Seaport Res Ptn Has Optimistic Outlook of GS FY2024 Earnings

The Goldman Sachs Group, Inc. (NYSE:GS) – Research analysts at Seaport Res Ptn boosted their FY2024 EPS estimates for The Goldman Sachs Group in a note issued to investors on Tuesday, January 7th. Seaport Res Ptn analyst J. Mitchell now forecasts that the investment management company will post earnings per share of $37.22 for the year, up from their previous forecast of $36.40. The consensus estimate for The Goldman Sachs Group’s current full-year earnings is $37.06 per share. Seaport Res Ptn also issued estimates for The Goldman Sachs Group’s Q1 2025 earnings at $12.08 EPS, Q2 2025 earnings at $10.32 EPS, Q3 2025 earnings at $10.33 EPS, FY2025 earnings at $42.70 EPS and FY2026 earnings at $48.20 EPS.

The Goldman Sachs Group (NYSE:GS) last announced its quarterly earnings results on Tuesday, October 15th. The investment management company reported $8.40 earnings per share for the quarter, beating the consensus estimate of $6.89 by $1.51. The Goldman Sachs Group had a return on equity of 11.39% and a net margin of 9.89%. The firm had revenue of $12.70 billion during the quarter, compared to analyst estimates of $11.77 billion. During the same quarter in the previous year, the business earned $5.47 EPS. The Goldman Sachs Group’s revenue for the quarter was up 7.4% compared to the same quarter last year.

A number of other brokerages have also weighed in on GS. Keefe, Bruyette & Woods raised their price target on shares of The Goldman Sachs Group from $570.00 to $686.00 and gave the company an “outperform” rating in a research note on Tuesday, December 3rd. Morgan Stanley increased their price objective on The Goldman Sachs Group from $560.00 to $570.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. Bank of America raised their price objective on The Goldman Sachs Group from $563.00 to $575.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Evercore ISI raised their price target on shares of The Goldman Sachs Group from $520.00 to $575.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. Finally, Wells Fargo & Company raised their price objective on shares of The Goldman Sachs Group from $600.00 to $680.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Eight equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $569.31.

The Goldman Sachs Group Stock Performance

NYSE:GS opened at $579.48 on Friday. The company has a fifty day moving average of $582.92 and a two-hundred day moving average of $524.27. The Goldman Sachs Group has a fifty-two week low of $372.07 and a fifty-two week high of $612.73. The stock has a market capitalization of $181.90 billion, a PE ratio of 17.00, a P/E/G ratio of 0.85 and a beta of 1.38. The company has a debt-to-equity ratio of 2.32, a quick ratio of 0.67 and a current ratio of 0.67.

Hedge Funds Weigh In On The Goldman Sachs Group

Several hedge funds have recently added to or reduced their stakes in the stock. Mizuho Securities USA LLC boosted its holdings in shares of The Goldman Sachs Group by 30,068.9% in the 3rd quarter. Mizuho Securities USA LLC now owns 7,500,000 shares of the investment management company’s stock valued at $3,713,325,000 after buying an additional 7,475,140 shares in the last quarter. Fisher Asset Management LLC lifted its position in The Goldman Sachs Group by 2.7% in the third quarter. Fisher Asset Management LLC now owns 6,042,640 shares of the investment management company’s stock valued at $2,991,772,000 after acquiring an additional 161,133 shares during the last quarter. FMR LLC boosted its stake in The Goldman Sachs Group by 21.9% in the third quarter. FMR LLC now owns 2,898,637 shares of the investment management company’s stock valued at $1,435,144,000 after acquiring an additional 521,054 shares in the last quarter. Legal & General Group Plc grew its holdings in shares of The Goldman Sachs Group by 2.9% during the second quarter. Legal & General Group Plc now owns 2,780,338 shares of the investment management company’s stock worth $1,257,602,000 after purchasing an additional 77,700 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in The Goldman Sachs Group by 3.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,117,311 shares of the investment management company’s stock worth $957,684,000 after buying an additional 68,141 shares during the last quarter. 71.21% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at The Goldman Sachs Group

In other news, Director David A. Viniar sold 5,000 shares of the company’s stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $612.08, for a total transaction of $3,060,400.00. Following the completion of the transaction, the director now directly owns 608,425 shares of the company’s stock, valued at approximately $372,404,774. This represents a 0.82 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Sheara J. Fredman sold 2,974 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $594.51, for a total value of $1,768,072.74. Following the sale, the chief accounting officer now directly owns 8,489 shares in the company, valued at $5,046,795.39. This trade represents a 25.94 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 22,940 shares of company stock valued at $13,717,979. 0.54% of the stock is currently owned by corporate insiders.

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.