Seaport Res Ptn Has Optimistic Outlook of GS FY2024 Earnings

The Goldman Sachs Group, Inc. (NYSE:GS - Free Report) - Equities researchers at Seaport Res Ptn increased their FY2024 earnings estimates for The Goldman Sachs Group in a research report issued on Tuesday, January 7th. Seaport Res Ptn analyst J. Mitchell now expects that the investment management company will earn $37.22 per share for the year, up from their previous estimate 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 - Get Free Report) last released its quarterly earnings data 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 business had revenue of $12.70 billion for the quarter, compared to analyst estimates of $11.77 billion. During the same period in the previous year, the company posted $5.47 EPS. The company's revenue was up 7.4% compared to the same quarter last year.

Several other research analysts have also commented on GS. Oppenheimer cut their price objective on The Goldman Sachs Group from $677.00 to $639.00 and set an "outperform" rating on the stock in a research report on Friday, January 3rd. Bank of America boosted their price target on The Goldman Sachs Group from $563.00 to $575.00 and gave the stock a "buy" rating in a research report on Wednesday, October 16th. HSBC downgraded shares of The Goldman Sachs Group from a "buy" rating to a "hold" rating and increased their price objective for the company from $569.00 to $608.00 in a research report on Tuesday, November 26th. UBS Group reissued a "neutral" rating and set a $610.00 target price on shares of The Goldman Sachs Group in a research report on Monday. Finally, 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 report on Tuesday, December 3rd. Eight analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $569.31.

The Goldman Sachs Group Trading Down 3.4 %

Shares of The Goldman Sachs Group stock traded down $19.62 during trading hours on Friday, hitting $560.40. The company's stock had a trading volume of 2,816,327 shares, compared to its average volume of 2,041,682. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 2.32. The company has a market capitalization of $175.92 billion, a PE ratio of 16.44, a P/E/G ratio of 0.85 and a beta of 1.38. The business has a fifty day moving average of $583.74 and a 200 day moving average of $524.95. The Goldman Sachs Group has a 1-year low of $372.07 and a 1-year high of $612.73.

Insider Activity at The Goldman Sachs Group

In other news, CAO Sheara J. Fredman sold 2,974 shares of the company's stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $594.51, for a total transaction of $1,768,072.74. Following the completion of the transaction, the chief accounting officer now directly owns 8,489 shares of the company's stock, valued at approximately $5,046,795.39. This represents a 25.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Brian J. Lee sold 2,000 shares of the firm's stock in a transaction that occurred on Thursday, October 17th. The stock was sold at an average price of $530.90, for a total value of $1,061,800.00. Following the completion of the sale, the insider now directly owns 10,095 shares in the company, valued at approximately $5,359,435.50. This trade represents a 16.54 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 22,940 shares of company stock valued at $13,717,979. Corporate insiders own 0.54% of the company's stock.

Hedge Funds Weigh In On The Goldman Sachs Group

Several institutional investors have recently modified their holdings of GS. Mizuho Securities USA LLC boosted its position in The Goldman Sachs Group by 30,068.9% during the 3rd quarter. Mizuho Securities USA LLC now owns 7,500,000 shares of the investment management company's stock worth $3,713,325,000 after acquiring an additional 7,475,140 shares during the period. Fisher Asset Management LLC grew its position in The Goldman Sachs Group by 2.7% in the 3rd 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 buying an additional 161,133 shares in the last quarter. FMR LLC increased its stake in The Goldman Sachs Group by 21.9% during the 3rd quarter. FMR LLC now owns 2,898,637 shares of the investment management company's stock valued at $1,435,144,000 after buying an additional 521,054 shares during the period. Legal & General Group Plc raised its position in shares of The Goldman Sachs Group by 2.9% during the 2nd quarter. Legal & General Group Plc now owns 2,780,338 shares of the investment management company's stock worth $1,257,602,000 after buying an additional 77,700 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in shares of The Goldman Sachs Group by 3.3% in 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 acquiring an additional 68,141 shares during the period. Institutional investors own 71.21% of the company's stock.

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.