Equities research analysts expect The Carlyle Group LP (NASDAQ:CG) to announce sales of $746.70 million for the current quarter, Zacks reports. Two analysts have provided estimates for The Carlyle Group’s earnings, with the lowest sales estimate coming in at $670.39 million and the highest estimate coming in at $823.00 million. The Carlyle Group reported sales of $639.90 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 16.7%. The firm is scheduled to announce its next earnings results on Tuesday, October 30th.
According to Zacks, analysts expect that The Carlyle Group will report full year sales of $3.04 billion for the current fiscal year, with estimates ranging from $2.93 billion to $3.13 billion. For the next financial year, analysts anticipate that the business will report sales of $3.52 billion per share, with estimates ranging from $3.38 billion to $3.69 billion. Zacks’ sales averages are a mean average based on a survey of analysts that that provide coverage for The Carlyle Group.
The Carlyle Group (NASDAQ:CG) last issued its quarterly earnings data on Wednesday, August 1st. The financial services provider reported $0.69 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.52 by $0.17. The business had revenue of $840.00 million during the quarter, compared to analysts’ expectations of $713.35 million. The Carlyle Group had a net margin of 6.37% and a return on equity of 31.20%. The company’s revenue was down 2.2% on a year-over-year basis. During the same period last year, the company posted $0.59 EPS.
A number of equities analysts have weighed in on the stock. ValuEngine lowered shares of The Carlyle Group from a “hold” rating to a “sell” rating in a report on Monday, July 2nd. BidaskClub upgraded shares of The Carlyle Group from a “hold” rating to a “buy” rating in a report on Saturday, July 7th. Oppenheimer set a $35.00 price target on shares of The Carlyle Group and gave the company a “buy” rating in a report on Wednesday, August 1st. Morgan Stanley reduced their target price on shares of The Carlyle Group from $31.00 to $30.00 and set an “overweight” rating on the stock in a report on Thursday, July 12th. Finally, Zacks Investment Research upgraded shares of The Carlyle Group from a “hold” rating to a “buy” rating and set a $24.00 target price on the stock in a report on Tuesday, July 3rd. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and eight have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $28.80.
In related news, major shareholder Carlyle Group Management L.L.C sold 2,250,000 shares of the business’s stock in a transaction dated Thursday, August 2nd. The shares were sold at an average price of $111.91, for a total transaction of $251,797,500.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Pamela L. Bentley sold 14,179 shares of the business’s stock in a transaction dated Wednesday, August 1st. The shares were sold at an average price of $24.30, for a total transaction of $344,549.70. Following the sale, the insider now directly owns 136,585 shares of the company’s stock, valued at approximately $3,319,015.50. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 2,329,197 shares of company stock valued at $253,721,987.
Institutional investors have recently bought and sold shares of the business. Alkeon Capital Management LLC lifted its stake in shares of The Carlyle Group by 165.3% in the 1st quarter. Alkeon Capital Management LLC now owns 2,006,228 shares of the financial services provider’s stock worth $42,833,000 after acquiring an additional 1,250,000 shares during the period. Bank of Montreal Can acquired a new stake in shares of The Carlyle Group in the 2nd quarter worth approximately $17,466,000. JPMorgan Chase & Co. lifted its stake in shares of The Carlyle Group by 108.5% in the 1st quarter. JPMorgan Chase & Co. now owns 1,504,658 shares of the financial services provider’s stock worth $32,124,000 after acquiring an additional 782,961 shares during the period. Algebris UK Ltd lifted its stake in shares of The Carlyle Group by 78.4% in the 2nd quarter. Algebris UK Ltd now owns 1,133,997 shares of the financial services provider’s stock worth $24,154,000 after acquiring an additional 498,397 shares during the period. Finally, Partners Group Holding AG lifted its stake in The Carlyle Group by 31.3% during the first quarter. Partners Group Holding AG now owns 1,312,667 shares of the financial services provider’s stock valued at $28,025,000 after purchasing an additional 312,596 shares during the last quarter. 40.48% of the stock is owned by hedge funds and other institutional investors.
CG stock traded up $0.20 during midday trading on Tuesday, hitting $24.00. The stock had a trading volume of 23,024 shares, compared to its average volume of 456,560. The stock has a market capitalization of $2.39 billion, a P/E ratio of 6.90 and a beta of 1.76. The company has a debt-to-equity ratio of 2.35, a quick ratio of 0.59 and a current ratio of 0.71. The Carlyle Group has a 12-month low of $19.50 and a 12-month high of $25.90.
About The Carlyle Group
The Carlyle Group LP is an investment firm specializing in direct and fund of fund investments in Fintech sector. 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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