The Carlyle Group Inc. to Post Q1 2024 Earnings of $0.88 Per Share, Zacks Research Forecasts (NASDAQ:CG)

The Carlyle Group Inc. (NASDAQ:CG) – Stock analysts at Zacks Research lifted their Q1 2024 EPS estimates for The Carlyle Group in a report released on Tuesday, April 9th. Zacks Research analyst R. Department now expects that the financial services provider will post earnings per share of $0.88 for the quarter, up from their previous forecast of $0.86. The consensus estimate for The Carlyle Group’s current full-year earnings is $3.93 per share. Zacks Research also issued estimates for The Carlyle Group’s Q1 2025 earnings at $1.19 EPS.

The Carlyle Group (NASDAQ:CG) last released its quarterly earnings data on Wednesday, February 7th. The financial services provider reported $0.86 EPS for the quarter, beating analysts’ consensus estimates of $0.78 by $0.08. The Carlyle Group had a negative net margin of 20.53% and a positive return on equity of 19.74%. The company had revenue of $896.40 million during the quarter, compared to analyst estimates of $860.68 million. During the same period last year, the business earned $1.01 earnings per share. The Carlyle Group’s revenue was down 15.4% compared to the same quarter last year.

Other equities analysts have also issued reports about the stock. Barclays raised their price objective on shares of The Carlyle Group from $55.00 to $56.00 and gave the company an “overweight” rating in a research report on Monday. TheStreet lowered shares of The Carlyle Group from a “b-” rating to a “c” rating in a research report on Wednesday, February 7th. Citigroup lifted their target price on shares of The Carlyle Group from $41.00 to $45.00 and gave the company a “neutral” rating in a research report on Thursday, February 8th. TD Cowen assumed coverage on shares of The Carlyle Group in a research report on Thursday, January 4th. They set a “market perform” rating and a $42.00 target price for the company. Finally, JMP Securities lifted their target price on shares of The Carlyle Group from $52.00 to $58.00 and gave the company a “market outperform” rating in a research report on Thursday, February 8th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, The Carlyle Group has an average rating of “Hold” and an average price target of $42.00.

The Carlyle Group Price Performance

CG stock opened at $47.23 on Thursday. The firm has a 50 day moving average of $45.56 and a 200-day moving average of $38.40. The company has a current ratio of 2.27, a quick ratio of 2.27 and a debt-to-equity ratio of 1.52. The Carlyle Group has a 12 month low of $25.20 and a 12 month high of $48.52. The firm has a market capitalization of $17.10 billion, a P/E ratio of -27.95, a price-to-earnings-growth ratio of 1.03 and a beta of 1.79.

Hedge Funds Weigh In On The Carlyle Group

A number of hedge funds have recently bought and sold shares of the company. Bank of New York Mellon Corp lifted its stake in The Carlyle Group by 3.6% during the 1st quarter. Bank of New York Mellon Corp now owns 586,876 shares of the financial services provider’s stock valued at $28,704,000 after acquiring an additional 20,136 shares during the period. Cambridge Investment Research Advisors Inc. increased its position in shares of The Carlyle Group by 7.3% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 7,786 shares of the financial services provider’s stock valued at $381,000 after purchasing an additional 531 shares during the last quarter. Cetera Advisor Networks LLC purchased a new stake in shares of The Carlyle Group during the 1st quarter valued at about $200,000. MetLife Investment Management LLC purchased a new stake in shares of The Carlyle Group during the 1st quarter valued at about $159,000. Finally, BlackRock Inc. increased its position in shares of The Carlyle Group by 7.2% during the 1st quarter. BlackRock Inc. now owns 15,257,115 shares of the financial services provider’s stock valued at $746,227,000 after purchasing an additional 1,020,504 shares during the last quarter. Institutional investors own 55.88% of the company’s stock.

Insider Activity

In other The Carlyle Group news, major shareholder Carlyle Group Inc. bought 190,000 shares of the company’s stock in a transaction dated Thursday, February 8th. The shares were purchased at an average price of $12.95 per share, for a total transaction of $2,460,500.00. Following the acquisition, the insider now owns 1,066,189 shares in the company, valued at approximately $13,807,147.55. The purchase was disclosed in a filing with the SEC, which is available at this link. Company insiders own 27.00% of the company’s stock.

The Carlyle Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Friday, February 23rd were issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.96%. The ex-dividend date of this dividend was Thursday, February 22nd. The Carlyle Group’s dividend payout ratio (DPR) is presently -82.84%.

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.