The Carlyle Group (NASDAQ:CG) Posts Earnings Results, Beats Expectations By $0.08 EPS

The Carlyle Group (NASDAQ:CG - Get Free Report) released its quarterly earnings results on Wednesday. The financial services provider reported $0.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.87 by $0.08, Briefing.com reports. The Carlyle Group had a negative net margin of 11.67% and a positive return on equity of 24.30%. The company had revenue of $895.00 million for the quarter, compared to analysts' expectations of $908.17 million. During the same period last year, the company earned $0.87 EPS. The firm's revenue for the quarter was up 15.2% compared to the same quarter last year.

The Carlyle Group Stock Performance

Shares of The Carlyle Group stock traded down $0.65 during trading on Friday, hitting $51.70. 1,638,940 shares of the stock were exchanged, compared to its average volume of 2,324,404. The company has a debt-to-equity ratio of 1.75, a quick ratio of 2.55 and a current ratio of 2.55. The stock's fifty day moving average is $45.37 and its 200 day moving average is $43.41. The stock has a market cap of $18.42 billion, a PE ratio of -46.12, a P/E/G ratio of 1.25 and a beta of 1.70. The Carlyle Group has a 12 month low of $29.29 and a 12 month high of $54.52.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on CG shares. Morgan Stanley raised their target price on shares of The Carlyle Group from $46.00 to $50.00 and gave the stock an "equal weight" rating in a research report on Thursday, October 10th. Oppenheimer boosted their price target on The Carlyle Group from $64.00 to $78.00 and gave the company an "outperform" rating in a research report on Wednesday, October 16th. Wells Fargo & Company lifted their price objective on The Carlyle Group from $42.00 to $48.00 and gave the company an "equal weight" rating in a research note on Wednesday, October 9th. Barclays lifted their price target on shares of The Carlyle Group from $46.00 to $50.00 and gave the company an "overweight" rating in a research report on Monday, October 7th. Finally, Redburn Atlantic started coverage on shares of The Carlyle Group in a research note on Tuesday, August 27th. They issued a "buy" rating and a $55.00 target price on the stock. Nine research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $52.40.

Insider Activity

In related news, major shareholder Carlyle Group Inc. sold 924,466 shares of the company's stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $2.14, for a total transaction of $1,978,357.24. Following the transaction, the insider now directly owns 3,643,231 shares of the company's stock, valued at approximately $7,796,514.34. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last 90 days, insiders have sold 1,676,014 shares of company stock valued at $3,687,196. Insiders own 27.20% of the company's stock.

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.

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