The Carlyle Group Inc. (NASDAQ:CG) - Investment analysts at Piper Sandler cut their Q2 2021 EPS estimates for shares of The Carlyle Group in a report issued on Monday, May 3rd. Piper Sandler analyst S. Mody now anticipates that the financial services provider will post earnings of $0.55 per share for the quarter, down from their previous estimate of $0.56. Piper Sandler also issued estimates for The Carlyle Group's Q3 2021 earnings at $0.56 EPS and Q4 2021 earnings at $0.62 EPS. The Carlyle Group (NASDAQ:CG) last issued its quarterly earnings data on Thursday, April 29th. The financial services provider reported $0.58 earnings per share (EPS) for the quarter, beating the Thomson Reuters' consensus estimate of $0.54 by $0.04. The company had revenue of $612.50 million for the quarter, compared to analyst estimates of $595.12 million. The Carlyle Group had a negative net margin of 5.38% and a positive return on equity of 25.90%. The Carlyle Group's revenue was up 5.4% compared to the same quarter last year. During the same period last year, the company posted $0.48 earnings per share.
A number of other research firms have also recently commented on CG. Credit Suisse Group raised shares of The Carlyle Group from a "neutral" rating to an "outperform" rating and increased their target price for the company from $40.00 to $42.00 in a research report on Thursday, February 25th. Deutsche Bank Aktiengesellschaft upped their target price on The Carlyle Group from $37.00 to $39.00 and gave the company a "hold" rating in a research report on Wednesday, February 24th. TheStreet upgraded The Carlyle Group from a "d+" rating to a "c" rating in a research note on Friday, February 5th. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell increased their price objective on shares of The Carlyle Group from $43.50 to $49.50 in a research report on Tuesday. Finally, Morgan Stanley upped their price target on shares of The Carlyle Group from $41.00 to $44.00 and gave the company an "equal weight" rating in a research note on Tuesday. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company. The Carlyle Group currently has an average rating of "Buy" and an average target price of $38.33.
Shares of The Carlyle Group stock opened at $44.81 on Wednesday. The Carlyle Group has a one year low of $22.36 and a one year high of $44.85. The company has a market capitalization of $15.89 billion, a PE ratio of -73.46 and a beta of 1.38. The company has a debt-to-equity ratio of 2.98, a quick ratio of 2.37 and a current ratio of 2.37. The company has a 50-day simple moving average of $38.99 and a two-hundred day simple moving average of $33.46.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Arizona State Retirement System lifted its stake in The Carlyle Group by 1.9% in the 1st quarter. Arizona State Retirement System now owns 40,743 shares of the financial services provider's stock valued at $1,498,000 after buying an additional 748 shares in the last quarter. Bank of Nova Scotia boosted its stake in shares of The Carlyle Group by 897.2% in the first quarter. Bank of Nova Scotia now owns 1,226,468 shares of the financial services provider's stock worth $45,085,000 after acquiring an additional 1,103,472 shares during the last quarter. Spectrum Management Group LLC raised its stake in The Carlyle Group by 1.4% in the 1st quarter. Spectrum Management Group LLC now owns 80,697 shares of the financial services provider's stock valued at $2,966,000 after purchasing an additional 1,152 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its holdings in shares of The Carlyle Group by 25.5% during the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 31,498 shares of the financial services provider's stock worth $1,158,000 after buying an additional 6,400 shares in the last quarter. Finally, Standard Life Aberdeen plc acquired a new position in The Carlyle Group during the first quarter worth about $238,000. 33.08% of the stock is owned by institutional investors.
In other The Carlyle Group news, General Counsel Jeffrey W. Ferguson sold 14,236 shares of The Carlyle Group stock in a transaction on Tuesday, February 9th. The shares were sold at an average price of $36.60, for a total value of $521,037.60. Following the completion of the transaction, the general counsel now owns 1,016,647 shares of the company's stock, valued at $37,209,280.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Kewsong Lee sold 2,639 shares of the stock in a transaction dated Monday, May 3rd. The stock was sold at an average price of $43.49, for a total transaction of $114,770.11. The disclosure for this sale can be found here. Insiders sold 3,226,363 shares of company stock worth $115,703,069 in the last 90 days.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 19th. Shareholders of record on Tuesday, May 11th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, May 10th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.23%. The Carlyle Group's payout ratio is currently 58.82%.
About The Carlyle Group
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.
Further Reading: Compound Annual Growth Rate (CAGR)
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