Seaport Res Ptn Has Optimistic Outlook of GS FY2024 Earnings

The Goldman Sachs Group, Inc. (NYSE:GS) – Equities research analysts at Seaport Res Ptn increased their FY2024 earnings per share estimates for The Goldman Sachs Group in a research note issued to investors on Wednesday, October 16th. Seaport Res Ptn analyst J. Mitchell now forecasts that the investment management company will earn $36.40 per share for the year, up from their prior estimate of $34.75. 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 $35.52 per share. Seaport Res Ptn also issued estimates for The Goldman Sachs Group’s Q4 2024 earnings at $7.73 EPS, Q1 2025 earnings at $11.91 EPS and Q4 2025 earnings at $9.00 EPS.

GS has been the subject of a number of other reports. Morgan Stanley boosted their price objective on The Goldman Sachs Group from $560.00 to $570.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. Citigroup upped their price objective on shares of The Goldman Sachs Group from $460.00 to $485.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 16th. Wells Fargo & Company boosted their target price on shares of The Goldman Sachs Group from $504.00 to $550.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 16th. Keefe, Bruyette & Woods raised their price target on shares of The Goldman Sachs Group from $555.00 to $570.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Finally, JPMorgan Chase & Co. boosted their price objective on The Goldman Sachs Group from $472.00 to $520.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. Five analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $524.69.

The Goldman Sachs Group Stock Performance

GS opened at $517.87 on Monday. The firm has a fifty day moving average price of $498.80 and a 200 day moving average price of $470.64. The Goldman Sachs Group has a 1 year low of $289.36 and a 1 year high of $540.51. The stock has a market cap of $166.99 billion, a P/E ratio of 20.22, a P/E/G ratio of 0.77 and a beta of 1.36. The company has a debt-to-equity ratio of 2.20, a current ratio of 0.72 and a quick ratio of 0.72.

The Goldman Sachs Group (NYSE:GS) last issued its quarterly earnings data on Tuesday, October 15th. The investment management company reported $8.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.89 by $1.51. The business had revenue of $12.70 billion during the quarter, compared to analysts’ expectations of $11.77 billion. The Goldman Sachs Group had a return on equity of 10.56% and a net margin of 9.36%. The company’s revenue for the quarter was up 7.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $5.47 EPS.

The Goldman Sachs Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Monday, December 2nd will be issued a $3.00 dividend. The ex-dividend date is Monday, December 2nd. This represents a $12.00 annualized dividend and a yield of 2.32%. The Goldman Sachs Group’s dividend payout ratio (DPR) is presently 46.86%.

Insider Buying and Selling at The Goldman Sachs Group

In related news, insider Brian J. Lee sold 2,000 shares of the firm’s stock in a transaction dated Thursday, October 17th. The stock was sold at an average price of $530.90, for a total transaction of $1,061,800.00. Following the completion of the transaction, the insider now directly owns 10,095 shares in the company, valued at $5,359,435.50. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.54% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of GS. POM Investment Strategies LLC acquired a new stake in The Goldman Sachs Group in the second quarter valued at $26,000. Semmax Financial Advisors Inc. purchased a new position in shares of The Goldman Sachs Group in the 2nd quarter valued at about $26,000. Headlands Technologies LLC acquired a new stake in shares of The Goldman Sachs Group during the 2nd quarter worth about $27,000. SJS Investment Consulting Inc. lifted its stake in The Goldman Sachs Group by 103.3% during the second quarter. SJS Investment Consulting Inc. now owns 61 shares of the investment management company’s stock worth $28,000 after purchasing an additional 31 shares during the last quarter. Finally, Quest Partners LLC boosted its holdings in The Goldman Sachs Group by 6,300.0% in the second quarter. Quest Partners LLC now owns 64 shares of the investment management company’s stock valued at $29,000 after purchasing an additional 63 shares in the last quarter. 71.21% of the stock is currently owned by hedge funds and other 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.