Q2 2024 Earnings Forecast for The Goldman Sachs Group, Inc. (NYSE:GS) Issued By Seaport Res Ptn

The Goldman Sachs Group, Inc. (NYSE:GS) – Equities research analysts at Seaport Res Ptn raised their Q2 2024 earnings per share (EPS) estimates for The Goldman Sachs Group in a research report issued to clients and investors on Tuesday, July 2nd. Seaport Res Ptn analyst J. Mitchell now forecasts that the investment management company will earn $8.51 per share for the quarter, up from their prior estimate of $8.26. 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 Q2 2025 earnings at $9.67 EPS.

A number of other equities analysts also recently commented on the company. Royal Bank of Canada upped their target price 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. HSBC increased their price objective on The Goldman Sachs Group from $460.00 to $470.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. Keefe, Bruyette & Woods increased their price objective on The Goldman Sachs Group from $485.00 to $520.00 and gave the stock an “outperform” rating in a report on Thursday, June 27th. Wells Fargo & Company increased their price objective on The Goldman Sachs Group from $450.00 to $504.00 and gave the stock an “overweight” rating in a report on Tuesday, May 7th. Finally, Citigroup increased their price objective on The Goldman Sachs Group from $410.00 to $425.00 and gave the stock a “neutral” rating in a report on Tuesday, April 16th. Seven research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $445.62.

The Goldman Sachs Group Price Performance

Shares of The Goldman Sachs Group stock opened at $467.85 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 company has a market cap of $150.86 billion, a PE ratio of 18.27, a P/E/G ratio of 0.91 and a beta of 1.37. The business has a 50 day moving average of $451.62 and a 200 day moving average of $412.29. 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 released its quarterly earnings data on Monday, April 15th. The investment management company reported $11.58 earnings per share for the quarter, beating analysts’ consensus estimates of $8.54 by $3.04. The firm 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 quarterly revenue was up 16.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $8.79 earnings per share.

The Goldman Sachs Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 27th. Investors 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 annualized dividend and a dividend yield of 2.35%. The Goldman Sachs Group’s dividend payout ratio (DPR) is presently 42.95%.

Insider Activity at The Goldman Sachs Group

In other The Goldman Sachs Group news, major shareholder Goldman Sachs Group Inc sold 4,000,000 shares of the firm’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 $82,299,679.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other The Goldman Sachs Group news, Director David A. Viniar sold 5,000 shares of the firm’s stock in a transaction dated 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 transaction, the director now directly 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 Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Goldman Sachs Group Inc sold 4,000,000 shares of the firm’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 directly owns 12,981,022 shares in the company, valued at $82,299,679.48. The disclosure for this sale can be found here. 0.57% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Moody National Bank Trust Division lifted its position in shares of The Goldman Sachs Group by 6.4% during the 2nd quarter. Moody National Bank Trust Division now owns 3,304 shares of the investment management company’s stock valued at $1,494,000 after buying an additional 198 shares in the last quarter. Hudson Valley Investment Advisors Inc. ADV lifted its position in shares of The Goldman Sachs Group by 29.3% during the 2nd quarter. Hudson Valley Investment Advisors Inc. ADV now owns 679 shares of the investment management company’s stock valued at $307,000 after buying an additional 154 shares in the last quarter. Massmutual Trust Co. FSB ADV lifted its position in shares of The Goldman Sachs Group by 6.4% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 12,432 shares of the investment management company’s stock valued at $5,623,000 after buying an additional 753 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of The Goldman Sachs Group by 27.0% during the 2nd quarter. GAMMA Investing LLC now owns 4,940 shares of the investment management company’s stock valued at $2,235,000 after buying an additional 1,049 shares in the last quarter. Finally, Davis Capital Management purchased a new position in shares of The Goldman Sachs Group during the 2nd quarter valued at about $47,000. 71.21% of the stock is owned by hedge funds and other 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.