The Goldman Sachs Group, Inc. (NYSE:GS) Expected to Post Q2 2024 Earnings of $8.67 Per Share

The Goldman Sachs Group, Inc. (NYSE:GS) – Equities research analysts at Zacks Research reduced their Q2 2024 earnings per share (EPS) estimates for shares of The Goldman Sachs Group in a research report issued on Tuesday, June 25th. Zacks Research analyst R. Department now forecasts that the investment management company will post earnings of $8.67 per share for the quarter, down from their previous forecast of $8.79. The consensus estimate for The Goldman Sachs Group’s current full-year earnings is $36.59 per share. Zacks Research also issued estimates for The Goldman Sachs Group’s Q3 2024 earnings at $7.78 EPS, Q4 2024 earnings at $7.63 EPS, FY2024 earnings at $35.67 EPS, Q2 2025 earnings at $9.79 EPS and Q3 2025 earnings at $9.42 EPS.

The Goldman Sachs Group (NYSE:GS) last issued its quarterly earnings data 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 business had revenue of $14.21 billion for the quarter, compared to analysts’ expectations of $12.94 billion. The Goldman Sachs Group had a net margin of 8.17% and a return on equity of 8.86%. The business’s revenue was up 16.1% on a year-over-year basis. During the same quarter last year, the company earned $8.79 EPS.

A number of other brokerages also recently issued reports on GS. Daiwa Capital Markets upgraded The Goldman Sachs Group from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $410.00 to $430.00 in a research report on Thursday, March 14th. HSBC lifted their price target on shares of The Goldman Sachs Group from $460.00 to $470.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. Citigroup upped their price objective on shares of The Goldman Sachs Group from $410.00 to $425.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 16th. Morgan Stanley dropped their target price on shares of The Goldman Sachs Group from $486.00 to $475.00 and set an “overweight” rating on the stock in a research report on Thursday. Finally, JMP Securities upped their price target on shares of The Goldman Sachs Group from $440.00 to $460.00 and gave the stock a “market outperform” rating in a research report on Tuesday, April 9th. Six analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat, The Goldman Sachs Group presently has an average rating of “Moderate Buy” and a consensus price target of $443.78.

The Goldman Sachs Group Price Performance

NYSE:GS opened at $452.32 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 Goldman Sachs Group has a 52 week low of $289.36 and a 52 week high of $471.48. The stock’s 50-day moving average price is $449.86 and its 200-day moving average price is $410.39. The stock has a market capitalization of $145.86 billion, a PE ratio of 17.66, a price-to-earnings-growth ratio of 0.92 and a beta of 1.39.

Hedge Funds Weigh In On The Goldman Sachs Group

Hedge funds and other institutional investors have recently bought and sold shares of the company. SRN Advisors LLC lifted its holdings in The Goldman Sachs Group by 17.4% during the 1st quarter. SRN Advisors LLC now owns 3,022 shares of the investment management company’s stock worth $1,262,000 after buying an additional 448 shares in the last quarter. Cypress Asset Management Inc. TX raised its stake in shares of The Goldman Sachs Group by 0.7% in the first quarter. Cypress Asset Management Inc. TX now owns 5,836 shares of the investment management company’s stock valued at $2,438,000 after acquiring an additional 40 shares in the last quarter. EverSource Wealth Advisors LLC boosted its holdings in The Goldman Sachs Group by 1.7% in the first quarter. EverSource Wealth Advisors LLC now owns 4,419 shares of the investment management company’s stock valued at $1,886,000 after purchasing an additional 74 shares during the period. DekaBank Deutsche Girozentrale boosted its holdings in The Goldman Sachs Group by 2.7% in the first quarter. DekaBank Deutsche Girozentrale now owns 189,710 shares of the investment management company’s stock valued at $78,753,000 after purchasing an additional 4,937 shares during the period. Finally, Tactive Advisors LLC acquired a new position in The Goldman Sachs Group during the 1st quarter worth $218,000. 71.21% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

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

The Goldman Sachs Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, June 27th. Shareholders of record on Thursday, May 30th were issued a $2.75 dividend. The ex-dividend date was Thursday, May 30th. This represents a $11.00 annualized dividend and a yield of 2.43%. The Goldman Sachs Group’s payout ratio is 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.