Wall Street brokerages forecast that The Carlyle Group L.P. (NASDAQ:CG) will announce $688.22 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for The Carlyle Group L.P.’s earnings. The lowest sales estimate is $684.50 million and the highest is $691.93 million. The Carlyle Group L.P. reported sales of $607.30 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 13.3%. The company is expected to issue its next quarterly earnings report on Wednesday, October 25th.
According to Zacks, analysts expect that The Carlyle Group L.P. will report full-year sales of $688.22 million for the current fiscal year, with estimates ranging from $3.16 billion to $3.25 billion. For the next fiscal year, analysts expect that the business will post sales of $3.00 billion per share, with estimates ranging from $2.93 billion to $3.07 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that that provide coverage for The Carlyle Group L.P..
The Carlyle Group L.P. (NASDAQ:CG) last posted its earnings results on Wednesday, August 2nd. The financial services provider reported $0.81 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.44 by $0.37. The Carlyle Group L.P. had a return on equity of 41.32% and a net margin of 4.13%. The firm had revenue of $908.40 million for the quarter, compared to analyst estimates of $696.36 million. During the same quarter in the prior year, the company earned $0.35 EPS.
Several equities analysts have commented on the stock. Keefe, Bruyette & Woods reissued a “buy” rating and set a $25.00 target price on shares of The Carlyle Group L.P. in a research report on Wednesday, August 16th. Citigroup Inc. increased their target price on shares of The Carlyle Group L.P. from $24.50 to $25.50 and gave the stock a “neutral” rating in a research report on Tuesday, August 15th. Morgan Stanley increased their target price on shares of The Carlyle Group L.P. from $23.00 to $25.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 8th. TheStreet raised shares of The Carlyle Group L.P. from a “d” rating to a “c-” rating in a research report on Wednesday, August 2nd. Finally, ValuEngine raised shares of The Carlyle Group L.P. from a “buy” rating to a “strong-buy” rating in a research report on Thursday, August 3rd. Five investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $22.78.
In related news, Director Edward J. Mathias sold 6,593 shares of the stock in a transaction dated Wednesday, August 2nd. The shares were sold at an average price of $21.25, for a total value of $140,101.25. Following the completion of the sale, the director now owns 34,114 shares in the company, valued at $724,922.50. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Pamela L. Bentley sold 17,760 shares of the stock in a transaction dated Wednesday, August 2nd. The shares were sold at an average price of $21.25, for a total transaction of $377,400.00. Following the completion of the sale, the insider now owns 143,942 shares of the company’s stock, valued at approximately $3,058,767.50. The disclosure for this sale can be found here. Insiders have sold 62,013 shares of company stock valued at $1,317,776 over the last 90 days.
Several large investors have recently added to or reduced their stakes in the stock. Cambridge Investment Research Advisors Inc. boosted its stake in The Carlyle Group L.P. by 1.4% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 10,241 shares of the financial services provider’s stock valued at $163,000 after buying an additional 144 shares during the last quarter. Penserra Capital Management LLC boosted its stake in The Carlyle Group L.P. by 8.7% in the second quarter. Penserra Capital Management LLC now owns 5,254 shares of the financial services provider’s stock valued at $103,000 after buying an additional 419 shares during the last quarter. First Manhattan Co. boosted its stake in The Carlyle Group L.P. by 6.9% in the first quarter. First Manhattan Co. now owns 10,830 shares of the financial services provider’s stock valued at $168,000 after buying an additional 700 shares during the last quarter. Whittier Trust Co. boosted its stake in The Carlyle Group L.P. by 3.0% in the second quarter. Whittier Trust Co. now owns 42,601 shares of the financial services provider’s stock valued at $841,000 after buying an additional 1,234 shares during the last quarter. Finally, Wilbanks Smith & Thomas Asset Management LLC boosted its stake in The Carlyle Group L.P. by 1.1% in the second quarter. Wilbanks Smith & Thomas Asset Management LLC now owns 143,795 shares of the financial services provider’s stock valued at $2,840,000 after buying an additional 1,500 shares during the last quarter. Institutional investors and hedge funds own 42.79% of the company’s stock.
The Carlyle Group L.P. (NASDAQ:CG) opened at 20.85 on Friday. The Carlyle Group L.P. has a 1-year low of $14.35 and a 1-year high of $22.13. The firm has a market cap of $1.90 billion, a price-to-earnings ratio of 48.83 and a beta of 1.83. The company’s 50-day moving average price is $20.79 and its 200 day moving average price is $18.06.
The company also recently declared a quarterly dividend, which was paid on Monday, August 21st. Shareholders of record on Monday, August 14th were issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 8.06%. This is a boost from The Carlyle Group L.P.’s previous quarterly dividend of $0.10. The ex-dividend date of this dividend was Thursday, August 10th. The Carlyle Group L.P.’s dividend payout ratio is 128.24%.
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The Carlyle Group L.P. Company Profile
The Carlyle Group L.P. is a diversified multi-product global alternative asset management firm. The Company operates in four segments: Corporate Private Equity (CPE), Real Assets, Global Market Strategies (GMS) and Investment Solutions. Corporate Private Equity advises its buyout and growth capital funds, which pursue various corporate investments of different sizes and growth potentials.
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