The Carlyle Group L.P. (NASDAQ:CG) Expected to Post Quarterly Sales of $696.36 Million
Equities research analysts expect The Carlyle Group L.P. (NASDAQ:CG) to report $696.36 million in sales for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for The Carlyle Group L.P.’s earnings. The lowest sales estimate is $645.80 million and the highest is $746.91 million. The Carlyle Group L.P. reported sales of $608.00 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 14.5%. The firm is expected to issue its next earnings results before the market opens on Wednesday, August 2nd.
According to Zacks, analysts expect that The Carlyle Group L.P. will report full-year sales of $696.36 million for the current fiscal year, with estimates ranging from $2.90 billion to $3.10 billion. For the next fiscal year, analysts anticipate that the company will post sales of $2.87 billion per share, with estimates ranging from $2.82 billion to $2.91 billion. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that cover The Carlyle Group L.P..
The Carlyle Group L.P. (NASDAQ:CG) last posted its earnings results on Wednesday, May 3rd. The financial services provider reported $1.09 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.38 by $0.71. The Carlyle Group L.P. had a return on equity of 33.76% and a net margin of 2.78%. The firm had revenue of $1.12 billion for the quarter, compared to analysts’ expectations of $530.61 million. During the same period in the previous year, the firm earned $0.18 earnings per share. The business’s revenue was up 131.9% compared to the same quarter last year.
Several research analysts recently weighed in on CG shares. Credit Suisse Group restated a “hold” rating and set a $20.00 target price on shares of The Carlyle Group L.P. in a research note on Thursday, April 6th. Bank of America Corporation upgraded The Carlyle Group L.P. from a “neutral” rating to a “buy” rating in a research note on Thursday, June 8th. Keefe, Bruyette & Woods upgraded The Carlyle Group L.P. from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $17.50 to $20.00 in a research note on Thursday, May 4th. Zacks Investment Research raised The Carlyle Group L.P. from a “hold” rating to a “buy” rating and set a $20.00 price objective for the company in a report on Thursday, May 11th. Finally, Jefferies Group LLC boosted their price objective on The Carlyle Group L.P. from $17.00 to $18.50 and gave the company a “hold” rating in a report on Wednesday, May 10th. Three investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $20.61.
In other The Carlyle Group L.P. news, insider Pamela L. Bentley sold 9,928 shares of the business’s stock in a transaction that occurred on Wednesday, May 3rd. The stock was sold at an average price of $17.40, for a total transaction of $172,747.20. Following the completion of the sale, the insider now directly owns 161,702 shares in the company, valued at approximately $2,813,614.80. The transaction was disclosed in a document filed with the SEC, which is available through this link.
Several large investors have recently bought and sold shares of CG. Private Wealth Partners LLC raised its stake in The Carlyle Group L.P. by 0.5% in the first quarter. Private Wealth Partners LLC now owns 20,500 shares of the financial services provider’s stock worth $327,000 after buying an additional 100 shares during the period. Cambridge Investment Research Advisors Inc. raised its stake in The Carlyle Group L.P. by 1.4% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 10,241 shares of the financial services provider’s stock worth $163,000 after buying an additional 144 shares during the period. First Manhattan Co. raised its stake in The Carlyle Group L.P. by 6.9% in the first quarter. First Manhattan Co. now owns 10,830 shares of the financial services provider’s stock worth $168,000 after buying an additional 700 shares during the period. Whittier Trust Co. raised its stake in The Carlyle Group L.P. by 3.0% in the second quarter. Whittier Trust Co. now owns 42,601 shares of the financial services provider’s stock worth $841,000 after buying an additional 1,234 shares during the period. Finally, Creative Planning raised its stake in The Carlyle Group L.P. by 5.9% in the second quarter. Creative Planning now owns 34,958 shares of the financial services provider’s stock worth $690,000 after buying an additional 1,950 shares during the period. Institutional investors and hedge funds own 45.44% of the company’s stock.
Shares of The Carlyle Group L.P. (NASDAQ CG) traded down 1.092% during midday trading on Thursday, reaching $20.375. The company had a trading volume of 465,787 shares. The firm’s 50 day moving average price is $19.05 and its 200-day moving average price is $17.28. The Carlyle Group L.P. has a 1-year low of $14.35 and a 1-year high of $20.85. The stock has a market capitalization of $1.75 billion, a price-to-earnings ratio of 94.767 and a beta of 1.83.
The Carlyle Group L.P. Company Profile
The Carlyle Group L.P. is a diversified multi-product global alternative asset management firm. The Company operates in four segments: Corporate Private Equity (CPE), Real Assets, Global Market Strategies (GMS) and Investment Solutions. Corporate Private Equity advises its buyout and growth capital funds, which pursue various corporate investments of different sizes and growth potentials.
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