Q2 2024 EPS Estimates for The Goldman Sachs Group, Inc. Decreased by Seaport Res Ptn (NYSE:GS)

The Goldman Sachs Group, Inc. (NYSE:GS) – Equities research analysts at Seaport Res Ptn decreased their Q2 2024 earnings estimates for shares of The Goldman Sachs Group in a research note issued on Monday, April 15th. Seaport Res Ptn analyst J. Mitchell now forecasts that the investment management company will post earnings per share of $8.26 for the quarter, down from their prior forecast of $8.42. The consensus estimate for The Goldman Sachs Group’s current full-year earnings is $35.15 per share. Seaport Res Ptn also issued estimates for The Goldman Sachs Group’s Q4 2024 earnings at $7.63 EPS, FY2024 earnings at $36.00 EPS, Q1 2025 earnings at $11.13 EPS, Q3 2025 earnings at $9.59 EPS and Q4 2025 earnings at $8.68 EPS.

A number of other equities research analysts have also issued reports on the stock. Edward Jones initiated coverage on shares of The Goldman Sachs Group in a report on Tuesday, February 27th. They issued a “buy” rating on the stock. Citigroup lifted their target price on shares of The Goldman Sachs Group from $410.00 to $425.00 and gave the company a “neutral” rating in a research note on Tuesday. HSBC lifted their target price on shares of The Goldman Sachs Group from $460.00 to $470.00 and gave the company a “buy” rating in a research note on Tuesday. JMP Securities lifted their target price on shares of The Goldman Sachs Group from $440.00 to $460.00 and gave the company a “market outperform” rating in a research note on Tuesday, April 9th. Finally, Morgan Stanley raised shares of The Goldman Sachs Group from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $333.00 to $449.00 in a research note on Tuesday, January 30th. Six equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat.com, The Goldman Sachs Group currently has an average rating of “Moderate Buy” and an average price target of $434.93.

The Goldman Sachs Group Price Performance

Shares of The Goldman Sachs Group stock opened at $404.00 on Thursday. The firm has a market cap of $131.11 billion, a PE ratio of 15.78, a price-to-earnings-growth ratio of 1.31 and a beta of 1.43. The Goldman Sachs Group has a 12-month low of $289.36 and a 12-month high of $419.20. The company has a quick ratio of 0.76, a current ratio of 1.12 and a debt-to-equity ratio of 1.98. The company’s fifty day simple moving average is $396.43 and its two-hundred day simple moving average is $366.20.

The Goldman Sachs Group (NYSE:GS) last announced its quarterly earnings results on Monday, April 15th. The investment management company reported $11.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $8.54 by $3.04. The business had revenue of $14.21 billion for the quarter, compared to analyst estimates of $12.94 billion. The Goldman Sachs Group had a net margin of 8.17% and a return on equity of 8.65%. The company’s revenue was up 16.1% on a year-over-year basis. During the same quarter last year, the firm earned $8.79 EPS.

The Goldman Sachs Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 27th. Shareholders of record on Thursday, May 30th will be issued a $2.75 dividend. The ex-dividend date of this dividend is Thursday, May 30th. This represents a $11.00 annualized dividend and a yield of 2.72%. The Goldman Sachs Group’s dividend payout ratio (DPR) is presently 42.95%.

Insiders Place Their Bets

In other The Goldman Sachs Group news, insider Kathryn H. Ruemmler sold 7,277 shares of The Goldman Sachs Group stock in a transaction dated Tuesday, January 23rd. The shares were sold at an average price of $379.81, for a total value of $2,763,877.37. Following the completion of the transaction, the insider now directly owns 6,501 shares of the company’s stock, valued at $2,469,144.81. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other The Goldman Sachs Group news, insider Kathryn H. Ruemmler sold 7,277 shares of The Goldman Sachs Group stock in a transaction dated Tuesday, January 23rd. The shares were sold at an average price of $379.81, for a total value of $2,763,877.37. Following the completion of the transaction, the insider now directly owns 6,501 shares of the company’s stock, valued at $2,469,144.81. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Sheara J. Fredman sold 4,300 shares of the business’s stock in a transaction that occurred on Tuesday, January 23rd. The shares were sold at an average price of $380.15, for a total transaction of $1,634,645.00. Following the transaction, the chief accounting officer now directly owns 11,463 shares of the company’s stock, valued at $4,357,659.45. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 35,907 shares of company stock valued at $13,950,851. Insiders own 0.54% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Versant Capital Management Inc raised its holdings in shares of The Goldman Sachs Group by 106.3% during the first quarter. Versant Capital Management Inc now owns 66 shares of the investment management company’s stock valued at $28,000 after purchasing an additional 34 shares during the last quarter. First United Bank & Trust bought a new stake in The Goldman Sachs Group during the fourth quarter valued at approximately $26,000. Pineridge Advisors LLC bought a new stake in The Goldman Sachs Group during the fourth quarter valued at approximately $29,000. Tributary Capital Management LLC bought a new stake in The Goldman Sachs Group during the first quarter valued at approximately $33,000. Finally, BKM Wealth Management LLC bought a new stake in The Goldman Sachs Group during the fourth quarter valued at approximately $32,000. 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.