TPG (NASDAQ:TPG) Issues Earnings Results, Hits Expectations

TPG (NASDAQ:TPG) posted its quarterly earnings data 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 0.69% and a return on equity of 23.57%. The business had revenue of $855.40 million during the quarter, compared to the consensus estimate of $449.98 million. During the same quarter last year, the company posted $0.56 earnings per share.

TPG Stock Down 1.5 %

Shares of NASDAQ TPG opened at $60.88 on Wednesday. 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 has a 52 week low of $28.93 and a 52 week high of $69.86. The firm’s fifty day moving average is $58.95 and its 200 day moving average is $49.39. The company has a market cap of $22.21 billion, a price-to-earnings ratio of -179.05, a PEG ratio of 0.98 and a beta of 1.49.

TPG Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Thursday, November 14th will be paid a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 2.50%. The ex-dividend date of this dividend is Thursday, November 14th. TPG’s payout ratio is -494.10%.

Analysts Set New Price Targets

TPG has been the subject of a number of research analyst reports. Wells Fargo & Company raised their price objective on shares of TPG from $67.00 to $68.00 and gave the stock an “overweight” rating in a report on Tuesday. Morgan Stanley increased their target price on shares of TPG from $55.00 to $73.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. Evercore ISI increased their target price on shares of TPG from $46.00 to $60.00 and gave the stock an “in-line” rating in a research report on Monday, October 14th. JPMorgan Chase & Co. increased their target price 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. Finally, The Goldman Sachs Group increased their target price on shares of TPG from $60.00 to $63.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. Seven equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $56.17.

About TPG

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.