The Carlyle Group L.P. (CG) Expected to Post Quarterly Sales of $675.67 Million
Equities analysts expect that The Carlyle Group L.P. (NASDAQ:CG) will announce sales of $675.67 million for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for The Carlyle Group L.P.’s earnings, with the lowest sales estimate coming in at $671.24 million and the highest estimate coming in at $680.10 million. The Carlyle Group L.P. posted sales of $575.90 million during the same quarter last year, which would indicate a positive year over year growth rate of 17.3%. The business is scheduled to issue its next earnings report on Wednesday, February 14th.
According to Zacks, analysts expect that The Carlyle Group L.P. will report full-year sales of $675.67 million for the current fiscal year, with estimates ranging from $3.03 billion to $3.21 billion. For the next financial year, analysts forecast that the firm will post sales of $3.12 billion per share, with estimates ranging from $2.96 billion to $3.38 billion. Zacks Investment Research’s sales averages are an average based on a survey of analysts that follow The Carlyle Group L.P..
The Carlyle Group L.P. (NASDAQ:CG) last issued its quarterly earnings data on Tuesday, October 31st. The financial services provider reported $0.56 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.48 by $0.08. The Carlyle Group L.P. had a return on equity of 43.32% and a net margin of 5.43%. The firm had revenue of $639.90 million during the quarter, compared to the consensus estimate of $668.32 million. During the same quarter in the previous year, the company posted $0.66 EPS.
A number of equities research analysts have recently weighed in on the company. Morgan Stanley boosted their target price on The Carlyle Group L.P. from $23.00 to $25.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 8th. BidaskClub raised The Carlyle Group L.P. from a “hold” rating to a “buy” rating in a research note on Tuesday, September 26th. Credit Suisse Group AG decreased their price objective on The Carlyle Group L.P. from $26.00 to $25.00 and set an “outperform” rating for the company in a research note on Thursday, November 2nd. Deutsche Bank AG lifted their price objective on The Carlyle Group L.P. from $19.00 to $20.00 and gave the stock a “hold” rating in a research note on Thursday, August 3rd. Finally, Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $25.00 price objective on shares of The Carlyle Group L.P. in a research note on Wednesday, August 16th. One research analyst has rated the stock with a sell rating, four have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $24.78.
Several hedge funds have recently modified their holdings of the business. GSA Capital Partners LLP raised its position in The Carlyle Group L.P. by 1,426.7% during the 2nd quarter. GSA Capital Partners LLP now owns 179,338 shares of the financial services provider’s stock worth $3,542,000 after purchasing an additional 167,591 shares during the last quarter. Rockefeller Financial Services Inc. bought a new position in The Carlyle Group L.P. during the 3rd quarter worth $590,000. Spirit of America Management Corp NY bought a new position in The Carlyle Group L.P. during the 3rd quarter worth $340,000. Bank of New York Mellon Corp raised its position in The Carlyle Group L.P. by 21.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 39,001 shares of the financial services provider’s stock worth $770,000 after purchasing an additional 7,000 shares during the last quarter. Finally, Schafer Cullen Capital Management Inc. bought a new position in The Carlyle Group L.P. during the 2nd quarter worth $280,000. 36.76% of the stock is currently owned by hedge funds and other institutional investors.
The Carlyle Group L.P. (CG) traded down $0.08 during mid-day trading on Friday, hitting $21.17. The stock had a trading volume of 771,100 shares, compared to its average volume of 800,926. The company has a market capitalization of $7,160.00, a P/E ratio of 8.57 and a beta of 1.84. The Carlyle Group L.P. has a 12 month low of $14.85 and a 12 month high of $24.85. The company has a current ratio of 1.27, a quick ratio of 1.23 and a debt-to-equity ratio of 2.23.
The company also recently announced a quarterly dividend, which will be paid on Thursday, November 16th. Stockholders of record on Friday, November 10th will be given a $0.56 dividend. This is an increase from The Carlyle Group L.P.’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend is Thursday, November 9th. This represents a $2.24 annualized dividend and a dividend yield of 10.58%. The Carlyle Group L.P.’s dividend payout ratio is presently 123.08%.
About The Carlyle Group L.P.
The Carlyle Group L.P. is a diversified multi-product global alternative asset management firm. The Company operates in four segments: Corporate Private Equity (CPE), Real Assets, Global Market Strategies (GMS) and Investment Solutions. Corporate Private Equity advises its buyout and growth capital funds, which pursue various corporate investments of different sizes and growth potentials.
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