The Goldman Sachs Group (NYSE:GS) Posts Earnings Results, Beats Expectations By $6.51 EPS

The Goldman Sachs Group (NYSE:GS) released its earnings results on Tuesday. The investment management company reported $20.98 EPS for the quarter, beating the consensus estimate of $14.47 by $6.51, FiscalAI reports. The company had revenue of $20.34 billion for the quarter, compared to analyst estimates of $16.22 billion. The Goldman Sachs Group had a net margin of 14.13% and a return on equity of 16.53%.

The Goldman Sachs Group Trading Down 0.8%

Shares of GS opened at $1,047.08 on Tuesday. The stock has a market capitalization of $308.90 billion, a P/E ratio of 19.14, a PEG ratio of 1.35 and a beta of 1.30. The Goldman Sachs Group has a twelve month low of $691.30 and a twelve month high of $1,125.00. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 2.89. The firm has a fifty day simple moving average of $1,020.45 and a two-hundred day simple moving average of $939.94.

The Goldman Sachs Group News Summary

Here are the key news stories impacting The Goldman Sachs Group this week:

• Positive Sentiment: Goldman Sachs is set to report alongside other major banks as dealmaking activity returns, raising expectations for a strong quarter and potential earnings upside. Wall Street to report bumper quarter as dealmaking returns
• Positive Sentiment: Analysts and market previews suggest big U.S. banks, including Goldman Sachs, may beat consensus estimates thanks to strong capital markets activity, resilient economic conditions, and improving wealth-management flows. US bank earnings could surprise to the upside as Bank of America highlights strong operating backdrop
• Positive Sentiment: Goldman Sachs said its outlook for Indian equities is constructive, forecasting a rebound in the Nifty 50 and highlighting banks, large caps, and value names as attractive themes. Goldman Sachs pegs Nifty target at 26,500 by June 2027; lists 15 stocks from key themes
• Neutral Sentiment: Goldman Sachs’ new Bitcoin Banking Adoption Index placed GS in the middle of the pack on crypto adoption, but the report appears more informational than stock-moving. Bitcoin Adoption by Major Banks ‘Accelerating, But Still Early,’ Says Michael Saylor as New Index Ranks JPMorgan, Goldman Sachs, and Others
• Negative Sentiment: A separate note warned that higher interest rates and inflation pressures could be a headwind for the broader market environment, which may temper enthusiasm heading into earnings. Goldman Sachs drops new warning on interest rate hikes
• Negative Sentiment: One pre-earnings technical commentary said GS has pulled back from its highs and could be vulnerable if results or guidance disappoint. Goldman Sachs stock forms a risky pattern ahead of earnings

Wall Street Analysts Forecast Growth

Several research firms have weighed in on GS. JPMorgan Chase & Co. boosted their price target on shares of The Goldman Sachs Group from $826.00 to $900.00 and gave the stock a “neutral” rating in a research note on Friday, June 12th. Weiss Ratings upgraded The Goldman Sachs Group from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, June 30th. Evercore reissued an “outperform” rating on shares of The Goldman Sachs Group in a research note on Monday, July 6th. Zacks Research lowered The Goldman Sachs Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 16th. Finally, Royal Bank Of Canada restated a “neutral” rating on shares of The Goldman Sachs Group in a research report on Monday, April 13th. Ten analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, The Goldman Sachs Group has an average rating of “Hold” and an average price target of $1,005.33.

Insiders Place Their Bets

In related news, CAO Sheara J. Fredman sold 10,301 shares of the firm’s stock in a transaction on Friday, May 1st. The stock was sold at an average price of $929.17, for a total value of $9,571,380.17. Following the completion of the sale, the chief accounting officer owned 6,338 shares of the company’s stock, valued at $5,889,079.46. This trade represents a 61.91% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Denis P. Coleman sold 6,857 shares of The Goldman Sachs Group stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $973.55, for a total transaction of $6,675,632.35. Following the completion of the sale, the chief financial officer owned 31,070 shares in the company, valued at approximately $30,248,198.50. This trade represents a 18.08% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 33,681 shares of company stock worth $31,737,875. Insiders own 0.55% of the company’s stock.

Hedge Funds Weigh In On The Goldman Sachs Group

A number of institutional investors have recently bought and sold shares of GS. Garton & Associates Financial Advisors LLC purchased a new stake in The Goldman Sachs Group in the fourth quarter worth about $26,000. Osterweis Capital Management Inc. purchased a new position in shares of The Goldman Sachs Group during the 4th quarter worth approximately $38,000. Graney & King LLC grew its holdings in shares of The Goldman Sachs Group by 51.5% during the 2nd quarter. Graney & King LLC now owns 50 shares of the investment management company’s stock worth $35,000 after acquiring an additional 17 shares during the period. Wilkerson Advisory Group LLC bought a new position in shares of The Goldman Sachs Group in the 4th quarter worth approximately $53,000. Finally, JPL Wealth Management LLC purchased a new position in shares of The Goldman Sachs Group in the 3rd quarter valued at approximately $50,000. 71.21% of the stock is owned by institutional investors.

About The Goldman Sachs Group

The Goldman Sachs Group, Inc is a global investment banking and financial services firm headquartered in New York City. Founded in 1869 as a commercial paper business, the company has grown into a diversified financial institution that provides a broad range of services to corporations, financial institutions, governments and individuals. The firm is led by Chief Executive Officer David M. Solomon and operates across major financial centers worldwide.

Goldman Sachs’ core businesses include investment banking, global markets, asset and wealth management, and consumer banking.