Q3 2024 Earnings Forecast for The Goldman Sachs Group, Inc. Issued By Seaport Res Ptn (NYSE:GS)

The Goldman Sachs Group, Inc. (NYSE:GS) – Equities research analysts at Seaport Res Ptn reduced their Q3 2024 earnings per share estimates for The Goldman Sachs Group in a research report issued on Monday, April 15th. Seaport Res Ptn analyst J. Mitchell now expects that the investment management company will post earnings per share of $8.49 for the quarter, down from their prior estimate of $8.73. The consensus estimate for The Goldman Sachs Group’s current full-year earnings is $32.76 per share. Seaport Res Ptn also issued estimates for The Goldman Sachs Group’s Q2 2025 earnings at $9.77 EPS and FY2025 earnings at $39.20 EPS.

Several other analysts have also recently issued reports on GS. Argus upgraded shares of The Goldman Sachs Group from a “hold” rating to a “buy” rating and set a $465.00 target price on the stock in a research report on Tuesday. JPMorgan Chase & Co. raised their target price on shares of The Goldman Sachs Group from $424.00 to $433.00 and gave the company an “overweight” rating in a research note on Tuesday. HSBC raised 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. Barclays raised their price target on shares of The Goldman Sachs Group from $437.00 to $493.00 and gave the stock an “overweight” rating in a report on Tuesday, January 2nd. Finally, BMO Capital Markets raised their target price on shares of The Goldman Sachs Group from $349.00 to $360.00 and gave the stock a “market perform” rating in a report on Tuesday. Six equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat.com, The Goldman Sachs Group has an average rating of “Moderate Buy” and a consensus price target of $434.93.

The Goldman Sachs Group Price Performance

Shares of GS opened at $403.91 on Wednesday. The firm has a market cap of $131.08 billion, a PE ratio of 15.77, a P/E/G ratio of 1.56 and a beta of 1.43. The company has a current ratio of 1.12, a quick ratio of 0.76 and a debt-to-equity ratio of 1.98. The firm has a fifty day simple moving average of $395.67 and a two-hundred day simple moving average of $365.35. The Goldman Sachs Group has a 1-year low of $289.36 and a 1-year high of $419.20.

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

The Goldman Sachs Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 27th. Stockholders of record on Thursday, May 30th will be given a $2.75 dividend. This represents a $11.00 dividend on an annualized basis and a dividend yield of 2.72%. The ex-dividend date of this dividend is Thursday, May 30th. The Goldman Sachs Group’s dividend payout ratio is currently 42.95%.

Insider Activity

In related news, insider Kathryn H. Ruemmler sold 7,277 shares of The Goldman Sachs Group stock in a transaction dated Tuesday, January 23rd. The stock was sold at an average price of $379.81, for a total transaction of $2,763,877.37. Following the completion of the sale, the insider now owns 6,501 shares in the company, valued at approximately $2,469,144.81. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other The Goldman Sachs Group news, insider Kathryn H. Ruemmler sold 7,277 shares of the firm’s stock in a transaction dated Tuesday, January 23rd. The stock was sold at an average price of $379.81, for a total value of $2,763,877.37. Following the sale, the insider now directly owns 6,501 shares of the company’s stock, valued at approximately $2,469,144.81. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Denis P. Coleman sold 12,680 shares of the firm’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $394.43, for a total value of $5,001,372.40. Following the completion of the sale, the chief financial officer now directly owns 29,417 shares in the company, valued at $11,602,947.31. The disclosure for this sale can be found here. Insiders sold a total of 35,907 shares of company stock worth $13,950,851 over the last 90 days. 0.57% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the stock. Powell Investment Advisors LLC grew its position in The Goldman Sachs Group by 0.7% in the first quarter. Powell Investment Advisors LLC now owns 3,838 shares of the investment management company’s stock worth $1,603,000 after acquiring an additional 25 shares in the last quarter. Dumont & Blake Investment Advisors LLC raised its stake in shares of The Goldman Sachs Group by 1.1% during the first quarter. Dumont & Blake Investment Advisors LLC now owns 2,259 shares of the investment management company’s stock valued at $944,000 after acquiring an additional 25 shares during the last quarter. WNY Asset Management LLC raised its stake in The Goldman Sachs Group by 1.6% in the fourth quarter. WNY Asset Management LLC now owns 1,627 shares of the investment management company’s stock worth $628,000 after buying an additional 26 shares in the last quarter. Albert D Mason Inc. raised its stake in The Goldman Sachs Group by 4.3% in the fourth quarter. Albert D Mason Inc. now owns 662 shares of the investment management company’s stock worth $255,000 after buying an additional 27 shares in the last quarter. Finally, Mayflower Financial Advisors LLC raised its stake in The Goldman Sachs Group by 1.4% in the fourth quarter. Mayflower Financial Advisors LLC now owns 1,970 shares of the investment management company’s stock worth $760,000 after buying an additional 28 shares in the last quarter. 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.