Piper Sandler Comments on The Carlyle Group Inc.’s FY2020 Earnings (NASDAQ:CG)

The Carlyle Group Inc. (NASDAQ:CG) – Analysts at Piper Sandler raised their FY2020 earnings per share (EPS) estimates for shares of The Carlyle Group in a research report issued on Wednesday, January 13th. Piper Sandler analyst S. Mody now forecasts that the financial services provider will earn $1.88 per share for the year, up from their prior estimate of $1.81. Piper Sandler also issued estimates for The Carlyle Group’s Q4 2020 earnings at $0.46 EPS, Q1 2021 earnings at $0.50 EPS, Q2 2021 earnings at $0.52 EPS, FY2021 earnings at $2.19 EPS, Q1 2022 earnings at $0.62 EPS, Q2 2022 earnings at $0.63 EPS, Q3 2022 earnings at $0.66 EPS, Q4 2022 earnings at $0.68 EPS and FY2022 earnings at $2.59 EPS.

Several other analysts have also weighed in on the company. Zacks Investment Research upgraded The Carlyle Group from a “sell” rating to a “hold” rating in a report on Tuesday. Citigroup upgraded The Carlyle Group from a “neutral” rating to a “buy” rating and set a $31.00 target price on the stock in a research note on Monday, October 12th. Morgan Stanley increased their target price on The Carlyle Group from $30.00 to $31.00 and gave the stock an “equal weight” rating in a research note on Monday, November 2nd. Credit Suisse Group increased their price target on The Carlyle Group from $31.00 to $33.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 3rd. Finally, Bank of America raised The Carlyle Group from an “underperform” rating to a “buy” rating and increased their price target for the stock from $30.00 to $35.00 in a research report on Friday, November 20th. Nine research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $29.31.

CG stock opened at $33.16 on Thursday. The company has a debt-to-equity ratio of 2.98, a current ratio of 2.37 and a quick ratio of 2.37. The company has a market capitalization of $11.71 billion, a price-to-earnings ratio of -54.36 and a beta of 1.38. The Carlyle Group has a 1-year low of $15.21 and a 1-year high of $34.98. The business has a 50 day simple moving average of $30.52 and a two-hundred day simple moving average of $27.83.

The Carlyle Group (NASDAQ:CG) last announced its quarterly earnings data on Thursday, October 29th. The financial services provider reported $0.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.04. The Carlyle Group had a negative net margin of 5.38% and a positive return on equity of 25.90%. The firm had revenue of $496.50 million for the quarter, compared to analysts’ expectations of $489.84 million. During the same period last year, the firm earned $0.41 earnings per share. The business’s revenue for the quarter was down 5.9% on a year-over-year basis.

In other The Carlyle Group news, major shareholder David M. Rubenstein sold 2,000,000 shares of the business’s stock in a transaction on Tuesday, November 24th. The stock was sold at an average price of $27.30, for a total transaction of $54,600,000.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider David M. Rubenstein sold 750,000 shares of the business’s stock in a transaction on Thursday, December 10th. The stock was sold at an average price of $29.05, for a total value of $21,787,500.00. Following the transaction, the insider now directly owns 42,249,644 shares in the company, valued at approximately $1,227,352,158.20. The disclosure for this sale can be found here.

Large investors have recently bought and sold shares of the business. IFM Investors Pty Ltd raised its position in The Carlyle Group by 48.1% in the fourth quarter. IFM Investors Pty Ltd now owns 15,626 shares of the financial services provider’s stock valued at $491,000 after purchasing an additional 5,073 shares during the period. Diversified Trust Co bought a new stake in The Carlyle Group in the fourth quarter valued at about $238,000. Virtu Financial LLC bought a new stake in The Carlyle Group in the third quarter valued at about $236,000. Jeppson Wealth Management LLC bought a new stake in The Carlyle Group in the third quarter valued at about $710,000. Finally, Public Employees Retirement System of Ohio increased its holdings in The Carlyle Group by 3.9% in the third quarter. Public Employees Retirement System of Ohio now owns 45,350 shares of the financial services provider’s stock valued at $1,119,000 after buying an additional 1,715 shares during the last quarter. Institutional investors own 33.08% of the company’s stock.

About The Carlyle Group

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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Earnings History and Estimates for The Carlyle Group (NASDAQ:CG)

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