TPG (NASDAQ:TPG) Issues Earnings Results

TPG (NASDAQ:TPG) posted its quarterly earnings results on Monday. The company reported $0.45 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.45, Briefing.com reports. The company had revenue of $855.40 million during the quarter, compared to the consensus estimate of $449.98 million. TPG had a net margin of 0.69% and a return on equity of 23.57%. During the same period last year, the firm earned $0.56 EPS.

TPG Price Performance

TPG opened at $67.79 on Thursday. TPG has a 1 year low of $29.63 and a 1 year high of $69.86. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.25 and a current ratio of 0.25. The company’s 50 day simple moving average is $59.31 and its 200 day simple moving average is $49.52. The stock has a market capitalization of $24.73 billion, a PE ratio of -199.38, a P/E/G ratio of 0.98 and a beta of 1.49.

TPG Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Thursday, November 14th will be issued a dividend of $0.38 per share. The ex-dividend date is Thursday, November 14th. This represents a $1.52 annualized dividend and a dividend yield of 2.24%. TPG’s payout ratio is currently -494.10%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on TPG. BMO Capital Markets lifted their price objective on TPG from $45.00 to $60.00 and gave the stock a “market perform” rating in a report on Tuesday. Wells Fargo & Company lifted their price target on TPG from $67.00 to $68.00 and gave the stock an “overweight” rating in a research note on Tuesday. Deutsche Bank Aktiengesellschaft increased their price objective on shares of TPG from $65.00 to $67.00 and gave the company a “buy” rating in a research note on Tuesday. The Goldman Sachs Group lifted 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. Finally, TD Cowen lowered their price target on shares of TPG from $62.00 to $58.00 and set a “hold” rating on the stock in a research report on Wednesday. Seven equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, TPG presently has an average rating of “Hold” and a consensus target price of $57.50.

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.