price target for the company from $410.00 to $430.00 in a report on Thursday, March 14th. JMP Securities increased their price target on The Goldman Sachs Group from $440.00 to $460.00 and gave the company a “market outperform” rating in a report on Tuesday, April 9th. Citigroup increased their price target on The Goldman Sachs Group from $410.00 to $425.00 and gave the company a “neutral” rating in a report on Tuesday. Morgan Stanley upgraded The Goldman Sachs Group from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $333.00 to $449.00 in a report on Tuesday, January 30th. Finally, HSBC increased their price target on The Goldman Sachs Group from $460.00 to $470.00 and gave the company a “buy” rating in a report on Tuesday. Six investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $434.93.

The Goldman Sachs Group Trading Up 1.8 %

GS stock opened at $403.91 on Thursday. The Goldman Sachs Group has a 52 week low of $289.36 and a 52 week high of $419.20. The company has a market cap 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 company has a quick ratio of 0.76, a current ratio of 1.12 and a debt-to-equity ratio of 1.98. The business has a fifty day simple moving average of $395.67 and a 200-day simple moving average of $365.35.

The Goldman Sachs Group (NYSE:GS) last released its quarterly earnings data on Monday, April 15th. The investment management company reported $11.58 EPS for the quarter, topping analysts’ consensus estimates of $8.54 by $3.04. The business had revenue of $14.21 billion during the quarter, compared to the consensus estimate of $12.94 billion. The Goldman Sachs Group had a return on equity of 8.65% and a net margin of 8.17%. The business’s revenue for the quarter was up 16.1% on a year-over-year basis. During the same period in the prior year, the firm posted $8.79 EPS.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. First United Bank & Trust acquired a new position in The Goldman Sachs Group in the fourth quarter worth approximately $26,000. Versant Capital Management Inc grew its position 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 buying an additional 34 shares during the last quarter. Cambridge Trust Co. grew its position in The Goldman Sachs Group by 82.0% in the third quarter. Cambridge Trust Co. now owns 91 shares of the investment management company’s stock worth $29,000 after buying an additional 41 shares during the last quarter. Pineridge Advisors LLC acquired a new position in The Goldman Sachs Group in the fourth quarter worth approximately $29,000. Finally, Truvestments Capital LLC grew its position in The Goldman Sachs Group by 88.0% in the third quarter. Truvestments Capital LLC now owns 94 shares of the investment management company’s stock worth $31,000 after buying an additional 44 shares during the last quarter. Institutional investors and hedge funds own 71.21% of the company’s stock.

Insiders Place Their Bets

In other The Goldman Sachs Group news, insider Kathryn H. Ruemmler sold 7,277 shares of the firm’s stock in a transaction dated Tuesday, January 23rd. The shares were 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CFO Denis P. Coleman sold 12,680 shares of the firm’s 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 transaction, the chief financial officer now owns 29,417 shares in the company, valued at $11,602,947.31. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Kathryn H. Ruemmler sold 7,277 shares of the firm’s stock in a transaction that occurred on Tuesday, January 23rd. The shares were sold at an average price of $379.81, for a total transaction of $2,763,877.37. Following the transaction, the insider now 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 valued at $13,950,851 over the last quarter. Insiders own 0.57% of the company’s stock.

The Goldman Sachs Group Dividend Announcement

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 $2.75 dividend. The ex-dividend date is Thursday, May 30th. This represents a $11.00 dividend on an annualized basis and a yield of 2.72%. The Goldman Sachs Group’s dividend 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.