Seaport Res Ptn Has Bullish Forecast for GS FY2024 Earnings

The Goldman Sachs Group, Inc. (NYSE:GS) – Research analysts at Seaport Res Ptn lifted their FY2024 EPS estimates for The Goldman Sachs Group in a research note issued on Wednesday, October 16th. Seaport Res Ptn analyst J. Mitchell now anticipates that the investment management company will post earnings of $36.40 per share for the year, up from their previous forecast of $34.75. Seaport Res Ptn has a “Hold” rating on the stock. The consensus estimate for The Goldman Sachs Group’s current full-year earnings is $35.52 per share. Seaport Res Ptn also issued estimates for The Goldman Sachs Group’s Q4 2024 earnings at $7.73 EPS, Q1 2025 earnings at $11.91 EPS and Q4 2025 earnings at $9.00 EPS.

Several other research firms also recently issued reports on GS. Oppenheimer upped their price objective on The Goldman Sachs Group from $577.00 to $614.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Wells Fargo & Company raised their price target on shares of The Goldman Sachs Group from $504.00 to $550.00 and gave the company an “overweight” rating in a research note on Tuesday, July 16th. Morgan Stanley boosted their price objective on shares of The Goldman Sachs Group from $560.00 to $570.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. Citigroup lifted their target price on The Goldman Sachs Group from $460.00 to $485.00 and gave the stock a “neutral” rating in a report on Tuesday, July 16th. Finally, Keefe, Bruyette & Woods increased their price target on The Goldman Sachs Group from $555.00 to $570.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Five research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $524.69.

The Goldman Sachs Group Stock Down 0.1 %

Shares of GS opened at $528.50 on Monday. The stock has a market capitalization of $170.42 billion, a price-to-earnings ratio of 20.64, a PEG ratio of 0.77 and a beta of 1.36. The Goldman Sachs Group has a 52 week low of $289.36 and a 52 week high of $540.51. The company has a debt-to-equity ratio of 2.20, a quick ratio of 0.72 and a current ratio of 0.72. The stock has a fifty day moving average of $498.15 and a 200-day moving average of $469.85.

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 firm had revenue of $12.70 billion during the quarter, compared to analysts’ expectations of $11.77 billion. The Goldman Sachs Group had a net margin of 9.36% and a return on equity of 10.56%. The business’s revenue for the quarter was up 7.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $5.47 earnings per share.

The Goldman Sachs Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Monday, December 2nd will be issued a $3.00 dividend. The ex-dividend date is Monday, December 2nd. This represents a $12.00 annualized dividend and a dividend yield of 2.27%. The Goldman Sachs Group’s dividend payout ratio is currently 46.86%.

Insider Activity at The Goldman Sachs Group

In related news, insider Brian J. Lee sold 2,000 shares of the company’s stock in a transaction 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 completion of the sale, the insider now directly owns 10,095 shares in the company, valued at $5,359,435.50. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.54% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On The Goldman Sachs Group

Several institutional investors and hedge funds have recently bought and sold shares of GS. Park Avenue Securities LLC boosted its position in The Goldman Sachs Group by 3.0% during the 1st quarter. Park Avenue Securities LLC now owns 5,358 shares of the investment management company’s stock valued at $2,238,000 after acquiring an additional 154 shares in the last quarter. RFG Advisory LLC raised its holdings in The Goldman Sachs Group by 9.5% in the first quarter. RFG Advisory LLC now owns 2,401 shares of the investment management company’s stock worth $1,003,000 after purchasing an additional 208 shares in the last quarter. &PARTNERS raised its holdings in The Goldman Sachs Group by 33.0% in the first quarter. &PARTNERS now owns 919 shares of the investment management company’s stock worth $384,000 after purchasing an additional 228 shares in the last quarter. Douglas Lane & Associates LLC lifted its position in The Goldman Sachs Group by 26.1% during the first quarter. Douglas Lane & Associates LLC now owns 1,086 shares of the investment management company’s stock valued at $454,000 after buying an additional 225 shares during the period. Finally, Northwest Investment Counselors LLC purchased a new stake in shares of The Goldman Sachs Group in the 1st quarter worth about $66,000. 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.