TPG (NASDAQ:TPG) Releases Quarterly Earnings Results, Meets Estimates

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

TPG Stock Up 11.4 %

TPG stock opened at $67.79 on Thursday. TPG has a one year low of $29.63 and a one year high of $69.86. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.25 and a current ratio of 0.25. The company has a fifty day moving average of $59.31 and a 200-day moving average of $49.52. The stock has a market capitalization of $24.73 billion, a PE ratio of -199.38, a price-to-earnings-growth ratio of 0.98 and a beta of 1.49.

TPG Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Thursday, November 14th will be paid a $0.38 dividend. The ex-dividend date is Thursday, November 14th. This represents a $1.52 annualized dividend and a yield of 2.24%. TPG’s dividend payout ratio is currently -494.10%.

Analyst Upgrades and Downgrades

TPG has been the topic of a number of research reports. Wells Fargo & Company upped their price target on TPG from $67.00 to $68.00 and gave the stock an “overweight” rating in a research note on Tuesday. Evercore ISI increased their target price on TPG from $46.00 to $60.00 and gave the stock an “in-line” rating in a research note on Monday, October 14th. TD Cowen dropped their target price on TPG from $62.00 to $58.00 and set a “hold” rating for the company in a research report on Wednesday. Morgan Stanley increased their price target on shares of TPG from $55.00 to $73.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of TPG from $44.00 to $49.00 and gave the company a “neutral” rating in a report on Wednesday, August 7th. Seven equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $57.50.

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.