Analysts expect The Carlyle Group LP (NASDAQ:CG) to report $591.45 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for The Carlyle Group’s earnings, with estimates ranging from $559.50 million to $623.40 million. The Carlyle Group reported sales of $702.80 million during the same quarter last year, which indicates a negative year over year growth rate of 15.8%. The business is scheduled to issue its next quarterly earnings results on Tuesday, May 7th.
According to Zacks, analysts expect that The Carlyle Group will report full year sales of $2.59 billion for the current year, with estimates ranging from $2.38 billion to $2.80 billion. For the next year, analysts forecast that the company will post sales of $2.97 billion, with estimates ranging from $2.76 billion to $3.34 billion. Zacks’ 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 posted its quarterly earnings data on Wednesday, February 6th. The financial services provider reported ($0.15) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.36) by $0.21. The Carlyle Group had a return on equity of 12.27% and a net margin of 4.56%. The firm had revenue of $151.70 million for the quarter, compared to analysts’ expectations of $143.99 million. During the same period in the previous year, the firm earned $1.01 EPS.
CG has been the topic of a number of research analyst reports. BidaskClub raised The Carlyle Group from a “strong sell” rating to a “sell” rating in a report on Friday, November 2nd. ValuEngine raised The Carlyle Group from a “strong sell” rating to a “sell” rating in a report on Thursday, November 1st. Oppenheimer set a $34.00 price target on The Carlyle Group and gave the stock a “buy” rating in a report on Wednesday, October 31st. Zacks Investment Research raised The Carlyle Group from a “strong sell” rating to a “hold” rating in a report on Friday, November 2nd. Finally, JPMorgan Chase & Co. boosted their price target on The Carlyle Group from $27.00 to $28.00 and gave the stock an “overweight” rating in a report on Friday, November 2nd. Seven equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $23.77.
Shares of CG stock traded down $0.01 during trading hours on Friday, reaching $18.20. 501,115 shares of the company traded hands, compared to its average volume of 659,502. The Carlyle Group has a 12-month low of $15.09 and a 12-month high of $25.25. The company has a quick ratio of 2.52, a current ratio of 2.54 and a debt-to-equity ratio of 2.61. The stock has a market cap of $1.98 billion, a P/E ratio of 6.92 and a beta of 1.69.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 26th. Shareholders of record on Tuesday, February 19th will be paid a $0.43 dividend. This is an increase from The Carlyle Group’s previous quarterly dividend of $0.42. The ex-dividend date is Friday, February 15th. This represents a $1.72 dividend on an annualized basis and a yield of 9.45%. The Carlyle Group’s payout ratio is presently 65.40%.
In other The Carlyle Group news, CFO Curtis L. Buser sold 31,200 shares of The Carlyle Group stock in a transaction that occurred on Wednesday, February 13th. The stock was sold at an average price of $18.55, for a total value of $578,760.00. Following the sale, the chief financial officer now owns 641,909 shares of the company’s stock, valued at approximately $11,907,411.95. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.
Large investors have recently added to or reduced their stakes in the business. California Public Employees Retirement System increased its position in shares of The Carlyle Group by 40.5% during the 2nd quarter. California Public Employees Retirement System now owns 175,223 shares of the financial services provider’s stock valued at $3,732,000 after purchasing an additional 50,493 shares during the last quarter. Westbourne Investment Advisors Inc. bought a new position in The Carlyle Group in the 3rd quarter valued at $113,000. Cornerstone Wealth Management LLC bought a new position in The Carlyle Group in the 3rd quarter valued at $200,000. IFP Advisors Inc grew its position in The Carlyle Group by 208.9% in the 3rd quarter. IFP Advisors Inc now owns 18,542 shares of the financial services provider’s stock valued at $418,000 after acquiring an additional 12,539 shares during the last quarter. Finally, Prospera Financial Services Inc grew its position in The Carlyle Group by 9.1% in the 3rd quarter. Prospera Financial Services Inc now owns 31,226 shares of the financial services provider’s stock valued at $666,000 after acquiring an additional 2,615 shares during the last quarter. 40.17% of the stock is currently owned by institutional investors and hedge funds.
About The Carlyle Group
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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