The Carlyle Group LP (CG) Expected to Announce Quarterly Sales of $746.70 Million
Analysts expect The Carlyle Group LP (NASDAQ:CG) to report $746.70 million in sales for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for The Carlyle Group’s earnings, with the lowest sales estimate coming in at $670.39 million and the highest estimate coming in at $823.00 million. The Carlyle Group reported sales of $639.90 million during the same quarter last year, which suggests a positive year-over-year growth rate of 16.7%. The company is scheduled to announce its next quarterly earnings report on Tuesday, October 30th.
On average, analysts expect that The Carlyle Group will report full year sales of $3.04 billion for the current fiscal year, with estimates ranging from $2.93 billion to $3.13 billion. For the next fiscal year, analysts anticipate that the company will report sales of $3.52 billion per share, with estimates ranging from $3.38 billion to $3.69 billion. Zacks’ sales calculations are a mean average based on a survey of research analysts that follow The Carlyle Group.
The Carlyle Group (NASDAQ:CG) last posted its earnings results on Wednesday, August 1st. The financial services provider reported $0.69 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.52 by $0.17. The company had revenue of $840.00 million during the quarter, compared to the consensus estimate of $713.35 million. The Carlyle Group had a net margin of 6.37% and a return on equity of 31.20%. The company’s revenue for the quarter was down 2.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.59 earnings per share.
CG stock opened at $23.25 on Tuesday. The company has a quick ratio of 0.59, a current ratio of 0.71 and a debt-to-equity ratio of 2.35. The company has a market capitalization of $2.33 billion, a price-to-earnings ratio of 6.70 and a beta of 1.76. The Carlyle Group has a 12 month low of $19.50 and a 12 month high of $25.90.
In other news, insider Pamela L. Bentley sold 14,179 shares of the business’s stock in a transaction on Wednesday, August 1st. The shares were sold at an average price of $24.30, for a total value of $344,549.70. Following the completion of the sale, the insider now directly owns 136,585 shares in the company, valued at $3,319,015.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Carlyle Group Management L.L.C sold 2,250,000 shares of the business’s stock in a transaction on Thursday, August 2nd. The stock was sold at an average price of $111.91, for a total transaction of $251,797,500.00. The disclosure for this sale can be found here. Insiders sold 2,329,197 shares of company stock valued at $253,721,987 over the last 90 days.
Several institutional investors have recently modified their holdings of CG. IFP Advisors Inc raised its stake in The Carlyle Group by 305.7% during the 1st quarter. IFP Advisors Inc now owns 4,986 shares of the financial services provider’s stock valued at $106,000 after purchasing an additional 3,757 shares during the last quarter. Tuttle Tactical Management acquired a new position in The Carlyle Group during the 2nd quarter valued at $107,000. Synovus Financial Corp acquired a new position in The Carlyle Group during the 1st quarter valued at $129,000. North Star Investment Management Corp. acquired a new position in The Carlyle Group during the 2nd quarter valued at $145,000. Finally, Palo Capital Inc. acquired a new position in The Carlyle Group during the 2nd quarter valued at $214,000. Institutional investors and hedge funds own 40.49% of the company’s stock.
About The Carlyle Group
The Carlyle Group LP is an investment firm specializing in direct and fund of fund investments in Fintech sector. 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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for The Carlyle Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for The Carlyle Group and related companies with MarketBeat.com's FREE daily email newsletter.