Zacks Research Weighs in on The Goldman Sachs Group, Inc.’s Q3 2024 Earnings (NYSE:GS)

The Goldman Sachs Group, Inc. (NYSE:GS) – Zacks Research decreased their Q3 2024 earnings per share estimates for shares of The Goldman Sachs Group in a research note issued to investors on Tuesday, June 18th. Zacks Research analyst R. Department now expects that the investment management company will earn $7.90 per share for the quarter, down from their prior estimate of $7.98. The consensus estimate for The Goldman Sachs Group’s current full-year earnings is $36.57 per share. Zacks Research also issued estimates for The Goldman Sachs Group’s Q4 2024 earnings at $7.74 EPS, FY2024 earnings at $36.01 EPS, Q2 2025 earnings at $9.83 EPS, Q3 2025 earnings at $9.44 EPS, Q4 2025 earnings at $9.20 EPS, FY2025 earnings at $39.09 EPS and FY2026 earnings at $39.53 EPS.

The Goldman Sachs Group (NYSE:GS) last issued its earnings results on Monday, April 15th. The investment management company reported $11.58 earnings per share (EPS) for the quarter, beating the consensus estimate 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 8.86% and a net margin of 8.17%. The firm’s quarterly revenue was up 16.1% on a year-over-year basis. During the same period in the prior year, the business earned $8.79 EPS.

A number of other equities research analysts have also recently weighed in on GS. Royal Bank of Canada boosted their price target on shares of The Goldman Sachs Group from $390.00 to $405.00 and gave the company a “sector perform” rating in a research report on Tuesday, April 16th. Edward Jones began coverage on The Goldman Sachs Group in a report on Tuesday, February 27th. They set a “buy” rating on the stock. JPMorgan Chase & Co. upped their price objective on shares of The Goldman Sachs Group from $424.00 to $433.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 16th. Wells Fargo & Company increased their price target on shares of The Goldman Sachs Group from $450.00 to $504.00 and gave the stock an “overweight” rating in a report on Tuesday, May 7th. Finally, Evercore ISI raised their price target on The Goldman Sachs Group from $435.00 to $440.00 and gave the company an “outperform” rating in a report on Tuesday, April 16th. Six investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat.com, The Goldman Sachs Group currently has a consensus rating of “Moderate Buy” and an average price target of $440.57.

The Goldman Sachs Group Stock Performance

Shares of GS stock opened at $457.43 on Wednesday. The firm has a 50 day moving average of $442.12 and a two-hundred day moving average of $405.55. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 2.18. The Goldman Sachs Group has a 52 week low of $289.36 and a 52 week high of $471.48. The stock has a market capitalization of $147.50 billion, a PE ratio of 17.86, a P/E/G ratio of 0.91 and a beta of 1.39.

The Goldman Sachs Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 27th. Shareholders 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 2.40%. The Goldman Sachs Group’s dividend payout ratio (DPR) is 42.95%.

Insiders Place Their Bets

In related news, major shareholder Goldman Sachs Group Inc sold 4,000,000 shares of the stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $6.34, for a total value of $25,360,000.00. Following the transaction, the insider now owns 12,981,022 shares in the company, valued at $82,299,679.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at 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 transaction of $2,161,250.00. Following the transaction, the director now owns 623,425 shares in the company, valued at approximately $269,475,456.25. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, major shareholder Goldman Sachs Group Inc sold 4,000,000 shares of the business’s stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $6.34, for a total value of $25,360,000.00. Following the sale, the insider now directly owns 12,981,022 shares of the company’s stock, valued at $82,299,679.48. The disclosure for this sale can be found here. Corporate insiders own 0.57% of the company’s stock.

Institutional Trading of The Goldman Sachs Group

A number of large investors have recently bought and sold shares of GS. SRN Advisors LLC boosted its position in The Goldman Sachs Group by 17.4% during the first quarter. SRN Advisors LLC now owns 3,022 shares of the investment management company’s stock worth $1,262,000 after purchasing an additional 448 shares during the period. Cypress Asset Management Inc. TX boosted its holdings in The Goldman Sachs Group by 0.7% in the first quarter. Cypress Asset Management Inc. TX now owns 5,836 shares of the investment management company’s stock valued at $2,438,000 after acquiring an additional 40 shares during the last quarter. EverSource Wealth Advisors LLC increased its holdings in The Goldman Sachs Group by 1.7% in the first quarter. EverSource Wealth Advisors LLC now owns 4,419 shares of the investment management company’s stock worth $1,886,000 after purchasing an additional 74 shares in the last quarter. DekaBank Deutsche Girozentrale lifted its holdings in shares of The Goldman Sachs Group by 2.7% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 189,710 shares of the investment management company’s stock worth $78,753,000 after purchasing an additional 4,937 shares in the last quarter. Finally, Tactive Advisors LLC bought a new position in shares of The Goldman Sachs Group during the first quarter valued at about $218,000. 71.21% of the stock is owned by institutional investors.

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.