TPG (NASDAQ:TPG) Issues Quarterly Earnings Results, Hits Expectations

TPG (NASDAQ:TPG) released its quarterly earnings results on Monday. The company reported $0.45 earnings per share for the quarter, meeting the consensus estimate of $0.45, Briefing.com reports. The business had revenue of $855.40 million for the quarter, compared to analysts’ expectations of $449.98 million. TPG had a net margin of 0.69% and a return on equity of 23.57%. During the same quarter in the previous year, the business posted $0.56 earnings per share.

TPG Stock Performance

Shares of TPG stock opened at $60.88 on Wednesday. The stock has a market cap of $22.21 billion, a price-to-earnings ratio of -179.05, a PEG ratio of 0.98 and a beta of 1.49. The firm’s 50-day moving average is $58.95 and its 200 day moving average is $49.39. TPG has a 1 year low of $28.93 and a 1 year high of $69.86. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.25 and a quick ratio of 0.25.

TPG Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Thursday, November 14th will be paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 2.50%. The ex-dividend date of this dividend is Thursday, November 14th. TPG’s payout ratio is -494.10%.

Wall Street Analyst Weigh In

TPG has been the topic of several recent analyst reports. JPMorgan Chase & Co. lifted their price target on shares of TPG from $44.00 to $49.00 and gave the company a “neutral” rating in a report on Wednesday, August 7th. Morgan Stanley boosted their target price on shares of TPG from $55.00 to $73.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. The Goldman Sachs Group boosted their target price on shares of TPG from $60.00 to $63.00 and gave the company a “buy” rating in a report on Thursday, October 3rd. BMO Capital Markets boosted their target price on shares of TPG from $45.00 to $60.00 and gave the company a “market perform” rating in a report on Tuesday. Finally, Evercore ISI boosted their target price on shares of TPG from $46.00 to $60.00 and gave the company an “in-line” rating in a report on Monday, October 14th. Seven analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $56.17.

TPG Company Profile

TPG Inc operates as an alternative asset manager in the United States and internationally. The company offers investment management services to TPG Funds, limited partners, and other vehicles. It also offers monitoring services to portfolio companies; advisory, debt and equity arrangement, and underwriting and placement services; and capital structuring and other advisory services to portfolio companies.