The Carlyle Group (CG) Posts Quarterly Earnings, Misses Expectations By $0.01 EPS
The Carlyle Group (NYSE:CG) issued its quarterly earnings data on Wednesday. The company reported $0.73 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.74 by $0.01, Stock Ratings Network reports. The company had revenue of $900.10 million for the quarter, compared to the consensus estimate of $792.35 million. During the same quarter in the prior year, the company posted $0.39 earnings per share. The company’s quarterly revenue was up 77.2% on a year-over-year basis.
The Carlyle Group (NYSE:CG) traded up 2.27% during mid-day trading on Wednesday, hitting $35.17. The stock had a trading volume of 119,536 shares. The Carlyle Group has a 1-year low of $24.66 and a 1-year high of $39.38. The stock’s 50-day moving average is $34.03 and its 200-day moving average is $33.89. The company has a market cap of $2.254 billion and a price-to-earnings ratio of 17.75.
The company also recently declared a quarterly dividend, which is scheduled for Friday, August 22nd. Stockholders of record on Monday, August 11th will be given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 1.86%.
CG has been the subject of a number of recent research reports. Analysts at Zacks upgraded shares of The Carlyle Group from an “underperform” rating to a “neutral” rating in a research note on Thursday, July 17th. They now have a $35.50 price target on the stock. On the ratings front, analysts at Citigroup Inc. downgraded shares of The Carlyle Group from a “buy” rating to a “neutral” rating in a research note on Wednesday, July 9th. Six investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $35.90.
The Carlyle Group L.P. is a global alternative asset management firm. It conducts its operations through four segments: Corporate Private Equity, Real Assets, Global Market Strategies and Fund of Funds Solutions.
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