$528.91 Million in Sales Expected for The Carlyle Group LP (NASDAQ:CG) This Quarter
Wall Street brokerages expect The Carlyle Group LP (NASDAQ:CG) to announce $528.91 million in sales for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for The Carlyle Group’s earnings, with estimates ranging from $515.90 million to $536.10 million. The Carlyle Group posted sales of $679.10 million in the same quarter last year, which suggests a negative year-over-year growth rate of 22.1%. The company is expected to issue its next quarterly earnings report on Wednesday, October 30th.
According to Zacks, analysts expect that The Carlyle Group will report full-year sales of $2.09 billion for the current financial year, with estimates ranging from $2.06 billion to $2.11 billion. For the next year, analysts expect that the company will report sales of $2.83 billion, with estimates ranging from $2.74 billion to $2.93 billion. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that that provide coverage for The Carlyle Group.
The Carlyle Group (NASDAQ:CG) last posted its earnings results on Wednesday, July 31st. The financial services provider reported $0.57 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.36 by $0.21. The firm had revenue of $550.70 million during the quarter, compared to the consensus estimate of $496.69 million. The Carlyle Group had a net margin of 12.74% and a return on equity of 6.07%. The company’s revenue was up 19.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.69 EPS.
In other news, major shareholder Carlyle Group Management L.L.C sold 800,000 shares of the stock in a transaction that occurred 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Pamela L. Bentley sold 10,000 shares of the stock in a transaction that occurred 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 of the company’s stock, valued at $2,908,377.98. The disclosure for this sale can be found here. In the last 90 days, insiders sold 994,829 shares of company stock valued at $93,013,243.
Several institutional investors have recently added to or reduced their stakes in CG. Colony Group LLC boosted its position in The Carlyle Group by 12.2% during the 2nd quarter. Colony Group LLC now owns 35,125 shares of the financial services provider’s stock worth $794,000 after acquiring an additional 3,811 shares during the period. McGowan Group Asset Management Inc. raised its stake in shares of The Carlyle Group by 1.2% during the 2nd quarter. McGowan Group Asset Management Inc. now owns 374,799 shares of the financial services provider’s stock worth $8,474,000 after purchasing an additional 4,304 shares in the last quarter. Jane Street Group LLC purchased a new stake in shares of The Carlyle Group during the 2nd quarter worth about $431,000. Bank of America Corp DE raised its stake in shares of The Carlyle Group by 4.9% during the 2nd quarter. Bank of America Corp DE now owns 3,452,482 shares of the financial services provider’s stock worth $78,060,000 after purchasing an additional 159,905 shares in the last quarter. Finally, Invesco Ltd. raised its stake in shares of The Carlyle Group by 25.0% during the 2nd quarter. Invesco Ltd. now owns 260,359 shares of the financial services provider’s stock worth $5,887,000 after purchasing an additional 51,993 shares in the last quarter. Institutional investors own 44.38% of the company’s stock.
CG traded down $0.74 on Friday, reaching $22.02. 567,667 shares of the company’s stock were exchanged, compared to its average volume of 1,570,300. The company’s 50 day moving average is $23.24 and its 200-day moving average is $20.72. The company has a market cap of $2.52 billion, a price-to-earnings ratio of 8.37 and a beta of 1.67. The Carlyle Group has a twelve month low of $15.09 and a twelve month high of $25.99. The company has a debt-to-equity ratio of 1.96, a quick ratio of 2.72 and a current ratio of 2.72.
The business also recently declared a quarterly dividend, which was paid on Monday, August 19th. Shareholders of record on Monday, August 12th were issued a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a yield of 7.81%. The ex-dividend date was Friday, August 9th. This is a boost from The Carlyle Group’s previous quarterly dividend of $0.19. The Carlyle Group’s dividend payout ratio is currently 65.40%.
About The Carlyle Group
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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