Wall Street analysts predict that The Carlyle Group LP (NASDAQ:CG) will post $528.91 million in sales for the current quarter, Zacks reports. Three analysts have issued estimates for The Carlyle Group’s earnings. The lowest sales estimate is $515.90 million and the highest is $536.10 million. The Carlyle Group posted sales of $679.10 million during the same quarter last year, which suggests a negative year over year growth rate of 22.1%. The company is scheduled to announce its next quarterly earnings results on Wednesday, October 30th.
On average, analysts expect that The Carlyle Group will report full year sales of $2.09 billion for the current year, with estimates ranging from $2.06 billion to $2.11 billion. For the next financial year, analysts expect that the business will post sales of $2.83 billion, with estimates ranging from $2.74 billion to $2.93 billion. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that cover The Carlyle Group.
The Carlyle Group (NASDAQ:CG) last released its earnings results on Wednesday, July 31st. The financial services provider reported $0.57 EPS for the quarter, topping analysts’ consensus estimates of $0.36 by $0.21. The company had revenue of $550.70 million for the quarter, compared to the consensus estimate of $496.69 million. The Carlyle Group had a return on equity of 6.07% and a net margin of 12.74%. The Carlyle Group’s quarterly revenue was up 19.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.69 EPS.
In other news, major shareholder Carlyle Group Management L.L.C sold 800,000 shares of The Carlyle Group stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $110.74, for a total transaction of $88,592,000.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Pamela L. Bentley sold 10,000 shares of The Carlyle Group stock in a transaction on Friday, May 31st. The shares were sold at an average price of $19.79, for a total value of $197,900.00. Following the transaction, the insider now owns 146,962 shares in the company, valued at $2,908,377.98. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 994,829 shares of company stock worth $93,013,243.
Several hedge funds have recently modified their holdings of CG. Colony Group LLC increased its stake in The Carlyle Group by 12.2% in the second quarter. Colony Group LLC now owns 35,125 shares of the financial services provider’s stock valued at $794,000 after acquiring an additional 3,811 shares during the last quarter. McGowan Group Asset Management Inc. increased its stake in The Carlyle Group by 1.2% in the second quarter. McGowan Group Asset Management Inc. now owns 374,799 shares of the financial services provider’s stock valued at $8,474,000 after acquiring an additional 4,304 shares during the last quarter. Jane Street Group LLC bought a new position in The Carlyle Group in the second quarter valued at approximately $431,000. Bank of America Corp DE boosted its position in The Carlyle Group by 4.9% in the second quarter. Bank of America Corp DE now owns 3,452,482 shares of the financial services provider’s stock valued at $78,060,000 after buying an additional 159,905 shares in the last quarter. Finally, Invesco Ltd. boosted its position in The Carlyle Group by 25.0% in the second quarter. Invesco Ltd. now owns 260,359 shares of the financial services provider’s stock valued at $5,887,000 after buying an additional 51,993 shares in the last quarter. Institutional investors own 44.38% of the company’s stock.
Shares of NASDAQ CG traded up $0.53 during mid-day trading on Friday, hitting $22.70. The company had a trading volume of 1,169,995 shares, compared to its average volume of 780,219. The stock has a market cap of $2.49 billion, a price-to-earnings ratio of 8.66 and a beta of 1.67. The Carlyle Group has a 12 month low of $15.09 and a 12 month high of $25.99. The company has a debt-to-equity ratio of 1.96, a current ratio of 2.72 and a quick ratio of 2.72. The firm’s 50 day simple moving average is $23.31 and its two-hundred day simple moving average is $20.67.
The firm also recently announced a quarterly dividend, which was paid on Monday, August 19th. Investors of record on Monday, August 12th were given a $0.43 dividend. This is a boost from The Carlyle Group’s previous quarterly dividend of $0.19. This represents a $1.72 annualized dividend and a yield of 7.58%. The ex-dividend date of this dividend was Friday, August 9th. The Carlyle Group’s dividend payout ratio (DPR) is currently 65.40%.
The Carlyle Group Company Profile
The Carlyle Group L.P. 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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