Brokers Set Expectations for The Goldman Sachs Group, Inc.’s Q2 2024 Earnings (NYSE:GS)

The Goldman Sachs Group, Inc. (NYSE:GS) – Analysts at Zacks Research raised their Q2 2024 EPS estimates for The Goldman Sachs Group in a research note issued on Monday, May 6th. Zacks Research analyst R. Department now expects that the investment management company will post earnings per share of $8.79 for the quarter, up from their prior estimate of $7.40. The consensus estimate for The Goldman Sachs Group’s current full-year earnings is $36.07 per share. Zacks Research also issued estimates for The Goldman Sachs Group’s Q3 2024 earnings at $8.96 EPS, FY2024 earnings at $37.40 EPS, Q1 2025 earnings at $10.62 EPS, Q2 2025 earnings at $10.12 EPS, Q3 2025 earnings at $9.68 EPS, Q4 2025 earnings at $9.56 EPS, FY2025 earnings at $39.98 EPS, Q1 2026 earnings at $10.96 EPS and FY2026 earnings at $41.90 EPS.

The Goldman Sachs Group (NYSE:GS) last issued its earnings results on Monday, April 15th. The investment management company reported $11.58 EPS 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 company had revenue of $14.21 billion during the quarter, compared to the consensus estimate of $12.94 billion. During the same period last year, the business posted $8.79 EPS. The firm’s revenue for the quarter was up 16.1% compared to the same quarter last year.

A number of other equities analysts have also recently issued reports on the company. Wells Fargo & Company increased their target price on The Goldman Sachs Group from $450.00 to $504.00 and gave the stock an “overweight” rating in a report on Tuesday. Keefe, Bruyette & Woods raised their price objective on shares of The Goldman Sachs Group from $445.00 to $485.00 and gave the company an “outperform” rating in a research note on Friday, April 5th. Evercore ISI upped their target price on shares of The Goldman Sachs Group from $435.00 to $440.00 and gave the stock an “outperform” rating in a report on Tuesday, April 16th. Edward Jones started coverage on shares of The Goldman Sachs Group in a research report on Tuesday, February 27th. They issued a “buy” rating on the stock. Finally, HSBC boosted 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. Six research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, The Goldman Sachs Group has an average rating of “Moderate Buy” and a consensus price target of $440.57.

The Goldman Sachs Group Trading Up 0.7 %

Shares of The Goldman Sachs Group stock opened at $446.95 on Thursday. The stock has a market capitalization of $145.05 billion, a PE ratio of 17.45, a price-to-earnings-growth ratio of 1.38 and a beta of 1.40. The Goldman Sachs Group has a 52 week low of $289.36 and a 52 week high of $448.02. The stock has a 50 day moving average price of $406.72 and a two-hundred day moving average price of $377.23. The company has a debt-to-equity ratio of 1.98, a quick ratio of 0.76 and a current ratio of 1.12.

Institutional Trading of The Goldman Sachs Group

A number of institutional investors have recently added to or reduced their stakes in GS. First Personal Financial Services bought a new stake in shares of The Goldman Sachs Group during the 1st quarter valued at about $25,000. First United Bank & Trust purchased a new position in The Goldman Sachs Group in the 4th quarter worth approximately $26,000. Versant Capital Management Inc increased its holdings in shares of The Goldman Sachs Group by 106.3% in the 1st quarter. Versant Capital Management Inc now owns 66 shares of the investment management company’s stock worth $28,000 after buying an additional 34 shares during the last quarter. Pineridge Advisors LLC purchased a new stake in shares of The Goldman Sachs Group during the 4th quarter valued at $29,000. Finally, Truvestments Capital LLC lifted its holdings in shares of The Goldman Sachs Group by 88.0% during the 3rd quarter. Truvestments Capital LLC now owns 94 shares of the investment management company’s stock worth $31,000 after acquiring an additional 44 shares during the last quarter. Hedge funds and other institutional investors own 71.21% of the company’s stock.

Insider Buying and Selling at The Goldman Sachs Group

In other news, CFO Denis P. Coleman sold 12,680 shares of the company’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $394.43, for a total transaction of $5,001,372.40. Following the transaction, the chief financial officer now owns 29,417 shares of the company’s stock, valued at approximately $11,602,947.31. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CFO Denis P. Coleman sold 12,680 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $394.43, for a total value of $5,001,372.40. Following the sale, the chief financial officer now owns 29,417 shares of the company’s stock, valued at $11,602,947.31. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director David A. Viniar sold 5,000 shares of the firm’s stock in a transaction that occurred on 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 directly owns 623,425 shares of the company’s stock, valued at $269,475,456.25. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 29,330 shares of company stock valued at $11,713,578. Company insiders own 0.57% of the company’s stock.

The Goldman Sachs Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 27th. Investors of record on Thursday, May 30th will be paid 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 2.46%. The Goldman Sachs Group’s payout ratio is 42.95%.

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.