Q2 2024 EPS Estimates for The Carlyle Group Inc. Cut by Analyst (NASDAQ:CG)

The Carlyle Group Inc. (NASDAQ:CG) – Stock analysts at Zacks Research lowered their Q2 2024 earnings per share estimates for The Carlyle Group in a research note issued to investors on Wednesday, May 22nd. Zacks Research analyst R. Department now expects that the financial services provider will earn $0.88 per share for the quarter, down from their prior forecast 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 released its quarterly earnings results on Wednesday, May 1st. The financial services provider reported $1.01 earnings per share for the quarter, topping analysts’ consensus estimates of $0.92 by $0.09. The company had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $986.10 million. The Carlyle Group had a positive return on equity of 23.92% and a negative net margin of 23.04%. The Carlyle Group’s quarterly revenue was up 35.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.63 EPS.

A number of other research firms have also weighed in on CG. UBS Group boosted their price target 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. Oppenheimer cut their price target on The Carlyle Group from $74.00 to $68.00 and set an “outperform” rating for the company in a report on Thursday, May 2nd. The Goldman Sachs Group dropped their target price on The Carlyle Group from $54.00 to $48.00 and set a “buy” rating for the company in a report on Thursday, May 2nd. TheStreet lowered The Carlyle Group from a “b-” rating to a “c” rating in a report on Wednesday, February 7th. Finally, JMP Securities upped their price objective on shares of The Carlyle Group from $52.00 to $58.00 and gave the company a “market outperform” rating in a report on Thursday, February 8th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $45.60.

The Carlyle Group Stock Performance

CG opened at $44.55 on Thursday. The company has a market cap of $16.03 billion, a price-to-earnings ratio of -24.89, a PEG ratio of 1.22 and a beta of 1.77. The firm’s fifty day simple moving average is $44.87 and its two-hundred day simple moving average is $41.55. The company has a quick ratio of 2.53, a current ratio of 2.53 and a debt-to-equity ratio of 1.53. The Carlyle Group has a 52-week low of $27.13 and a 52-week high of $48.52.

Institutional Trading of The Carlyle Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Teacher Retirement System of Texas lifted its holdings in shares of The Carlyle Group by 2.3% in the 3rd quarter. Teacher Retirement System of Texas now owns 16,797 shares of the financial services provider’s stock valued at $507,000 after purchasing an additional 372 shares during the last quarter. Nisa Investment Advisors LLC purchased a new position in shares of The Carlyle Group during the third quarter worth approximately $187,000. Principal Financial Group Inc. increased its holdings in shares of The Carlyle Group by 5.5% in the 3rd quarter. Principal Financial Group Inc. now owns 16,575 shares of the financial services provider’s stock valued at $500,000 after acquiring an additional 862 shares during the period. California Public Employees Retirement System boosted its stake in The Carlyle Group by 5.2% during the 3rd quarter. California Public Employees Retirement System now owns 403,112 shares of the financial services provider’s stock worth $12,158,000 after purchasing an additional 19,940 shares during the period. Finally, Tokio Marine Asset Management Co. Ltd. increased its stake in The Carlyle Group by 10.1% in the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 8,790 shares of the financial services provider’s stock valued at $265,000 after purchasing an additional 803 shares during the period. Institutional investors and hedge funds own 55.88% of the company’s stock.

The Carlyle Group Announces Dividend

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 $0.35 dividend. The ex-dividend date was Monday, May 13th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.14%. The Carlyle Group’s payout ratio is currently -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.