$708.62 Million in Sales Expected for The Carlyle Group LP (CG) This Quarter

Wall Street brokerages predict that The Carlyle Group LP (NASDAQ:CG) will report sales of $708.62 million for the current fiscal quarter, Zacks reports. Two analysts have made estimates for The Carlyle Group’s earnings. The highest sales estimate is $746.00 million and the lowest is $671.24 million. The Carlyle Group posted sales of $575.90 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 23%. The business is expected to report its next earnings report before the market opens on Wednesday, February 7th.

According to Zacks, analysts expect that The Carlyle Group will report full year sales of $708.62 million for the current fiscal year, with estimates ranging from $3.08 billion to $3.26 billion. For the next fiscal year, analysts anticipate that the firm will post sales of $3.19 billion per share, with estimates ranging from $2.96 billion to $3.52 billion. Zacks Investment Research’s sales averages are an average based on a survey of research firms that cover The Carlyle Group.

The Carlyle Group (NASDAQ:CG) last released its quarterly earnings data on Tuesday, October 31st. The financial services provider reported $0.56 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.48 by $0.08. The Carlyle Group had a return on equity of 43.32% and a net margin of 5.43%. The business had revenue of $639.90 million for the quarter, compared to analysts’ expectations of $668.32 million. During the same quarter in the previous year, the business posted $0.66 EPS.

A number of equities research analysts recently issued reports on the company. BidaskClub raised The Carlyle Group from a “sell” rating to a “hold” rating in a research report on Saturday, December 9th. Zacks Investment Research lowered The Carlyle Group from a “buy” rating to a “hold” rating in a research report on Friday, October 6th. TheStreet raised The Carlyle Group from a “d+” rating to a “c” rating in a research report on Tuesday, October 31st. Morgan Stanley set a $28.00 price target on The Carlyle Group and gave the stock a “buy” rating in a research report on Monday, December 4th. Finally, JPMorgan Chase & Co. lowered their price target on The Carlyle Group from $28.00 to $26.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 1st. Four investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $24.89.

Shares of The Carlyle Group (CG) opened at $24.35 on Friday. The Carlyle Group has a 1 year low of $15.45 and a 1 year high of $25.85. The stock has a market capitalization of $8,270.00, a P/E ratio of 13.38 and a beta of 1.79. The company has a debt-to-equity ratio of 2.23, a current ratio of 1.27 and a quick ratio of 1.23.

In related news, Director Edward J. Mathias sold 17,133 shares of the business’s stock in a transaction that occurred on Monday, November 20th. The stock was sold at an average price of $21.21, for a total transaction of $363,390.93. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. FMR LLC lifted its position in shares of The Carlyle Group by 201.6% during the 2nd quarter. FMR LLC now owns 1,901,705 shares of the financial services provider’s stock valued at $37,559,000 after acquiring an additional 1,271,205 shares during the period. Goldman Sachs Group Inc. lifted its position in shares of The Carlyle Group by 29.2% during the 2nd quarter. Goldman Sachs Group Inc. now owns 1,981,876 shares of the financial services provider’s stock valued at $39,142,000 after acquiring an additional 448,150 shares during the period. Wells Fargo & Company MN lifted its position in shares of The Carlyle Group by 101.4% during the 2nd quarter. Wells Fargo & Company MN now owns 775,466 shares of the financial services provider’s stock valued at $15,316,000 after acquiring an additional 390,337 shares during the period. JPMorgan Chase & Co. lifted its position in shares of The Carlyle Group by 32.1% during the 2nd quarter. JPMorgan Chase & Co. now owns 979,761 shares of the financial services provider’s stock valued at $19,351,000 after acquiring an additional 238,120 shares during the period. Finally, Bamco Inc. NY lifted its position in shares of The Carlyle Group by 2.8% during the 3rd quarter. Bamco Inc. NY now owns 5,665,005 shares of the financial services provider’s stock valued at $133,694,000 after acquiring an additional 152,500 shares during the period. Institutional investors and hedge funds own 38.01% of the company’s stock.

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About The Carlyle Group

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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