The Carlyle Group (NASDAQ:CG) Reaches New 12-Month High on Strong Earnings

The Carlyle Group Inc. (NASDAQ:CGGet Free Report)’s stock price reached a new 52-week high during mid-day trading on Wednesday following a better than expected earnings announcement. The company traded as high as $44.77 and last traded at $43.93, with a volume of 870242 shares. The stock had previously closed at $40.72.

The financial services provider reported $0.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.78 by $0.08. The company had revenue of $896.40 million for the quarter, compared to the consensus estimate of $860.68 million. The Carlyle Group had a return on equity of 19.43% and a net margin of 7.65%. The Carlyle Group’s revenue was down 15.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.01 EPS.

The Carlyle Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 1st. Shareholders of record on Friday, February 23rd will be given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 3.07%. The ex-dividend date of this dividend is Thursday, February 22nd. The Carlyle Group’s payout ratio is currently 241.38%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on CG. Morgan Stanley increased their price target on shares of The Carlyle Group from $34.00 to $40.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 24th. TD Cowen began coverage on The Carlyle Group in a research report on Thursday, January 4th. They set a “market perform” rating and a $42.00 price target on the stock. Citigroup increased their price objective on The Carlyle Group from $41.00 to $45.00 and gave the stock a “neutral” rating in a report on Thursday. Evercore ISI cut shares of The Carlyle Group from an “outperform” rating to an “in-line” rating and set a $32.00 target price on the stock. in a report on Wednesday, November 29th. Finally, JPMorgan Chase & Co. lifted their price target on shares of The Carlyle Group from $39.00 to $45.00 and gave the company an “overweight” rating in a research report on Thursday. Two research analysts have rated the stock with a sell rating, six have given a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, The Carlyle Group presently has an average rating of “Hold” and an average target price of $41.80.

View Our Latest Stock Report on CG

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the stock. AdvisorNet Financial Inc increased its position in shares of The Carlyle Group by 125.5% during the 3rd quarter. AdvisorNet Financial Inc now owns 814 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 453 shares during the last quarter. Sunbelt Securities Inc. purchased a new stake in The Carlyle Group during the first quarter valued at approximately $31,000. CVA Family Office LLC purchased a new position in shares of The Carlyle Group during the 4th quarter worth $35,000. GAMMA Investing LLC bought a new stake in shares of The Carlyle Group during the 4th quarter valued at $38,000. Finally, UniSuper Management Pty Ltd bought a new position in The Carlyle Group in the 2nd quarter worth $45,000. 55.88% of the stock is owned by hedge funds and other institutional investors.

The Carlyle Group Stock Up 3.1 %

The company has a 50-day moving average of $39.75 and a two-hundred day moving average of $34.08. The company has a debt-to-equity ratio of 1.34, a current ratio of 2.94 and a quick ratio of 2.92. The company has a market capitalization of $16.42 billion, a PE ratio of 78.64 and a beta of 1.77.

The Carlyle Group Company Profile

(Get Free Report)

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.

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