The Goldman Sachs Group, Inc. (NYSE:GS) to Post Q3 2024 Earnings of $8.47 Per Share, Seaport Res Ptn Forecasts

The Goldman Sachs Group, Inc. (NYSE:GS) – Research analysts at Seaport Res Ptn lowered their Q3 2024 EPS estimates for shares of 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 post earnings per share of $8.47 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 $36.49 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.

GS has been the subject of several other reports. Evercore ISI raised their price target on shares of The Goldman Sachs Group from $435.00 to $440.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 16th. Citigroup raised their price target on shares of The Goldman Sachs Group from $410.00 to $425.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 16th. JMP Securities raised 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 note on Tuesday, April 9th. Morgan Stanley decreased their target price on shares of The Goldman Sachs Group from $486.00 to $475.00 and set an “overweight” rating for the company in a research note on Thursday, June 27th. Finally, Daiwa Capital Markets raised shares of The Goldman Sachs Group from a “neutral” rating to an “outperform” rating and raised their target price for the company from $410.00 to $430.00 in a research note on Thursday, March 14th. Seven analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $443.78.

The Goldman Sachs Group Stock Performance

Shares of GS stock opened at $465.74 on Wednesday. The company has a debt-to-equity ratio of 2.18, a quick ratio of 0.74 and a current ratio of 0.74. The company has a market capitalization of $150.18 billion, a P/E ratio of 18.19, a price-to-earnings-growth ratio of 0.91 and a beta of 1.37. The company’s 50 day moving average price is $450.78 and its two-hundred day moving average price is $411.69. The Goldman Sachs Group has a 52 week low of $289.36 and a 52 week high of $471.48.

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 firm had revenue of $14.21 billion for the quarter, compared to the consensus estimate 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 quarterly revenue was up 16.1% on a year-over-year basis. During the same period last year, the company posted $8.79 EPS.

The Goldman Sachs Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, June 27th. Investors of record on Thursday, May 30th were paid a $2.75 dividend. This represents a $11.00 dividend on an annualized basis and a yield of 2.36%. The ex-dividend date was Thursday, May 30th. The Goldman Sachs Group’s dividend payout ratio (DPR) is presently 42.95%.

Insider Activity at The Goldman Sachs Group

In related news, major shareholder Goldman Sachs Group Inc sold 4,000,000 shares of the business’s stock in a transaction dated 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 owns 12,981,022 shares of the company’s stock, valued at $82,299,679.48. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other The Goldman Sachs Group news, Director David A. Viniar sold 5,000 shares of the business’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 completion of 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 legal filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Goldman Sachs Group Inc sold 4,000,000 shares of the business’s stock in a transaction dated 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 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. 0.57% of the stock is owned by insiders.

Institutional Trading of The Goldman Sachs Group

Several hedge funds and other institutional investors have recently made changes to their positions in GS. Ameriprise Financial Inc. grew its holdings in shares of The Goldman Sachs Group by 11.2% during the third quarter. Ameriprise Financial Inc. now owns 801,784 shares of the investment management company’s stock worth $259,454,000 after purchasing an additional 80,674 shares during the last quarter. Legacy Advisors LLC raised its position in shares of The Goldman Sachs Group by 3.7% during the third quarter. Legacy Advisors LLC now owns 1,046 shares of the investment management company’s stock worth $338,000 after purchasing an additional 37 shares during the period. Laurel Wealth Advisors LLC raised its position in shares of The Goldman Sachs Group by 19.5% during the third quarter. Laurel Wealth Advisors LLC now owns 410 shares of the investment management company’s stock worth $133,000 after purchasing an additional 67 shares during the period. Scotia Capital Inc. raised its position in shares of The Goldman Sachs Group by 2.3% during the third quarter. Scotia Capital Inc. now owns 42,099 shares of the investment management company’s stock worth $13,622,000 after purchasing an additional 942 shares during the period. Finally, Industrial Alliance Investment Management Inc. acquired a new position in shares of The Goldman Sachs Group during the third quarter worth approximately $441,000. 71.21% of the stock is currently owned by institutional investors.

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.