The Carlyle Group (NASDAQ:CG) Issues Earnings Results

The Carlyle Group (NASDAQ:CG) issued its quarterly earnings results on Monday. The financial services provider reported $0.78 earnings per share for the quarter, missing the consensus estimate of $0.83 by ($0.05), Briefing.com reports. The Carlyle Group had a positive return on equity of 23.92% and a negative net margin of 23.04%. The company had revenue of $1.07 billion for the quarter, compared to analyst estimates of $808.73 million. During the same period in the prior year, the business earned $0.88 earnings per share. The Carlyle Group’s revenue for the quarter was up 131.5% compared to the same quarter last year.

The Carlyle Group Trading Down 3.8 %

CG stock opened at $39.34 on Wednesday. The Carlyle Group has a 52 week low of $27.13 and a 52 week high of $50.92. The company has a market cap of $14.16 billion, a price-to-earnings ratio of -21.98, a PEG ratio of 1.38 and a beta of 1.75. The company has a quick ratio of 2.53, a current ratio of 2.53 and a debt-to-equity ratio of 1.53. The business has a fifty day simple moving average of $42.47 and a 200-day simple moving average of $43.73.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on CG shares. The Goldman Sachs Group cut their target price on The Carlyle Group from $54.00 to $48.00 and set a “buy” rating for the company in a research note on Thursday, May 2nd. Jefferies Financial Group decreased their price objective on shares of The Carlyle Group from $49.00 to $44.00 and set a “hold” rating on the stock in a report on Thursday, May 9th. Oppenheimer lowered their price target on The Carlyle Group from $69.00 to $64.00 and set an “outperform” rating on the stock in a report on Tuesday. JPMorgan Chase & Co. downgraded The Carlyle Group from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $46.00 to $44.00 in a research report on Tuesday. Finally, UBS Group dropped their price target on The Carlyle Group from $45.00 to $44.00 and set a “neutral” rating for the company in a research report on Wednesday, July 10th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $45.57.

Insiders Place Their Bets

In related news, major shareholder Carlyle Group Inc. sold 127,981 shares of the firm’s stock in a transaction on Friday, June 14th. The stock was sold at an average price of $36.19, for a total transaction of $4,631,632.39. Following the transaction, the insider now directly owns 12,123,705 shares in the company, valued at $438,756,883.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold a total of 2,065,207 shares of company stock worth $74,807,347 over the last quarter. 27.20% of the stock is owned by corporate insiders.

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.