Zacks Research Research Analysts Reduce Earnings Estimates for The Carlyle Group Inc. (NASDAQ:CG)

The Carlyle Group Inc. (NASDAQ:CG) – Research analysts at Zacks Research reduced their Q2 2024 EPS estimates for The Carlyle Group in a report issued on Wednesday, May 22nd. Zacks Research analyst R. Department now anticipates that the financial services provider will earn $0.88 per share for the quarter, down from their prior estimate of $1.01. The consensus estimate for The Carlyle Group’s current full-year earnings is $3.92 per share. Zacks Research also issued estimates for The Carlyle Group’s Q3 2024 earnings at $0.99 EPS and Q1 2026 earnings at $1.16 EPS.

The Carlyle Group (NASDAQ:CG) last issued its quarterly earnings data on Wednesday, May 1st. The financial services provider reported $1.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.92 by $0.09. The business had revenue of $1.02 billion during the quarter, compared to analyst estimates of $986.10 million. The Carlyle Group had a negative net margin of 23.04% and a positive return on equity of 23.92%. The firm’s quarterly revenue was up 35.6% on a year-over-year basis. During the same quarter last year, the business earned $0.63 EPS.

Several other brokerages also recently commented on CG. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $48.00 price objective (down previously from $50.00) on shares of The Carlyle Group in a research report on Thursday, May 2nd. Jefferies Financial Group reduced their price objective on shares of The Carlyle Group from $49.00 to $44.00 and set a “hold” rating for the company in a research report on Thursday, May 9th. UBS Group raised their price objective on shares of The Carlyle Group from $46.00 to $50.00 and gave the stock a “neutral” rating in a research report on Friday, April 12th. JPMorgan Chase & Co. increased their target price on The Carlyle Group from $39.00 to $45.00 and gave the stock an “overweight” rating in a report on Thursday, February 8th. Finally, Barclays cut their target price on The Carlyle Group from $56.00 to $47.00 and set an “overweight” rating on the stock in a report on Thursday, May 2nd. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, The Carlyle Group currently has an average rating of “Hold” and a consensus price target of $45.60.

The Carlyle Group Stock Performance

NASDAQ:CG opened at $43.96 on Thursday. The company has a market capitalization of $15.82 billion, a PE ratio of -24.56, a P/E/G ratio of 1.24 and a beta of 1.77. The company has a 50 day simple moving average of $44.87 and a two-hundred day simple moving average of $41.45. The company has a debt-to-equity ratio of 1.53, a quick ratio of 2.53 and a current ratio of 2.53. The Carlyle Group has a fifty-two week low of $27.13 and a fifty-two week high of $48.52.

Institutional Trading of The Carlyle Group

A number of hedge funds have recently bought and sold shares of the company. Swedbank AB bought a new stake in The Carlyle Group in the first quarter valued at approximately $740,000. Western Pacific Wealth Management LP lifted its position in The Carlyle Group by 14.7% in the first quarter. Western Pacific Wealth Management LP now owns 2,447 shares of the financial services provider’s stock valued at $115,000 after purchasing an additional 313 shares during the last quarter. LBP AM SA lifted its position in The Carlyle Group by 42.6% in the first quarter. LBP AM SA now owns 19,886 shares of the financial services provider’s stock valued at $933,000 after purchasing an additional 5,945 shares during the last quarter. Jaffetilchin Investment Partners LLC bought a new stake in The Carlyle Group in the first quarter valued at approximately $219,000. Finally, Comerica Bank lifted its position in The Carlyle Group by 44.5% in the first quarter. Comerica Bank now owns 184,420 shares of the financial services provider’s stock valued at $8,651,000 after purchasing an additional 56,811 shares during the last quarter. Institutional investors own 55.88% of the company’s stock.

The Carlyle Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, May 21st. Stockholders of record on Tuesday, May 14th were issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 3.18%. The ex-dividend date was Monday, May 13th. The Carlyle Group’s payout ratio is -78.21%.

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.