The Carlyle Group (NASDAQ:CG) Releases Quarterly Earnings Results, Beats Estimates By $0.09 EPS

The Carlyle Group (NASDAQ:CG) released its quarterly earnings data on Wednesday. The financial services provider reported $1.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.92 by $0.09, Briefing.com reports. The firm had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $986.10 million. The Carlyle Group had a negative net margin of 20.53% and a positive return on equity of 19.74%. The Carlyle Group’s revenue was up 35.6% compared to the same quarter last year. During the same period last year, the business earned $0.63 earnings per share.

The Carlyle Group Stock Performance

NASDAQ:CG traded down $0.39 during midday trading on Thursday, reaching $40.58. The stock had a trading volume of 3,099,294 shares, compared to its average volume of 2,296,182. The stock has a market cap of $14.69 billion, a P/E ratio of -24.04, a P/E/G ratio of 0.95 and a beta of 1.77. The company has a quick ratio of 2.27, a current ratio of 2.27 and a debt-to-equity ratio of 1.52. The Carlyle Group has a 12-month low of $25.20 and a 12-month high of $48.52. The firm has a fifty day simple moving average of $45.91 and a two-hundred day simple moving average of $39.93.

The Carlyle Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, May 21st. Stockholders of record on Tuesday, May 14th will be issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.45%. The ex-dividend date of this dividend is Monday, May 13th. The Carlyle Group’s payout ratio is currently -82.84%.

Insider Transactions at The Carlyle Group

In other The Carlyle Group news, major shareholder Carlyle Group Inc. bought 190,000 shares of the business’s stock in a transaction dated Thursday, February 8th. The stock was acquired at an average cost of $12.95 per share, with a total value of $2,460,500.00. Following the purchase, the insider now owns 1,066,189 shares in the company, valued at approximately $13,807,147.55. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 27.20% of the company’s stock.

Analyst Upgrades and Downgrades

CG has been the subject of a number of research analyst reports. Citigroup increased their price target on The Carlyle Group from $41.00 to $45.00 and gave the stock a “neutral” rating in a report on Thursday, February 8th. UBS Group increased their price objective on shares of The Carlyle Group from $46.00 to $50.00 and gave the stock a “neutral” rating in a research report on Friday, April 12th. Oppenheimer cut their target price on The Carlyle Group from $74.00 to $68.00 and set an “outperform” rating on the stock in a research report on Thursday. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $48.00 price objective (down from $50.00) on shares of The Carlyle Group in a research note on Thursday. Finally, Barclays decreased their target price on The Carlyle Group from $56.00 to $47.00 and set an “overweight” rating on the stock in a research note on Thursday. One analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $44.25.

About The Carlyle Group

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.