Q3 2024 Earnings Estimate for The Goldman Sachs Group, Inc. Issued By Seaport Res Ptn (NYSE:GS)

The Goldman Sachs Group, Inc. (NYSE:GS) – Stock analysts at Seaport Res Ptn cut their Q3 2024 earnings per share estimates for The Goldman Sachs Group in a report released 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 previous 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 $36.52 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.

The Goldman Sachs Group (NYSE:GS) last posted its earnings results on Monday, April 15th. The investment management company reported $11.58 EPS for the quarter, beating the consensus estimate of $8.54 by $3.04. The company had revenue of $14.21 billion during the quarter, compared to analyst estimates of $12.94 billion. The Goldman Sachs Group had a return on equity of 8.86% and a net margin of 8.17%. The business’s revenue was up 16.1% compared to the same quarter last year. During the same period in the prior year, the company earned $8.79 earnings per share.

GS has been the subject of a number of other reports. Daiwa Capital Markets raised The Goldman Sachs Group from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $410.00 to $430.00 in a report on Thursday, March 14th. Argus raised The Goldman Sachs Group from a “hold” rating to a “buy” rating and set a $465.00 price objective for the company in a report on Tuesday, April 16th. Royal Bank of Canada increased their price objective on The Goldman Sachs Group from $390.00 to $405.00 and gave the stock a “sector perform” rating in a report on Tuesday, April 16th. Bank of America upped their target price on The Goldman Sachs Group from $450.00 to $478.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. Finally, Evercore ISI upped their target price on The Goldman Sachs Group from $440.00 to $475.00 and gave the stock an “outperform” rating in a research report on Wednesday. Seven investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $445.62.

The Goldman Sachs Group Stock Performance

Shares of GS stock opened at $467.92 on Wednesday. The Goldman Sachs Group has a 12-month low of $289.36 and a 12-month high of $471.48. The firm 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. The business has a 50 day simple moving average of $452.52 and a 200 day simple moving average of $412.68. The company has a debt-to-equity ratio of 2.18, a current ratio of 0.74 and a quick ratio of 0.74.

Institutional Trading of The Goldman Sachs Group

Several hedge funds and other institutional investors have recently modified their holdings of the business. Capital World Investors raised its holdings in shares of The Goldman Sachs Group by 6.0% during the fourth quarter. Capital World Investors now owns 6,012,564 shares of the investment management company’s stock worth $2,319,470,000 after acquiring an additional 338,181 shares in the last quarter. Morgan Stanley raised its holdings in The Goldman Sachs Group by 7.8% during the third 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 in the last quarter. Fisher Asset Management LLC raised its holdings in The Goldman Sachs Group by 2.8% during the fourth quarter. Fisher Asset Management LLC now owns 5,518,035 shares of the investment management company’s stock valued at $2,128,693,000 after buying an additional 152,474 shares in the last quarter. Massachusetts Financial Services Co. MA raised its holdings in The Goldman Sachs Group by 0.5% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 5,195,203 shares of the investment management company’s stock valued at $2,004,153,000 after buying an additional 27,524 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD raised its holdings in The Goldman Sachs Group by 5.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 4,953,461 shares of the investment management company’s stock valued at $1,910,897,000 after buying an additional 274,989 shares in the last quarter. Institutional investors and hedge funds own 71.21% of the company’s stock.

Insider Activity

In other news, Director David A. Viniar sold 5,000 shares of the stock in a transaction on Monday, April 29th. The stock was sold at an average price of $432.25, for a total value of $2,161,250.00. Following the completion of the sale, the director now owns 623,425 shares in the company, valued at $269,475,456.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director David A. Viniar sold 5,000 shares of the firm’s stock in a transaction on Monday, April 29th. The stock was sold at an average price of $432.25, for a total value of $2,161,250.00. Following the completion of the sale, the director now owns 623,425 shares of the company’s stock, valued at $269,475,456.25. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 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 completion of the sale, the insider now directly owns 12,981,022 shares of the company’s stock, valued at approximately $82,299,679.48. The disclosure for this sale can be found here. Insiders own 0.57% of the company’s stock.

The Goldman Sachs Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 27th. Stockholders 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 dividend yield of 2.35%. The Goldman Sachs Group’s dividend payout ratio (DPR) is presently 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.