The Carlyle Group LP (NASDAQ:CG) declared a quarterly dividend on Friday, July 31st, Wall Street Journal reports. Investors of record on Tuesday, August 11th will be given a dividend of 0.25 per share by the financial services provider on Tuesday, August 18th. This represents a $1.00 dividend on an annualized basis and a yield of 3.51%. The ex-dividend date of this dividend is Monday, August 10th.
The Carlyle Group has decreased its dividend payment by an average of 19.1% per year over the last three years and has increased its dividend every year for the last 1 years. The Carlyle Group has a payout ratio of 68.0% meaning its dividend is sufficiently covered by earnings. Equities analysts expect The Carlyle Group to earn $2.12 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 47.2%.
NASDAQ:CG opened at $28.47 on Friday. The company has a market cap of $10.20 billion, a price-to-earnings ratio of -32.35 and a beta of 1.66. The Carlyle Group has a twelve month low of $15.21 and a twelve month high of $34.98. The company has a current ratio of 2.72, a quick ratio of 2.72 and a debt-to-equity ratio of 3.22. The stock has a fifty day simple moving average of $28.75 and a 200-day simple moving average of $27.33.
The Carlyle Group (NASDAQ:CG) last announced its quarterly earnings data on Thursday, July 30th. The financial services provider reported $0.53 earnings per share for the quarter, beating analysts’ consensus estimates of $0.36 by $0.17. The company had revenue of $582.20 million during the quarter, compared to analyst estimates of $475.52 million. The Carlyle Group had a negative net margin of 13.03% and a positive return on equity of 18.68%. The firm’s revenue for the quarter was up 5.7% on a year-over-year basis. During the same quarter last year, the business posted $1.23 EPS. As a group, equities research analysts predict that The Carlyle Group will post 1.55 EPS for the current fiscal year.
In other news, major shareholder Carlyle Group Management L.L.C sold 7,545,000 shares of the company’s stock in a transaction on Monday, June 29th. The shares were sold at an average price of $29.76, for a total transaction of $224,539,200.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Over the last three months, insiders have sold 12,165,000 shares of company stock valued at $784,024,400.
CG has been the subject of several research reports. TD Securities cut shares of The Carlyle Group to a “hold” rating and upped their price target for the stock from $15.50 to $17.00 in a research report on Tuesday, June 30th. Morgan Stanley upped their target price on The Carlyle Group from $23.00 to $29.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 14th. ValuEngine downgraded The Carlyle Group from a “hold” rating to a “sell” rating in a report on Saturday, July 18th. Citigroup downgraded The Carlyle Group from a “buy” rating to a “neutral” rating in a research report on Monday, June 8th. Finally, Deutsche Bank lifted their target price on The Carlyle Group from $23.00 to $24.00 and gave the company a “hold” rating in a research note on Friday, May 15th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have given a buy rating to the company. The Carlyle Group presently has a consensus rating of “Hold” and an average price target of $28.38.
The Carlyle Group Company Profile
The Carlyle Group L.P. 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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