The Goldman Sachs Group, Inc. (NYSE:GS) to Post Q2 2024 Earnings of $8.79 Per Share, Zacks Research Forecasts

The Goldman Sachs Group, Inc. (NYSE:GS) – Stock analysts at Zacks Research dropped their Q2 2024 earnings per share (EPS) estimates for The Goldman Sachs Group in a research report issued to clients and investors on Tuesday, June 18th. Zacks Research analyst R. Department now forecasts that the investment management company will earn $8.79 per share for the quarter, down from their prior forecast of $8.86. The consensus estimate for The Goldman Sachs Group’s current full-year earnings is $36.63 per share. Zacks Research also issued estimates for The Goldman Sachs Group’s Q1 2025 earnings at $10.63 EPS and Q1 2026 earnings at $11.19 EPS.

Several other brokerages 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 note on Tuesday, April 16th. Royal Bank of Canada increased 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. Bank of America raised their price objective on shares of The Goldman Sachs Group from $450.00 to $478.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. Evercore ISI raised their target price on The Goldman Sachs Group from $435.00 to $440.00 and gave the stock an “outperform” rating in a report on Tuesday, April 16th. Finally, Keefe, Bruyette & Woods raised their target price on shares of The Goldman Sachs Group from $445.00 to $485.00 and gave the stock an “outperform” rating in a research note on Friday, April 5th. Six research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $440.57.

The Goldman Sachs Group Price Performance

GS stock opened at $450.18 on Friday. The company has a debt-to-equity ratio of 2.18, a quick ratio of 0.74 and a current ratio of 0.74. The firm has a 50 day moving average price of $444.55 and a 200-day moving average price of $407.07. The Goldman Sachs Group has a 52-week low of $289.36 and a 52-week high of $471.48. The firm has a market capitalization of $145.17 billion, a price-to-earnings ratio of 17.58, a PEG ratio of 0.93 and a beta of 1.39.

The Goldman Sachs Group (NYSE:GS) last released its quarterly earnings results 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 company had revenue of $14.21 billion for 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 firm’s revenue was up 16.1% on a year-over-year basis. During the same period in the previous year, the company posted $8.79 earnings per share.

Institutional Investors Weigh In On The Goldman Sachs Group

Several institutional investors have recently added to or reduced their stakes in the business. International Assets Investment Management LLC purchased a new position in shares of The Goldman Sachs Group during the first quarter worth $1,903,374,000. Norges Bank purchased a new position in shares of The Goldman Sachs Group during the 4th quarter valued at about $1,120,119,000. Wellington Management Group LLP raised its stake in shares of The Goldman Sachs Group by 27.0% during the 4th quarter. Wellington Management Group LLP now owns 2,184,196 shares of the investment management company’s stock valued at $842,597,000 after buying an additional 464,954 shares during the last quarter. Morgan Stanley boosted its stake in shares of The Goldman Sachs Group by 7.8% in the third quarter. Morgan Stanley now owns 5,693,331 shares of the investment management company’s stock worth $1,842,192,000 after buying an additional 412,383 shares during the last quarter. Finally, Verity & Verity LLC grew its holdings in The Goldman Sachs Group by 26,378.2% during the first quarter. Verity & Verity LLC now owns 407,764 shares of the investment management company’s stock worth $170,000 after acquiring an additional 406,224 shares during the period. Institutional investors and hedge funds own 71.21% of the company’s stock.

Insider Transactions 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 shares were sold at an average price of $6.34, for a total transaction of $25,360,000.00. Following the transaction, the insider now owns 12,981,022 shares of the company’s stock, valued at approximately $82,299,679.48. The transaction 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, major shareholder Goldman Sachs Group Inc sold 4,000,000 shares of the company’s stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $6.34, for a total transaction of $25,360,000.00. Following the completion of the sale, the insider now owns 12,981,022 shares in the company, valued at $82,299,679.48. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director David A. Viniar sold 5,000 shares of The Goldman Sachs Group stock in a transaction on Monday, April 29th. The shares were sold at an average price of $432.25, for a total value of $2,161,250.00. Following the completion of the transaction, the director now owns 623,425 shares in the company, valued at $269,475,456.25. The disclosure for this sale can be found here. Corporate insiders own 0.54% 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 is Thursday, May 30th. This represents a $11.00 annualized dividend and a yield of 2.44%. The Goldman Sachs Group’s dividend payout ratio (DPR) is currently 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.