Carlyle Group Inc. Plans Quarterly Dividend of $0.35 (NASDAQ:CG)

Key Points

• Carlyle Group declared a quarterly dividend of $0.35 per share, payable August 26 to shareholders of record on August 17. The dividend implies a 2.9% annualized yield and brings the annual payout to $1.40 per share.
• The dividend appears well covered, with a current payout ratio of 30% and an expected future payout ratio of 27% based on projected earnings. Carlyle has raised its dividend for four consecutive years.
• Carlyle’s latest earnings exceeded expectations, with EPS of $1.07 versus the $0.91 consensus and revenue of $1.11 billion, although revenue declined 28.6% year over year. Analysts maintain a consensus “Hold” rating with an average price target of $59.79.

Carlyle Group Inc. (NASDAQ:CG - Get Free Report) declared a quarterly dividend on Wednesday, August 5th. Shareholders of record on Monday, August 17th will be paid a dividend of 0.35 per share by the financial services provider on Wednesday, August 26th. This represents a c) dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date of this dividend is Monday, August 17th.

Carlyle Group has raised its dividend payment by an average of 0.1%per year over the last three years and has increased its dividend annually for the last 4 consecutive years. Carlyle Group has a payout ratio of 30.0% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Carlyle Group to earn $5.18 per share next year, which means the company should continue to be able to cover its $1.40 annual dividend with an expected future payout ratio of 27.0%.

Carlyle Group Price Performance

Shares of NASDAQ CG traded down $1.20 during mid-day trading on Thursday, hitting $48.64. 2,321,987 shares of the company's stock traded hands, compared to its average volume of 3,335,707. The company has a market capitalization of $17.51 billion, a P/E ratio of 33.29, a PEG ratio of 1.78 and a beta of 1.83. Carlyle Group has a 1 year low of $39.60 and a 1 year high of $69.85. The company has a debt-to-equity ratio of 1.92, a current ratio of 2.55 and a quick ratio of 2.55. The company's 50-day moving average is $44.67 and its two-hundred day moving average is $49.04.

Carlyle Group (NASDAQ:CG - Get Free Report) last issued its quarterly earnings data on Tuesday, August 4th. The financial services provider reported $1.07 earnings per share for the quarter, topping the consensus estimate of $0.91 by $0.16. The company had revenue of $1.11 billion for the quarter, compared to analysts' expectations of $923.50 million. Carlyle Group had a return on equity of 20.95% and a net margin of 13.46%.The firm's revenue for the quarter was down 28.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.87 earnings per share. On average, equities analysts anticipate that Carlyle Group will post 3.71 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Keefe, Bruyette & Woods increased their price target on Carlyle Group from $47.00 to $50.00 and gave the company a "market perform" rating in a report on Thursday. BMO Capital Markets restated an "outperform" rating and issued a $52.00 target price on shares of Carlyle Group in a report on Monday, July 13th. Evercore set a $51.00 price target on shares of Carlyle Group in a report on Thursday. JPMorgan Chase & Co. decreased their price objective on shares of Carlyle Group from $66.00 to $63.00 and set a "neutral" rating for the company in a research note on Friday, May 8th. Finally, Morgan Stanley set a $57.00 price target on Carlyle Group in a report on Tuesday, July 21st. Seven equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $59.79.

About Carlyle Group

The Carlyle Group NASDAQ: CG is a global alternative asset manager that invests across a range of strategies including private equity, real assets (such as real estate and infrastructure), global credit, and investment solutions. Founded in 1987 and headquartered in Washington, DC, Carlyle raises and manages investment funds that acquire, operate and exit companies and assets on behalf of institutional and private investors. The firm is publicly traded on the Nasdaq exchange and operates as an asset manager and investment advisor rather than as an operating company.

Carlyle's core activities include sourcing and executing private equity buyouts and growth investments, originating and managing credit and financing solutions, and acquiring and operating real asset portfolios.

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