Seaport Res Ptn Has Optimistic Outlook of GS FY2024 Earnings

The Goldman Sachs Group, Inc. (NYSE:GS) – Seaport Res Ptn lifted their FY2024 EPS estimates for shares of The Goldman Sachs Group in a report released on Tuesday, January 7th. Seaport Res Ptn analyst J. Mitchell now forecasts that the investment management company will earn $37.22 per share for the year, up from their previous forecast of $36.40. The consensus estimate for The Goldman Sachs Group’s current full-year earnings is $37.06 per share. Seaport Res Ptn also issued estimates for The Goldman Sachs Group’s Q1 2025 earnings at $12.08 EPS, Q2 2025 earnings at $10.32 EPS, Q3 2025 earnings at $10.33 EPS, FY2025 earnings at $42.70 EPS and FY2026 earnings at $48.20 EPS.

A number of other brokerages have also recently commented on GS. Wells Fargo & Company lifted their price objective on shares of The Goldman Sachs Group from $600.00 to $680.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Oppenheimer reduced their price objective on The Goldman Sachs Group from $677.00 to $639.00 and set an “outperform” rating on the stock in a research note on Friday, January 3rd. JPMorgan Chase & Co. raised their price objective on The Goldman Sachs Group from $520.00 to $550.00 and gave the company an “overweight” rating in a research note on Friday, December 6th. Wolfe Research raised The Goldman Sachs Group to a “hold” rating in a research report on Wednesday, September 18th. Finally, Evercore ISI raised their price target on The Goldman Sachs Group from $520.00 to $575.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Eight investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $569.31.

The Goldman Sachs Group Trading Down 3.4 %

GS stock opened at $560.40 on Friday. The firm has a market cap of $175.92 billion, a PE ratio of 16.44, a price-to-earnings-growth ratio of 0.85 and a beta of 1.38. The firm has a fifty day moving average price of $583.74 and a 200 day moving average price of $524.95. The company has a debt-to-equity ratio of 2.32, a quick ratio of 0.67 and a current ratio of 0.67. The Goldman Sachs Group has a fifty-two week low of $372.07 and a fifty-two week high of $612.73.

The Goldman Sachs Group (NYSE:GS) last posted its earnings results on Tuesday, October 15th. The investment management company reported $8.40 EPS for the quarter, topping analysts’ consensus estimates of $6.89 by $1.51. The Goldman Sachs Group had a return on equity of 11.39% and a net margin of 9.89%. The company had revenue of $12.70 billion for the quarter, compared to the consensus estimate of $11.77 billion. During the same period in the previous year, the business earned $5.47 earnings per share. The firm’s revenue for the quarter was up 7.4% on a year-over-year basis.

Insiders Place Their Bets

In related news, insider Brian J. Lee sold 2,000 shares of The Goldman Sachs Group stock in a transaction that occurred on Thursday, October 17th. The shares were sold at an average price of $530.90, for a total transaction of $1,061,800.00. Following the transaction, the insider now directly owns 10,095 shares of the company’s stock, valued at $5,359,435.50. This trade represents a 16.54 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CAO Sheara J. Fredman sold 2,974 shares of the company’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $594.51, for a total value of $1,768,072.74. Following the sale, the chief accounting officer now owns 8,489 shares of the company’s stock, valued at approximately $5,046,795.39. This represents a 25.94 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 22,940 shares of company stock worth $13,717,979 in the last ninety days. 0.54% of the stock is owned by company insiders.

Hedge Funds Weigh In On The Goldman Sachs Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Waddell & Associates LLC boosted its position in shares of The Goldman Sachs Group by 2.1% in the 3rd quarter. Waddell & Associates LLC now owns 896 shares of the investment management company’s stock worth $444,000 after purchasing an additional 18 shares in the last quarter. Wescott Financial Advisory Group LLC boosted its holdings in The Goldman Sachs Group by 0.7% in the third quarter. Wescott Financial Advisory Group LLC now owns 2,719 shares of the investment management company’s stock worth $1,346,000 after acquiring an additional 18 shares in the last quarter. Bank of New Hampshire grew its stake in shares of The Goldman Sachs Group by 8.0% during the fourth quarter. Bank of New Hampshire now owns 243 shares of the investment management company’s stock worth $139,000 after acquiring an additional 18 shares during the last quarter. First Pacific Financial increased its holdings in shares of The Goldman Sachs Group by 0.6% during the third quarter. First Pacific Financial now owns 3,167 shares of the investment management company’s stock valued at $1,568,000 after acquiring an additional 20 shares in the last quarter. Finally, Krane Funds Advisors LLC raised its position in shares of The Goldman Sachs Group by 1.7% in the 3rd quarter. Krane Funds Advisors LLC now owns 1,177 shares of the investment management company’s stock valued at $583,000 after purchasing an additional 20 shares during the last quarter. Hedge funds and other 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.