Q3 2024 EPS Estimates for The Goldman Sachs Group, Inc. (NYSE:GS) Decreased by Zacks Research

The Goldman Sachs Group, Inc. (NYSE:GS) – Investment analysts at Zacks Research dropped their Q3 2024 earnings per share estimates for The Goldman Sachs Group in a report released on Tuesday, June 18th. Zacks Research analyst R. Department now expects that the investment management company will post earnings of $7.90 per share for the quarter, down from their previous forecast of $7.98. The consensus estimate for The Goldman Sachs Group’s current full-year earnings is $36.57 per share. Zacks Research also issued estimates for The Goldman Sachs Group’s Q4 2024 earnings at $7.74 EPS, FY2024 earnings at $36.01 EPS, Q2 2025 earnings at $9.83 EPS, Q3 2025 earnings at $9.44 EPS, Q4 2025 earnings at $9.20 EPS, FY2025 earnings at $39.09 EPS and FY2026 earnings at $39.53 EPS.

Several other equities research analysts have also recently commented on GS. Daiwa Capital Markets raised The Goldman Sachs Group from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $410.00 to $430.00 in a report on Thursday, March 14th. Oppenheimer upped their price target on The Goldman Sachs Group from $479.00 to $517.00 and gave the company an “outperform” rating in a report on Tuesday, April 30th. HSBC upped their price target on The Goldman Sachs Group from $460.00 to $470.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. Royal Bank of Canada upped their price target on The Goldman Sachs Group from $390.00 to $405.00 and gave the company a “sector perform” rating in a report on Tuesday, April 16th. Finally, Wells Fargo & Company upped their price target on The Goldman Sachs Group from $450.00 to $504.00 and gave the company an “overweight” rating in a report on Tuesday, May 7th. Six equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat, The Goldman Sachs Group presently has an average rating of “Moderate Buy” and a consensus target price of $440.57.

The Goldman Sachs Group Price Performance

Shares of NYSE:GS opened at $457.30 on Wednesday. The Goldman Sachs Group has a 12 month low of $289.36 and a 12 month high of $471.48. The stock has a market cap of $147.46 billion, a price-to-earnings ratio of 17.86, a PEG ratio of 0.91 and a beta of 1.39. The stock’s 50 day moving average price is $440.99 and its 200 day moving average price is $405.19. The company has a debt-to-equity ratio of 2.18, a current ratio of 0.74 and a quick ratio of 0.74.

The Goldman Sachs Group (NYSE:GS) last announced its earnings results on Monday, April 15th. The investment management company reported $11.58 EPS for the quarter, topping the consensus estimate 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 firm had revenue of $14.21 billion for the quarter, compared to analysts’ expectations of $12.94 billion. During the same quarter in the previous year, the company earned $8.79 earnings per share. The firm’s quarterly revenue was up 16.1% compared to the same quarter last year.

The Goldman Sachs Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 27th. Stockholders of record on Thursday, May 30th will be issued a dividend of $2.75 per share. This represents a $11.00 annualized dividend and a dividend yield of 2.41%. The ex-dividend date is Thursday, May 30th. The Goldman Sachs Group’s dividend payout ratio is currently 42.95%.

Insider Activity

In other news, major shareholder Goldman Sachs Group Inc sold 4,000,000 shares of the business’s stock in a transaction on 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 transaction, the insider now directly owns 12,981,022 shares in the company, valued at approximately $82,299,679.48. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, major shareholder Goldman Sachs Group Inc sold 4,000,000 shares of the business’s stock in a transaction on 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 transaction, the insider now directly owns 12,981,022 shares in the company, valued at approximately $82,299,679.48. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director David A. Viniar sold 5,000 shares of the business’s stock in a transaction on Monday, April 29th. The shares were 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 in the company, valued at $269,475,456.25. The disclosure for this sale can be found here. 0.57% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On The Goldman Sachs Group

Large investors have recently bought and sold shares of the business. First Personal Financial Services bought a new stake in The Goldman Sachs Group in the first quarter worth $25,000. Versant Capital Management Inc boosted its holdings in The Goldman Sachs Group by 106.3% in the first quarter. Versant Capital Management Inc now owns 66 shares of the investment management company’s stock worth $28,000 after purchasing an additional 34 shares in the last quarter. First United Bank & Trust bought a new stake in The Goldman Sachs Group in the fourth quarter worth $26,000. Pineridge Advisors LLC acquired a new position in The Goldman Sachs Group during the 4th quarter worth $29,000. Finally, LifeSteps Financial Inc. acquired a new position in The Goldman Sachs Group during the 1st quarter worth $33,000. 71.21% of the stock is currently owned by institutional investors.

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.