The Carlyle Group (NASDAQ:CG) Issues Quarterly Earnings Results, Beats Expectations By $0.08 EPS
by Sarita Garza · The Markets DailyThe Carlyle Group (NASDAQ:CG – Get Free Report) posted its quarterly earnings data on Wednesday. The financial services provider reported $0.95 earnings per share for the quarter, beating the consensus estimate of $0.87 by $0.08, Briefing.com reports. The company had revenue of $895.00 million during the quarter, compared to analysts’ expectations of $908.17 million. The Carlyle Group had a positive return on equity of 24.30% and a negative net margin of 11.67%. The Carlyle Group’s revenue for the quarter was up 15.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.87 earnings per share.
The Carlyle Group Trading Down 1.2 %
Shares of CG stock traded down $0.65 on Friday, reaching $51.70. 1,638,940 shares of the stock were exchanged, compared to its average volume of 2,324,404. The stock has a 50 day moving average price of $45.37 and a 200 day moving average price of $43.41. The stock has a market cap of $18.42 billion, a PE ratio of -46.12, a P/E/G ratio of 1.25 and a beta of 1.70. The Carlyle Group has a one year low of $29.29 and a one year high of $54.52. The company has a debt-to-equity ratio of 1.75, a current ratio of 2.55 and a quick ratio of 2.55.
Analyst Upgrades and Downgrades
Several equities analysts recently issued reports on the company. Oppenheimer boosted their price target on The Carlyle Group from $64.00 to $78.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Keefe, Bruyette & Woods boosted their price target on shares of The Carlyle Group from $51.00 to $55.00 and gave the company a “market perform” rating in a report on Friday. Deutsche Bank Aktiengesellschaft decreased their target price on shares of The Carlyle Group from $55.00 to $53.00 and set a “buy” rating on the stock in a research report on Thursday, August 15th. Barclays raised their price target on shares of The Carlyle Group from $46.00 to $50.00 and gave the stock an “overweight” rating in a research note on Monday, October 7th. Finally, Redburn Atlantic initiated coverage on The Carlyle Group in a research note on Tuesday, August 27th. They issued a “buy” rating and a $55.00 price target on the stock. Nine analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $52.40.
Get Our Latest Stock Analysis on The Carlyle Group
Insiders Place Their Bets
In other news, major shareholder Carlyle Group Inc. sold 92,905 shares of the stock in a transaction on Friday, October 11th. The stock was sold at an average price of $2.27, for a total value of $210,894.35. Following the transaction, the insider now owns 3,155,461 shares of the company’s stock, valued at $7,162,896.47. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last three months, insiders sold 1,676,014 shares of company stock valued at $3,687,196. 27.20% of the stock is currently owned by 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.
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