$746.70 Million in Sales Expected for The Carlyle Group LP (CG) This Quarter

Equities analysts expect The Carlyle Group LP (NASDAQ:CG) to announce sales of $746.70 million for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for The Carlyle Group’s earnings, with the lowest sales estimate coming in at $670.39 million and the highest estimate coming in at $823.00 million. The Carlyle Group reported sales of $639.90 million in the same quarter last year, which indicates a positive year-over-year growth rate of 16.7%. The business is expected to report its next earnings report on Tuesday, October 30th.

According to Zacks, analysts expect that The Carlyle Group will report full-year sales of $3.00 billion for the current fiscal year, with estimates ranging from $2.93 billion to $3.13 billion. For the next fiscal year, analysts expect that the company will post sales of $3.48 billion per share, with estimates ranging from $3.38 billion to $3.56 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research firms that cover The Carlyle Group.

The Carlyle Group (NASDAQ:CG) last issued its earnings results on Wednesday, August 1st. The financial services provider reported $0.69 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.52 by $0.17. The company had revenue of $840.00 million during the quarter, compared to the consensus estimate of $713.35 million. The Carlyle Group had a return on equity of 31.20% and a net margin of 6.37%. The firm’s revenue for the quarter was down 2.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.59 EPS.



CG has been the subject of several analyst reports. BidaskClub cut The Carlyle Group from a “sell” rating to a “strong sell” rating in a report on Tuesday, April 17th. Oppenheimer set a $33.00 price objective on The Carlyle Group and gave the company a “buy” rating in a report on Tuesday, May 1st. Citigroup lifted their price objective on The Carlyle Group from $28.50 to $29.00 and gave the company a “buy” rating in a report on Wednesday, May 2nd. TheStreet cut The Carlyle Group from a “b” rating to a “c” rating in a report on Tuesday, May 1st. Finally, ValuEngine cut The Carlyle Group from a “hold” rating to a “sell” rating in a report on Monday, July 2nd. One investment analyst has rated the stock with a sell rating, three have given a hold rating and eight have assigned a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $28.80.

NASDAQ:CG opened at $23.80 on Wednesday. The company has a market cap of $2.39 billion, a P/E ratio of 6.86 and a beta of 1.80. The company has a quick ratio of 0.59, a current ratio of 0.71 and a debt-to-equity ratio of 2.35. The Carlyle Group has a 1-year low of $19.50 and a 1-year high of $25.90.

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 17th. Stockholders of record on Monday, August 13th will be issued a dividend of $0.22 per share. The ex-dividend date of this dividend is Friday, August 10th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.70%. The Carlyle Group’s dividend payout ratio (DPR) is currently 25.36%.

In other The Carlyle Group news, CFO Curtis L. Buser sold 45,107 shares of the company’s stock in a transaction dated Wednesday, August 1st. The stock was sold at an average price of $24.30, for a total value of $1,096,100.10. Following the sale, the chief financial officer now owns 428,685 shares in the company, valued at approximately $10,417,045.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Carlyle Group Management L.L.C sold 2,250,000 shares of the company’s stock in a transaction dated Thursday, August 2nd. The shares were sold at an average price of $111.91, for a total value of $251,797,500.00. The disclosure for this sale can be found here. Insiders have sold a total of 2,329,197 shares of company stock valued at $253,721,987 in the last three months.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CG. Raymond James & Associates lifted its stake in shares of The Carlyle Group by 0.9% in the 2nd quarter. Raymond James & Associates now owns 273,104 shares of the financial services provider’s stock valued at $5,817,000 after purchasing an additional 2,456 shares during the period. SOL Capital Management CO raised its stake in shares of The Carlyle Group by 2.0% in the second quarter. SOL Capital Management CO now owns 164,500 shares of the financial services provider’s stock worth $3,504,000 after purchasing an additional 3,200 shares during the last quarter. IFP Advisors Inc raised its stake in shares of The Carlyle Group by 305.7% in the first quarter. IFP Advisors Inc now owns 4,986 shares of the financial services provider’s stock worth $106,000 after purchasing an additional 3,757 shares during the last quarter. Mckinley Capital Management LLC Delaware grew its holdings in shares of The Carlyle Group by 5.5% in the second quarter. Mckinley Capital Management LLC Delaware now owns 80,273 shares of the financial services provider’s stock valued at $1,709,000 after acquiring an additional 4,181 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of The Carlyle Group by 7.3% in the fourth quarter. Geode Capital Management LLC now owns 62,999 shares of the financial services provider’s stock valued at $1,442,000 after acquiring an additional 4,272 shares in the last quarter. Hedge funds and other institutional investors own 41.49% of the company’s stock.

The Carlyle Group Company Profile

The Carlyle Group LP is an investment firm specializing in direct and fund of fund investments in Fintech sector. 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.

Further Reading: What are the Different Types of Leveraged Buyouts?

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Earnings History and Estimates for The Carlyle Group (NASDAQ:CG)

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