The Carlyle Group (NASDAQ:CG) Issues Quarterly Earnings Results, Beats Estimates By $0.17 EPS

The Carlyle Group (NASDAQ:CG) released its quarterly earnings results on Thursday. The financial services provider reported $0.53 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.36 by $0.17, Bloomberg Earnings reports. The Carlyle Group had a positive return on equity of 18.68% and a negative net margin of 13.03%. The business had revenue of $582.20 million for the quarter, compared to the consensus estimate of $475.52 million. During the same quarter last year, the business posted $1.23 earnings per share. The company’s revenue for the quarter was up 5.7% on a year-over-year basis.

Shares of The Carlyle Group stock opened at $28.47 on Friday. The company has a quick ratio of 2.72, a current ratio of 2.72 and a debt-to-equity ratio of 3.22. The business has a 50 day moving average of $28.75 and a 200 day moving average of $27.33. The company has a market cap of $9.92 billion, a PE ratio of -32.35 and a beta of 1.66. The Carlyle Group has a 52 week low of $15.21 and a 52 week high of $34.98.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 18th. Stockholders of record on Tuesday, August 11th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, August 10th. This represents a $1.00 annualized dividend and a dividend yield of 3.51%. The Carlyle Group’s dividend payout ratio (DPR) is presently 58.82%.

CG has been the subject of several research reports. Keefe, Bruyette & Woods upped their target price on The Carlyle Group from $30.00 to $31.00 and gave the stock a “market perform” rating in a research note on Friday. TheStreet cut shares of The Carlyle Group from a “c” rating to a “d” rating in a research note on Tuesday, May 5th. ValuEngine lowered shares of The Carlyle Group from a “hold” rating to a “sell” rating in a report on Saturday, July 18th. BidaskClub downgraded shares of The Carlyle Group from a “buy” rating to a “hold” rating in a research note on Tuesday, June 30th. Finally, CIBC raised The Carlyle Group to an “outperformer” rating and raised their price objective for the company from $14.00 to $17.00 in a research note on Monday, June 8th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $28.38.

In other news, major shareholder Carlyle Group Management L.L.C sold 2,000,000 shares of The Carlyle Group stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $124.56, for a total transaction of $249,120,000.00. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Over the last three months, insiders have sold 12,165,000 shares of company stock worth $784,024,400.

The Carlyle Group Company Profile

The Carlyle Group L.P. 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.

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Earnings History for The Carlyle Group (NASDAQ:CG)

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