Q2 2024 Earnings Forecast for The Goldman Sachs Group, Inc. (NYSE:GS) Issued By Zacks Research

The Goldman Sachs Group, Inc. (NYSE:GS) – Analysts at Zacks Research cut their Q2 2024 earnings estimates for The Goldman Sachs Group in a research report issued to clients and investors on Tuesday, June 18th. Zacks Research analyst R. Department now expects that the investment management company will earn $8.79 per share for the quarter, down from their previous estimate of $8.86. The consensus estimate for The Goldman Sachs Group’s current full-year earnings is $36.63 per share. Zacks Research also issued estimates for The Goldman Sachs Group’s Q1 2025 earnings at $10.63 EPS and Q1 2026 earnings at $11.19 EPS.

GS has been the subject of a number of other reports. BMO Capital Markets increased their price target on The Goldman Sachs Group from $349.00 to $360.00 and gave the company a “market perform” rating in a research report on Tuesday, April 16th. Royal Bank of Canada boosted their price target on shares of The Goldman Sachs Group from $390.00 to $405.00 and gave the stock a “sector perform” rating in a report on Tuesday, April 16th. Bank of America lifted their price objective on shares of The Goldman Sachs Group from $450.00 to $478.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. Oppenheimer increased their target price on shares of The Goldman Sachs Group from $479.00 to $517.00 and gave the company an “outperform” rating in a research report on Tuesday, April 30th. Finally, HSBC raised their price target on shares of The Goldman Sachs Group from $460.00 to $470.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. Six investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat, The Goldman Sachs Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $440.57.

The Goldman Sachs Group Trading Up 0.1 %

Shares of GS stock opened at $457.94 on Friday. The company has a debt-to-equity ratio of 2.18, a quick ratio of 0.74 and a current ratio of 0.74. The company has a market capitalization of $147.67 billion, a price-to-earnings ratio of 17.88, a PEG ratio of 0.92 and a beta of 1.39. The Goldman Sachs Group has a 52-week low of $289.36 and a 52-week high of $471.48. The company has a 50-day simple moving average of $443.33 and a two-hundred day simple moving average of $405.92.

The Goldman Sachs Group (NYSE:GS) last issued its quarterly earnings data on Monday, April 15th. The investment management company reported $11.58 earnings per share for the quarter, beating the consensus estimate of $8.54 by $3.04. The business had revenue of $14.21 billion for 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 business’s revenue was up 16.1% on a year-over-year basis. During the same period last year, the business earned $8.79 EPS.

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 issued a $2.75 dividend. The ex-dividend date is Thursday, May 30th. This represents a $11.00 annualized dividend and a dividend yield of 2.40%. The Goldman Sachs Group’s payout ratio is currently 42.95%.

Insider Activity

In related news, Director David A. Viniar sold 5,000 shares of the firm’s stock in a transaction that occurred on 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 sale, the director now directly owns 623,425 shares of the company’s stock, valued at $269,475,456.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other The Goldman Sachs Group news, Director David A. Viniar sold 5,000 shares of The Goldman Sachs Group stock in a transaction dated 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 sale, the director now owns 623,425 shares of the company’s stock, valued at $269,475,456.25. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder Goldman Sachs Group Inc sold 4,000,000 shares of the firm’s stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $6.34, for a total value of $25,360,000.00. Following the transaction, the insider now directly owns 12,981,022 shares in the company, valued at $82,299,679.48. The disclosure for this sale can be found here. Corporate insiders own 0.54% of the company’s stock.

Institutional Investors Weigh In On The Goldman Sachs Group

Institutional investors have recently made changes to their positions in the business. V Square Quantitative Management LLC bought a new stake in shares of The Goldman Sachs Group in the 3rd quarter valued at about $187,000. Clearbridge Investments LLC boosted its stake in shares of The Goldman Sachs Group by 18.2% during the third quarter. Clearbridge Investments LLC now owns 187,164 shares of the investment management company’s stock valued at $60,561,000 after purchasing an additional 28,787 shares during the period. LPL Financial LLC grew its holdings in shares of The Goldman Sachs Group by 4.5% in the third quarter. LPL Financial LLC now owns 207,885 shares of the investment management company’s stock worth $67,266,000 after purchasing an additional 8,879 shares during the last quarter. Mariner LLC increased its stake in shares of The Goldman Sachs Group by 3.2% in the third quarter. Mariner LLC now owns 57,224 shares of the investment management company’s stock worth $18,516,000 after buying an additional 1,755 shares during the period. Finally, Citizens Financial Group Inc. RI raised its holdings in The Goldman Sachs Group by 34.7% during the 3rd quarter. Citizens Financial Group Inc. RI now owns 1,321 shares of the investment management company’s stock valued at $427,000 after buying an additional 340 shares during the last quarter. Hedge funds and other institutional investors own 71.21% of the company’s stock.

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.