The Goldman Sachs Group, Inc. (NYSE:GS) to Post Q3 2024 Earnings of $8.47 Per Share, Seaport Res Ptn Forecasts

The Goldman Sachs Group, Inc. (NYSE:GS) – Seaport Res Ptn decreased their Q3 2024 earnings estimates for shares of The Goldman Sachs Group in a report issued on Tuesday, July 2nd. Seaport Res Ptn analyst J. Mitchell now forecasts that the investment management company will earn $8.47 per share for the quarter, down from their prior estimate of $8.49. Seaport Res Ptn currently has a “Hold” rating on the stock. The consensus estimate for The Goldman Sachs Group’s current full-year earnings is $36.49 per share. Seaport Res Ptn also issued estimates for The Goldman Sachs Group’s Q4 2024 earnings at $7.61 EPS, FY2024 earnings at $36.20 EPS, Q1 2025 earnings at $11.56 EPS, Q3 2025 earnings at $9.68 EPS, Q4 2025 earnings at $8.60 EPS and FY2025 earnings at $39.50 EPS.

A number of other research firms also recently commented on GS. BMO Capital Markets increased their target price on shares of 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. JMP Securities increased their target price on shares of The Goldman Sachs Group from $440.00 to $460.00 and gave the company a “market outperform” rating in a research report on Tuesday, April 9th. Bank of America increased their price target on shares of The Goldman Sachs Group from $450.00 to $478.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. Keefe, Bruyette & Woods increased their price target on shares of The Goldman Sachs Group from $485.00 to $520.00 and gave the stock an “outperform” rating in a research note on Thursday, June 27th. Finally, HSBC increased 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. Seven research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $443.78.

The Goldman Sachs Group Trading Up 0.4 %

NYSE GS opened at $465.74 on Wednesday. The company has a debt-to-equity ratio of 2.18, a current ratio of 0.74 and a quick ratio of 0.74. The firm’s fifty day moving average price is $450.78 and its 200 day moving average price is $411.69. The company has a market capitalization of $150.18 billion, a price-to-earnings ratio of 18.19, a price-to-earnings-growth ratio of 0.91 and a beta of 1.37. The Goldman Sachs Group has a 12 month low of $289.36 and a 12 month high of $471.48.

The Goldman Sachs Group (NYSE:GS) last announced its quarterly earnings data on Monday, April 15th. The investment management company reported $11.58 EPS for the quarter, beating analysts’ consensus estimates of $8.54 by $3.04. The Goldman Sachs Group had a net margin of 8.17% and a return on equity of 8.86%. The company 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 firm posted $8.79 EPS. The company’s quarterly revenue was up 16.1% compared to the same quarter last year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. International Assets Investment Management LLC acquired a new position in shares of The Goldman Sachs Group in the 1st quarter valued at about $1,903,374,000. Norges Bank acquired a new position in shares of The Goldman Sachs Group in the 4th quarter valued at about $1,120,119,000. Wellington Management Group LLP boosted its holdings in shares of The Goldman Sachs Group by 27.0% in the 4th quarter. Wellington Management Group LLP now owns 2,184,196 shares of the investment management company’s stock valued at $842,597,000 after buying an additional 464,954 shares during the period. Morgan Stanley boosted its holdings in shares of The Goldman Sachs Group by 7.8% in the 3rd quarter. Morgan Stanley now owns 5,693,331 shares of the investment management company’s stock valued at $1,842,192,000 after buying an additional 412,383 shares during the period. Finally, Verity & Verity LLC boosted its holdings in shares of The Goldman Sachs Group by 26,378.2% in the 1st quarter. Verity & Verity LLC now owns 407,764 shares of the investment management company’s stock valued at $170,000 after buying an additional 406,224 shares during the period. 71.21% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

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 transaction of $2,161,250.00. Following the sale, the director now owns 623,425 shares in the company, valued at $269,475,456.25. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, major shareholder Goldman Sachs Group Inc sold 4,000,000 shares of the firm’s stock in a transaction on 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 owns 12,981,022 shares of the company’s stock, valued at approximately $82,299,679.48. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director David A. Viniar sold 5,000 shares of the firm’s stock in a transaction on 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 completion of the transaction, the director now directly owns 623,425 shares in the company, valued at approximately $269,475,456.25. The disclosure for this sale can be found here. 0.57% of the stock is owned by company insiders.

The Goldman Sachs Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, June 27th. Investors of record on Thursday, May 30th were given a dividend of $2.75 per share. The ex-dividend date was Thursday, May 30th. This represents a $11.00 dividend on an annualized basis and a yield of 2.36%. The Goldman Sachs Group’s dividend payout ratio (DPR) 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.