Carlyle Group (NASDAQ:CG) Releases Quarterly Earnings Results, Beats Estimates By $0.16 EPS

Key Points

• Carlyle Group beat quarterly earnings expectations: EPS came in at $1.07 versus the $0.91 consensus, while revenue reached $1.11 billion against estimates of $923.5 million. However, revenue declined 28.6% year over year.
• Shares traded at $49.79, with Carlyle reporting a 13.46% net margin and 20.95% return on equity. The stock has ranged from $39.60 to $69.85 over the past year.
• Analysts remain cautious: The consensus rating is “Hold,” with a $60.07 average price target; seven analysts rate the stock a Buy, eight a Hold and one a Sell. Institutional investors own 55.88% of the company.

Carlyle Group (NASDAQ:CG - Get Free Report) announced its quarterly earnings data on Tuesday. The financial services provider reported $1.07 EPS for the quarter, beating the consensus estimate of $0.91 by $0.16, FiscalAI reports. The company had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $923.50 million. Carlyle Group had a net margin of 13.46% and a return on equity of 20.95%. Carlyle Group's revenue for the quarter was down 28.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.87 EPS.

Carlyle Group Price Performance

Shares of NASDAQ CG traded down $0.85 during midday trading on Wednesday, reaching $49.79. The stock had a trading volume of 3,270,896 shares, compared to its average volume of 3,329,296. The company has a debt-to-equity ratio of 1.92, a quick ratio of 2.55 and a current ratio of 2.55. Carlyle Group has a 12-month low of $39.60 and a 12-month high of $69.85. The stock has a 50-day moving average of $44.58 and a 200-day moving average of $49.16. The company has a market capitalization of $17.92 billion, a price-to-earnings ratio of 34.06, a price-to-earnings-growth ratio of 1.71 and a beta of 1.83.

Analyst Upgrades and Downgrades

CG has been the subject of several analyst reports. The Goldman Sachs Group reduced their price target on shares of Carlyle Group from $81.00 to $69.00 and set a "buy" rating for the company in a research report on Tuesday, April 7th. TD Cowen decreased their price objective on shares of Carlyle Group from $53.00 to $50.00 and set a "hold" rating for the company in a report on Monday, May 18th. Evercore set a $56.00 target price on Carlyle Group in a research report on Tuesday, April 21st. JPMorgan Chase & Co. reduced their price target on shares of Carlyle Group from $66.00 to $63.00 and set a "neutral" rating for the company in a research report on Friday, May 8th. Finally, Citizens Jmp reduced their target price on shares of Carlyle Group from $75.00 to $70.00 and set a "market outperform" rating for the company in a report on Thursday, July 9th. Seven investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, Carlyle Group currently has a consensus rating of "Hold" and a consensus price target of $60.07.

Institutional Trading of Carlyle Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in CG. Polymer Capital Management US LLC bought a new position in shares of Carlyle Group during the fourth quarter worth $1,085,000. NewEdge Advisors LLC increased its holdings in shares of Carlyle Group by 178.1% in the fourth quarter. NewEdge Advisors LLC now owns 16,632 shares of the financial services provider's stock worth $983,000 after purchasing an additional 10,651 shares during the last quarter. Mackenzie Financial Corp bought a new position in Carlyle Group during the third quarter valued at approximately $957,000. Benjamin Edwards Inc. grew its holdings in Carlyle Group by 2.5% during the 2nd quarter. Benjamin Edwards Inc. now owns 17,111 shares of the financial services provider's stock valued at $880,000 after buying an additional 415 shares in the last quarter. Finally, Focus Partners Wealth grew its holdings in shares of Carlyle Group by 58.1% in the third quarter. Focus Partners Wealth now owns 10,209 shares of the financial services provider's stock valued at $640,000 after purchasing an additional 3,752 shares in the last quarter. Institutional investors own 55.88% of the company's stock.

Carlyle Group Company Profile

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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