The Goldman Sachs Group, Inc. Forecasted to Post Q3 2023 Earnings of $4.85 Per Share (NYSE:GS)

Posted by Defense World Staff on Oct 20th, 2023

The Goldman Sachs Group, Inc. (NYSE:GS – Free Report) – Investment analysts at Zacks Research reduced their Q3 2023 earnings per share (EPS) estimates for The Goldman Sachs Group in a report released on Monday, October 16th. Zacks Research analyst R. Fatarpekar now anticipates that the investment management company will earn $4.85 per share for the quarter, down from their previous forecast of $6.75. The consensus estimate for The Goldman Sachs Group’s current full-year earnings is $23.69 per share. Zacks Research also issued estimates for The Goldman Sachs Group’s FY2023 earnings at $22.19 EPS, Q3 2024 earnings at $7.47 EPS, Q4 2024 earnings at $7.38 EPS, FY2024 earnings at $30.65 EPS and Q3 2025 earnings at $9.05 EPS.

The Goldman Sachs Group (NYSE:GS – Get Free Report) last issued its quarterly earnings results on Tuesday, October 17th. The investment management company reported $5.47 EPS for the quarter, beating the consensus estimate of $5.42 by $0.05. The Goldman Sachs Group had a return on equity of 7.19% and a net margin of 7.77%. The firm had revenue of $11.82 billion during the quarter, compared to analysts’ expectations of $11.15 billion. During the same period in the prior year, the firm posted $8.25 earnings per share. The business’s quarterly revenue was down 1.3% compared to the same quarter last year.

Other equities analysts have also issued research reports about the company. Credit Suisse Group reiterated an “outperform” rating and set a $410.00 target price on shares of The Goldman Sachs Group in a research note on Thursday, July 20th. Societe Generale lowered The Goldman Sachs Group from a “buy” rating to a “hold” rating in a research note on Monday, July 10th. Citigroup lowered their price objective on The Goldman Sachs Group from $400.00 to $380.00 and set a “neutral” rating on the stock in a research note on Thursday, September 21st. UBS Group raised their target price on The Goldman Sachs Group from $385.00 to $400.00 and gave the company a “buy” rating in a report on Monday, July 24th. Finally, HSBC initiated coverage on The Goldman Sachs Group in a report on Thursday, September 7th. They set a “buy” rating and a $403.00 target price on the stock. Seven analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, The Goldman Sachs Group presently has a consensus rating of “Moderate Buy” and an average target price of $392.60.

Check Out Our Latest Stock Report on The Goldman Sachs Group

The Goldman Sachs Group Stock Performance

GS opened at $299.06 on Thursday. The stock has a market cap of $98.59 billion, a price-to-earnings ratio of 14.48, a PEG ratio of 1.76 and a beta of 1.38. The company has a quick ratio of 0.81, a current ratio of 1.13 and a debt-to-equity ratio of 1.91. The Goldman Sachs Group has a 12-month low of $298.63 and a 12-month high of $389.58. The business has a 50 day moving average of $323.57 and a 200-day moving average of $329.30.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in GS. Pacific Center for Financial Services bought a new position in The Goldman Sachs Group in the first quarter valued at $33,000. Worth Asset Management LLC purchased a new stake in shares of The Goldman Sachs Group during the first quarter worth about $33,000. First Capital Advisors Group LLC. purchased a new stake in shares of The Goldman Sachs Group during the second quarter worth about $34,000. PCA Investment Advisory Services Inc. purchased a new stake in The Goldman Sachs Group in the second quarter worth about $34,000. Finally, NewSquare Capital LLC lifted its holdings in The Goldman Sachs Group by 3,433.3% in the first quarter. NewSquare Capital LLC now owns 106 shares of the investment management company’s stock worth $35,000 after buying an additional 103 shares during the period. Institutional investors own 69.06% of the company’s stock.

Insider Activity at The Goldman Sachs Group

In other The Goldman Sachs Group news, CEO David M. Solomon sold 4,200 shares of the business’s stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $356.28, for a total transaction of $1,496,376.00. Following the sale, the chief executive officer now owns 124,782 shares of the company’s stock, valued at approximately $44,457,330.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.54% of the stock is owned by company insiders.

The Goldman Sachs Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 28th. Investors of record on Thursday, November 30th will be paid a $2.75 dividend. The ex-dividend date is Wednesday, November 29th. This represents a $11.00 annualized dividend and a yield of 3.68%. The Goldman Sachs Group’s payout ratio is 53.24%.

The Goldman Sachs Group Company Profile

(Get Free Report)

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 resale agreements.