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On August 2nd, The Carlyle Group (NASDAQ: CG), a prominent financial services provider, released its latest earnings results. According to the report, the company exceeded expectations with earnings per share of $0.88 for the quarter, surpassing the consensus estimate of $0.65 by $0.23. Additionally, The Carlyle Group generated $977.90 million in revenue during the period, compared to the anticipated $809.12 million.
These positive results have showcased the company’s ability to perform well amidst challenging economic conditions and uncertain market landscapes. With a net margin of 13.11% and a return on equity of 24.12%, The Carlyle Group has demonstrated its efficiency and effectiveness in managing investments and delivering value to shareholders.
Moreover, recent transactions involving key executives have also garnered attention within the financial industry. Chief Financial Officer Curtis L. Buser sold 25,828 shares of The Carlyle Group stock on August 2nd at an average price of $32.36 per share, resulting in a total transaction value of $835,794.08. Following this sale, Buser now holds 1,221,416 shares valued at approximately $39,525,021.76.
In another transaction recorded on August 2nd, insider Bruce M. Larson sold 13,413 shares of The Carlyle Group stock at an average price of $32.36 per share amounting to a total value of $434,044.68. Larson currently owns 403,069 shares valued at around $13,043,312.84 in the company.
These transactions were legally disclosed via filings with the Securities & Exchange Commission (SEC) and can be accessed through their official website.
It is worth noting that these insider sales are part of a broader trend within The Carlyle Group as CFO Curtis L.Buser had previously sold an additional 25,828 shares at an average price of $32.36 per share, resulting in a total transaction value of $835,794.08. Following this sale, Buser’s stake in the company stands at 1,221,416 shares.
Overall, insiders have sold around 84,916 shares of The Carlyle Group stock, valued at approximately $2,747,882 in the last quarter alone. As a result of these sales and transactions by company insiders, approximately 27.00% of the stock is currently owned by them.
These developments reflect not only the confidence of key executives but also their ability to capitalize on favorable market conditions for personal gains. It is important to note that while insider trading can reveal valuable insights about a company’s performance and potential trajectory, investors should assess such information alongside other financial indicators before making investment decisions.
Investors and industry analysts will be keenly observing The Carlyle Group’s future actions and performance as it continues to navigate the complex financial landscape. By staying informed about recent transactions and earnings results, individuals can better evaluate the investment potential of this influential financial services provider.
References:
– “The Carlyle Group (NASDAQ: CG) Earnings Information” – August 23rd, 2023
– Securities & Exchange Commission (SEC) filing – accessible through SEC website
The Carlyle Group Inc.
CG
Strong Buy
Updated on: 05/12/2023
Financial Health
Very Healthy
Debt to equity ratio: Strong Buy
Price to earnings ratio: Strong Buy
Price to book ratio: Strong Buy
DCF: Strong Buy
ROE: Neutral
Downward Revision in Q3 2023 Earnings Estimates for The Carlyle Group Inc. (NASDAQ:CG) Prompts Divergent Analyst Opinions
The Carlyle Group Inc. (NASDAQ:CG), a leading financial services provider, recently experienced a downward revision in their Q3 2023 earnings estimates by investment analysts at Zacks Research. In a research report released on August 21st, Zacks Research analyst S. Jhunjhunwala now predicts that the company will post earnings of $0.63 per share for the quarter, down from their previous forecast of $0.65 per share.
Furthermore, the consensus estimate for The Carlyle Group’s full-year earnings in 2023 currently stands at $2.99 per share. Zacks Research has also provided estimates for the company’s earnings in various quarters of 2024, with projections of $0.92 EPS for Q1, $0.90 EPS for Q2, and $0.86 EPS for Q3.
Looking further ahead, Zacks Research forecasts earnings of $3.71 per share for the full year in 2024 and expects this number to increase to $4.05 EPS in 2025.
These revised estimates have had an impact on the stock’s performance and its reception within the investment community as well.
Several reports by different organizations have given their opinion on CG’s performance and outlook as well. UBS Group increased their price target from $28 to $35 but maintained a “neutral” rating on The Carlyle Group’s shares in a report released on July 19th. On August 3rd, Piper Sandler lowered their price target on shares from $42 to $40 but maintained an “overweight” rating for the stock.
In another report released on August 17th, JMP Securities reiterated a “market outperform” rating and set a price target of $52 on The Carlyle Group’s shares. Moreover, Oppenheimer reduced their target price from $60 to $58 but maintained an “outperform” rating on the stock.
Adding to the list, Deutsche Bank Aktiengesellschaft also reduced their target price from $41 to $39 in a report released on May 5th.
With varied opinions among analysts, the average rating for The Carlyle Group’s stock is currently labeled “Moderate Buy” with a consensus target price of $40.36 according to data collected from Bloomberg.com.
In related news, it was disclosed that CFO Curtis L. Buser sold 25,828 shares of The Carlyle Group’s stock. The transaction took place on August 2nd at an average price of $32.36 per share, resulting in a total value of $835,794.08. Following this transaction, Buser now owns 1,221,416 shares in the company with an estimated value of approximately $39,525,021.76.
Additionally, insider Bruce M. Larson also sold 13,413 shares on August 2nd at an average price of $32.36 per share. Following the sale transaction, Larson now directly holds 403,069 shares valued at around $13,043,312.84.
Overall company insiders have sold a total of 84,916 shares worth $2,747,882 during the last quarter and currently own approximately 27% of the stock.
On August 23rd more recently announced by the company is the decision to pay out a quarterly dividend to its shareholders. Investors who were listed as record holders on August 15th will receive a dividend payment of $0.35 per share on Wednesday.
The ex-dividend date for this payout was set as August 14th and when annualized this represents a dividend yield of about 4.81%. It is interesting to note that The Carlyle Group’s dividend payout ratio (DPR) presently stands at an unusually high rate at about 123.89%.
On Wednesday morning NASDAQ:CG opened at $29.13, with the firm’s 50-day moving average standing at $32.31 and its two-hundred-day moving average at $31.25. In terms of its trading range over the past year, The Carlyle Group’s shares have fluctuated between a low of $24.59 and a high of $38.32.
Considering market capitalization, The Carlyle Group currently values around $10.49 billion, with a price-to-earnings (P/E) ratio of 25.78 and a beta value of 1.68 indicating higher volatility than the overall market average.
In conclusion, The Carlyle Group Inc.’s Q3 2023 earnings estimates were revised down according to Zacks Research. Various reports by different financial institutions have provided their own analysis on CG’s stock performance, with divergent opinions leading to an average rating from Bloomberg.com being labeled as “Moderate Buy.” Additional insider selling activity has also been reported recently, adding to investor speculation regarding the company’s future prospects. Nevertheless, The Carlyle Group remains a significant player within the financial services industry and will continue to be closely monitored by investors in the coming months.
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