TPG (NASDAQ:TPG) Releases Earnings Results, Meets Expectations

TPG (NASDAQ:TPG - Get Free Report) announced its earnings results on Monday. The company reported $0.45 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.45, Briefing.com reports. TPG had a net margin of 1.08% and a return on equity of 24.27%. The business had revenue of $855.40 million for the quarter, compared to analyst estimates of $449.98 million. During the same period last year, the firm posted $0.56 earnings per share.

TPG Price Performance

NASDAQ TPG traded down $0.91 during mid-day trading on Tuesday, hitting $60.88. The stock had a trading volume of 1,318,848 shares, compared to its average volume of 865,496. The company has a 50 day simple moving average of $58.74 and a 200 day simple moving average of $49.27. The company has a market cap of $22.21 billion, a price-to-earnings ratio of -172.37, a P/E/G ratio of 1.04 and a beta of 1.49. TPG has a 52-week low of $28.93 and a 52-week high of $69.86. The company has a quick ratio of 0.25, a current ratio of 0.25 and a debt-to-equity ratio of 0.37.

TPG Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Thursday, November 14th will be paid a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 2.50%. The ex-dividend date is Thursday, November 14th. TPG's dividend payout ratio (DPR) is -479.99%.

Analysts Set New Price Targets

A number of research firms have commented on TPG. Evercore ISI lifted their price objective on shares of TPG from $46.00 to $60.00 and gave the company an "in-line" rating in a research note on Monday, October 14th. The Goldman Sachs Group upped their price objective on TPG from $60.00 to $63.00 and gave the company a "buy" rating in a research note on Thursday, October 3rd. Wells Fargo & Company boosted their target price on TPG from $67.00 to $68.00 and gave the company an "overweight" rating in a report on Tuesday. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of TPG from $65.00 to $67.00 and gave the company a "buy" rating in a research report on Tuesday. Finally, JPMorgan Chase & Co. upped their price objective on shares of TPG from $44.00 to $49.00 and gave the stock a "neutral" rating in a research report on Wednesday, August 7th. Seven equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $56.17.

TPG Company Profile

TPG Inc operates as an alternative asset manager in the United States and internationally. The company offers investment management services to TPG Funds, limited partners, and other vehicles. It also offers monitoring services to portfolio companies; advisory, debt and equity arrangement, and underwriting and placement services; and capital structuring and other advisory services to portfolio companies.