Q2 2024 EPS Estimates for The Goldman Sachs Group, Inc. Increased by Analyst (NYSE:GS)

The Goldman Sachs Group, Inc. (NYSE:GS) – Analysts at Seaport Res Ptn raised their Q2 2024 earnings per share estimates for The Goldman Sachs Group in a research report issued on Tuesday, July 2nd. Seaport Res Ptn analyst J. Mitchell now expects that the investment management company will earn $8.51 per share for the quarter, up from their prior forecast of $8.26. Seaport Res Ptn has a “Hold” rating on the stock. The consensus estimate for The Goldman Sachs Group’s current full-year earnings is $36.52 per share. Seaport Res Ptn also issued estimates for The Goldman Sachs Group’s Q2 2025 earnings at $9.67 EPS.

The Goldman Sachs Group (NYSE:GS) last released its quarterly earnings results 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 Goldman Sachs Group had a return on equity of 8.86% and a net margin of 8.17%. The company had revenue of $14.21 billion for the quarter, compared to analysts’ expectations of $12.94 billion. During the same period in the prior year, the firm earned $8.79 earnings per share. The firm’s revenue was up 16.1% compared to the same quarter last year.

A number of other research analysts have also recently commented on the company. BMO Capital Markets upped their price target on The Goldman Sachs Group from $349.00 to $360.00 and gave the stock a “market perform” rating in a research note on Tuesday, April 16th. JMP Securities increased their price objective on The Goldman Sachs Group from $440.00 to $460.00 and gave the company a “market outperform” rating in a research note on Tuesday, April 9th. Citigroup increased their price objective on The Goldman Sachs Group from $410.00 to $425.00 and gave the company a “neutral” rating in a research note on Tuesday, April 16th. Evercore ISI increased their price objective on The Goldman Sachs Group from $440.00 to $475.00 and gave the company an “outperform” rating in a research note on Wednesday. Finally, Wells Fargo & Company increased their price objective on The Goldman Sachs Group from $450.00 to $504.00 and gave the company an “overweight” rating in a research note on Tuesday, May 7th. Seven analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat.com, The Goldman Sachs Group has a consensus rating of “Moderate Buy” and an average price target of $445.62.

The Goldman Sachs Group Stock Up 0.5 %

NYSE:GS opened at $467.92 on Thursday. 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 stock’s fifty day moving average is $452.52 and its two-hundred day moving average is $412.68. 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 $150.89 billion, a price-to-earnings ratio of 18.27, a price-to-earnings-growth ratio of 0.94 and a beta of 1.37.

Institutional Investors Weigh In On The Goldman Sachs Group

Several hedge funds have recently made changes to their positions in GS. Ameriprise Financial Inc. lifted its position in The Goldman Sachs Group by 11.2% in the third quarter. Ameriprise Financial Inc. now owns 801,784 shares of the investment management company’s stock valued at $259,454,000 after purchasing an additional 80,674 shares during the period. Legacy Advisors LLC lifted its position in shares of The Goldman Sachs Group by 3.7% during the 3rd quarter. Legacy Advisors LLC now owns 1,046 shares of the investment management company’s stock valued at $338,000 after acquiring an additional 37 shares during the period. Scotia Capital Inc. lifted its position in shares of The Goldman Sachs Group by 2.3% during the 3rd quarter. Scotia Capital Inc. now owns 42,099 shares of the investment management company’s stock valued at $13,622,000 after acquiring an additional 942 shares during the period. Industrial Alliance Investment Management Inc. acquired a new stake in shares of The Goldman Sachs Group during the 3rd quarter valued at approximately $441,000. Finally, Crestwood Advisors Group LLC acquired a new stake in shares of The Goldman Sachs Group during the 3rd quarter valued at approximately $3,535,000. Institutional investors and hedge funds own 71.21% of the company’s stock.

Insiders Place Their Bets

In other The Goldman Sachs Group news, Director David A. Viniar sold 5,000 shares of the firm’s 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 transaction, 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 accessible through the SEC website. In other news, major shareholder Goldman Sachs Group Inc sold 4,000,000 shares of the stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $6.34, for a total transaction of $25,360,000.00. Following the completion of the sale, the insider now owns 12,981,022 shares in the company, valued at $82,299,679.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director David A. Viniar sold 5,000 shares of the 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 sale, the director now owns 623,425 shares of the company’s stock, valued at approximately $269,475,456.25. The disclosure for this sale can be found here. Corporate insiders own 0.57% of the company’s stock.

The Goldman Sachs Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 27th. Shareholders of record on Thursday, May 30th were issued a dividend of $2.75 per share. This represents a $11.00 annualized dividend and a dividend yield of 2.35%. The ex-dividend date of this dividend was Thursday, May 30th. The Goldman Sachs Group’s payout ratio is 42.95%.

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.