The Carlyle Group Inc. (NASDAQ:CG) – Research analysts at Jefferies Financial Group raised their FY2020 earnings estimates for The Carlyle Group in a research note issued to investors on Sunday, January 10th. Jefferies Financial Group analyst G. O’hara now forecasts that the financial services provider will post earnings per share of $1.82 for the year, up from their prior forecast of $1.80. Jefferies Financial Group also issued estimates for The Carlyle Group’s Q4 2020 earnings at $0.41 EPS, Q1 2021 earnings at $0.47 EPS, Q2 2021 earnings at $0.55 EPS, Q3 2021 earnings at $0.65 EPS, Q4 2021 earnings at $0.80 EPS, FY2021 earnings at $2.46 EPS and FY2022 earnings at $2.57 EPS.
The Carlyle Group (NASDAQ:CG) last issued its quarterly earnings results on Thursday, October 29th. The financial services provider reported $0.40 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.36 by $0.04. The company had revenue of $496.50 million for the quarter, compared to the consensus estimate of $489.84 million. The Carlyle Group had a positive return on equity of 25.90% and a negative net margin of 5.38%. The firm’s revenue was down 5.9% compared to the same quarter last year. During the same period last year, the business posted $0.41 earnings per share.
Several other brokerages also recently issued reports on CG. Morgan Stanley raised their price target on The Carlyle Group from $30.00 to $31.00 and gave the company an “equal weight” rating in a research report on Monday, November 2nd. BidaskClub raised The Carlyle Group from a “hold” rating to a “buy” rating in a research report on Friday, December 18th. Credit Suisse Group raised their price target on The Carlyle Group from $31.00 to $33.00 and gave the company a “neutral” rating in a research report on Tuesday, November 3rd. Bank of America raised The Carlyle Group from an “underperform” rating to a “buy” rating and lifted their target price for the stock from $30.00 to $35.00 in a research report on Friday, November 20th. Finally, Citigroup raised The Carlyle Group from a “neutral” rating to a “buy” rating and set a $31.00 target price on the stock in a research report on Monday, October 12th. Nine analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $29.31.
Shares of NASDAQ:CG opened at $33.41 on Tuesday. The company has a market cap of $11.80 billion, a P/E ratio of -54.77 and a beta of 1.38. The stock’s 50-day moving average is $30.43 and its 200-day moving average is $27.80. The Carlyle Group has a 52-week low of $15.21 and a 52-week high of $34.98. The company has a debt-to-equity ratio of 2.98, a quick ratio of 2.37 and a current ratio of 2.37.
In other The Carlyle Group news, major shareholder David M. Rubenstein sold 2,000,000 shares of the firm’s stock in a transaction dated Tuesday, November 24th. The shares were sold at an average price of $27.30, for a total transaction of $54,600,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider David M. Rubenstein sold 750,000 shares of The Carlyle Group stock in a transaction that occurred on Thursday, December 10th. The shares were sold at an average price of $29.05, for a total transaction of $21,787,500.00. Following the completion of the transaction, the insider now owns 42,249,644 shares of the company’s stock, 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 company. Prospera Financial Services Inc bought a new position in shares of The Carlyle Group in the third quarter valued at approximately $30,000. American International Group Inc. acquired a new stake in shares of The Carlyle Group in the second quarter valued at approximately $47,000. Banque Cantonale Vaudoise acquired a new stake in shares of The Carlyle Group in the third quarter valued at approximately $57,000. Valeo Financial Advisors LLC increased its holdings in shares of The Carlyle Group by 2,539.6% in the third quarter. Valeo Financial Advisors LLC now owns 2,534 shares of the financial services provider’s stock valued at $63,000 after purchasing an additional 2,438 shares in the last quarter. Finally, Glenmede Trust Co. NA increased its holdings in shares of The Carlyle Group by 79.0% in the second quarter. Glenmede Trust Co. NA now owns 3,758 shares of the financial services provider’s stock valued at $104,000 after purchasing an additional 1,658 shares in the last quarter. Institutional investors own 33.08% of the company’s stock.
The Carlyle Group Company Profile
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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