Analysts Anticipate The Carlyle Group L.P. (NASDAQ:CG) Will Post Quarterly Sales of $688.22 Million

Brokerages expect that The Carlyle Group L.P. (NASDAQ:CG) will post sales of $688.22 million for the current quarter, according to Zacks. Two analysts have made estimates for The Carlyle Group L.P.’s earnings, with estimates ranging from $684.50 million to $691.93 million. The Carlyle Group L.P. posted sales of $607.30 million during the same quarter last year, which suggests a positive year over year growth rate of 13.3%. The business is expected to issue its next quarterly earnings results on Wednesday, October 25th.

On average, analysts expect that The Carlyle Group L.P. will report full-year sales of $688.22 million for the current year, with estimates ranging from $2.90 billion to $3.25 billion. For the next financial year, analysts forecast that the business will post sales of $2.96 billion per share, with estimates ranging from $2.88 billion to $3.07 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that follow The Carlyle Group L.P..

The Carlyle Group L.P. (NASDAQ:CG) last posted its quarterly earnings data on Wednesday, August 2nd. The financial services provider reported $0.81 EPS for the quarter, beating the Zacks’ consensus estimate of $0.44 by $0.37. The Carlyle Group L.P. had a net margin of 4.13% and a return on equity of 41.32%. The firm had revenue of $908.40 million for the quarter, compared to the consensus estimate of $696.36 million. During the same period in the prior year, the firm posted $0.35 EPS.

Several equities analysts have recently issued reports on CG shares. Bank of America Corporation upgraded The Carlyle Group L.P. from a “neutral” rating to a “buy” rating in a research report on Thursday, June 8th. Oppenheimer Holdings, Inc. boosted their target price on The Carlyle Group L.P. from $28.00 to $29.00 and gave the stock an “outperform” rating in a research report on Friday, July 14th. Zacks Investment Research upgraded The Carlyle Group L.P. from a “hold” rating to a “strong-buy” rating and set a $22.00 target price for the company in a research report on Wednesday, July 5th. Keefe, Bruyette & Woods upgraded The Carlyle Group L.P. from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $17.50 to $20.00 in a research report on Thursday, May 4th. Finally, Credit Suisse Group upgraded The Carlyle Group L.P. from a “neutral” rating to an “outperform” rating and set a $23.00 target price for the company in a research report on Thursday, May 11th. Four investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $21.81.

Shares of The Carlyle Group L.P. (CG) opened at 20.80 on Wednesday. The Carlyle Group L.P. has a one year low of $14.35 and a one year high of $22.05. The firm’s 50 day moving average is $20.07 and its 200-day moving average is $17.64. The firm has a market capitalization of $1.85 billion, a PE ratio of 48.26 and a beta of 1.83.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 21st. Investors of record on Monday, August 14th will be given a $0.42 dividend. The ex-dividend date is Thursday, August 10th. This is a positive change from The Carlyle Group L.P.’s previous quarterly dividend of $0.10. This represents a $1.68 annualized dividend and a dividend yield of 8.08%. The Carlyle Group L.P.’s payout ratio is currently 30.53%.

In related news, CFO Curtis L. Buser sold 20,968 shares of the business’s stock in a transaction that occurred on Wednesday, August 2nd. The stock was sold at an average price of $21.25, for a total value of $445,570.00. Following the completion of the transaction, the chief financial officer now directly owns 354,610 shares in the company, valued at approximately $7,535,462.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Edward J. Mathias sold 6,593 shares of the business’s stock in a transaction that occurred on Wednesday, August 2nd. The shares were sold at an average price of $21.25, for a total value of $140,101.25. Following the completion of the transaction, the director now owns 34,114 shares of the company’s stock, valued at $724,922.50. The disclosure for this sale can be found here. Insiders sold a total of 62,013 shares of company stock valued at $1,317,776 over the last quarter.

A number of institutional investors have recently added to or reduced their stakes in CG. Renaissance Technologies LLC purchased a new position in The Carlyle Group L.P. during the fourth quarter worth $1,684,000. Creative Planning increased its position in The Carlyle Group L.P. by 19.8% in the first quarter. Creative Planning now owns 33,008 shares of the financial services provider’s stock worth $526,000 after buying an additional 5,458 shares during the period. SOL Capital Management CO increased its position in The Carlyle Group L.P. by 19.3% in the first quarter. SOL Capital Management CO now owns 157,950 shares of the financial services provider’s stock worth $2,519,000 after buying an additional 25,500 shares during the period. Private Wealth Partners LLC increased its position 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. Finally, LGT Capital Partners LTD. purchased a new position in The Carlyle Group L.P. during the first quarter worth $3,908,000. 45.18% of the stock is owned by hedge funds and other institutional investors.

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About The Carlyle Group L.P.

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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