The Carlyle Group (NASDAQ:CG) Releases Earnings Results, Beats Estimates By $0.08 EPS

The Carlyle Group (NASDAQ:CG) announced its quarterly earnings data on Wednesday. The financial services provider reported $0.95 earnings per share for the quarter, topping the consensus estimate of $0.87 by $0.08, Briefing.com reports. The business had revenue of $895.00 million during the quarter, compared to the consensus estimate of $908.17 million. The Carlyle Group had a positive return on equity of 24.30% and a negative net margin of 11.67%. The Carlyle Group’s revenue for the quarter was up 15.2% on a year-over-year basis. During the same period in the prior year, the company earned $0.87 EPS.

The Carlyle Group Stock Performance

Shares of CG traded down $0.02 during trading hours on Friday, hitting $52.33. The company’s stock had a trading volume of 3,324,425 shares, compared to its average volume of 2,332,326. The company has a market cap of $18.65 billion, a price-to-earnings ratio of -46.32, a PEG ratio of 1.25 and a beta of 1.70. The company has a debt-to-equity ratio of 1.75, a current ratio of 2.55 and a quick ratio of 2.55. The business has a 50 day simple moving average of $45.37 and a two-hundred day simple moving average of $43.41. The Carlyle Group has a 52-week low of $29.29 and a 52-week high of $54.52.

The Carlyle Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 25th. Investors of record on Monday, November 18th will be paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 2.68%. The ex-dividend date of this dividend is Monday, November 18th. The Carlyle Group’s dividend payout ratio is currently -125.00%.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Oppenheimer increased their price target on The Carlyle Group from $64.00 to $78.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. JMP Securities reiterated a “market outperform” rating and issued a $60.00 target price on shares of The Carlyle Group in a research report on Wednesday, October 9th. Barclays upped their price objective on The Carlyle Group from $50.00 to $57.00 and gave the company an “overweight” rating in a research note on Friday. JPMorgan Chase & Co. lifted their target price on shares of The Carlyle Group from $44.00 to $50.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 23rd. Finally, TD Cowen raised their price target on shares of The Carlyle Group from $43.00 to $49.00 and gave the company a “hold” rating in a research note on Friday. Nine analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $52.87.

Insider Activity at The Carlyle Group

In related news, major shareholder Carlyle Group Inc. sold 924,466 shares of the stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $2.14, for a total transaction of $1,978,357.24. Following the sale, the insider now owns 3,643,231 shares of the company’s stock, valued at approximately $7,796,514.34. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last ninety days, insiders sold 1,676,014 shares of company stock worth $3,687,196. Corporate insiders own 27.20% of the company’s stock.

The Carlyle Group Company Profile

The Carlyle Group Inc is an investment firm specializing in direct and fund of fund investments. Within direct investments, it specializes in management-led/ Leveraged buyouts, privatizations, divestitures, strategic minority equity investments, structured credit, global distressed and corporate opportunities, small and middle market, equity private placements, consolidations and buildups, senior debt, mezzanine and leveraged finance, and venture and growth capital financings, seed/startup, early venture, emerging growth, turnaround, mid venture, late venture, PIPES.