TPG (NASDAQ:TPG) Releases Earnings Results, Meets Estimates

TPG (NASDAQ:TPG) announced its quarterly earnings results on Monday. The company reported $0.45 EPS for the quarter, meeting analysts’ consensus estimates of $0.45, Briefing.com reports. TPG had a return on equity of 23.57% and a net margin of 0.69%. The company had revenue of $855.40 million during the quarter, compared to analysts’ expectations of $449.98 million. During the same period in the prior year, the company earned $0.56 EPS.

TPG Trading Up 11.4 %

TPG stock traded up $6.91 during trading hours on Wednesday, reaching $67.79. 2,665,679 shares of the company’s stock were exchanged, compared to its average volume of 873,062. The company has a quick ratio of 0.25, a current ratio of 0.25 and a debt-to-equity ratio of 0.37. The firm’s 50 day simple moving average is $58.95 and its 200 day simple moving average is $49.39. TPG has a twelve month low of $29.63 and a twelve month high of $69.86. The firm has a market capitalization of $24.73 billion, a PE ratio of -194.11, a PEG ratio of 0.98 and a beta of 1.49.

TPG Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Thursday, November 14th will be issued a dividend of $0.38 per share. The ex-dividend date is Thursday, November 14th. This represents a $1.52 dividend on an annualized basis and a yield of 2.24%. TPG’s payout ratio is currently -494.10%.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. JPMorgan Chase & Co. increased their price target on TPG from $44.00 to $49.00 and gave the company a “neutral” rating in a research note on Wednesday, August 7th. BMO Capital Markets increased their price target on TPG from $45.00 to $60.00 and gave the company a “market perform” rating in a research note on Tuesday. Deutsche Bank Aktiengesellschaft increased their price target on TPG from $65.00 to $67.00 and gave the company a “buy” rating in a research note on Tuesday. Wells Fargo & Company increased their price objective on TPG from $67.00 to $68.00 and gave the company an “overweight” rating in a report on Tuesday. Finally, TD Cowen decreased their price objective on TPG from $62.00 to $58.00 and set a “hold” rating for the company in a report on Wednesday. Seven research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $57.50.

About TPG

TPG Inc operates as an alternative asset manager in the United States and internationally. The company offers investment management services to TPG Funds, limited partners, and other vehicles. It also offers monitoring services to portfolio companies; advisory, debt and equity arrangement, and underwriting and placement services; and capital structuring and other advisory services to portfolio companies.