The Carlyle Group (NASDAQ:CG) Posts Quarterly Earnings Results, Beats Estimates By $0.08 EPS

The Carlyle Group (NASDAQ:CG) issued its quarterly earnings results on Wednesday. The financial services provider reported $0.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.87 by $0.08, Briefing.com reports. The Carlyle Group had a negative net margin of 11.67% and a positive return on equity of 24.30%. The business had revenue of $895.00 million during the quarter, compared to analyst estimates of $908.17 million. During the same quarter in the previous year, the firm earned $0.87 earnings per share. The business’s revenue was up 15.2% compared to the same quarter last year.

The Carlyle Group Stock Performance

Shares of NASDAQ:CG traded down $0.02 on Friday, hitting $52.33. The company’s stock had a trading volume of 3,324,422 shares, compared to its average volume of 2,332,326. The Carlyle Group has a 12 month low of $29.29 and a 12 month high of $54.52. The stock’s 50-day moving average is $45.37 and its two-hundred day moving average is $43.41. The company has a debt-to-equity ratio of 1.75, a quick ratio of 2.55 and a current ratio of 2.55. The company has a market capitalization of $18.65 billion, a price-to-earnings ratio of -46.32, a price-to-earnings-growth ratio of 1.25 and a beta of 1.70.

The Carlyle Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 25th. Investors of record on Monday, November 18th will be given a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 2.68%. The ex-dividend date of this dividend is Monday, November 18th. The Carlyle Group’s dividend payout ratio is currently -125.00%.

Analysts Set New Price Targets

CG has been the subject of several research analyst reports. JMP Securities reissued a “market outperform” rating and issued a $60.00 target price on shares of The Carlyle Group in a research report on Wednesday, October 9th. Deutsche Bank Aktiengesellschaft cut their price objective on The Carlyle Group from $55.00 to $53.00 and set a “buy” rating on the stock in a research note on Thursday, August 15th. Wells Fargo & Company boosted their price target on The Carlyle Group from $42.00 to $48.00 and gave the company an “equal weight” rating in a report on Wednesday, October 9th. UBS Group raised their price objective on The Carlyle Group from $43.00 to $54.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 22nd. Finally, Evercore ISI increased their target price on shares of The Carlyle Group from $45.00 to $47.00 and gave the stock an “in-line” rating in a report on Monday, October 14th. Nine research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, The Carlyle Group presently has a consensus rating of “Hold” and a consensus price target of $52.87.

Insider Buying and Selling

In related news, major shareholder Carlyle Group Inc. sold 924,466 shares of the firm’s stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $2.14, for a total transaction of $1,978,357.24. Following the transaction, the insider now owns 3,643,231 shares in the company, valued at $7,796,514.34. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold 1,676,014 shares of company stock valued at $3,687,196 over the last 90 days. 27.20% of the stock is currently owned by company insiders.

The Carlyle Group Company Profile

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.