The Carlyle Group (NASDAQ:CG) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday. The firm presently has a $24.00 price objective on the financial services provider’s stock. Zacks Investment Research‘s price objective would indicate a potential upside of 7.38% from the company’s previous close.
According to Zacks, “The Carlyle Group is a global alternative asset manager. The Company invests across four segments: Corporate Private Equity, Real Assets, Global Market Strategies and Fund of Funds Solutions in Africa, Asia, Australia, Europe, the Middle East, North America and South America. Its Corporate Private Equity segment advises the Company’s buyout and growth capital funds. The Real Assets segment advises the Company’s United States and internationally-focused real estate and infrastructure funds, energy and renewable resources funds. Its Global Market Strategies segment advises a group of funds that pursue investment opportunities across various types of credit, equities and alternative instruments and currencies, commodities and interest rate products and their derivatives. Its Fund of Funds Solutions segment advises a global private equity fund of funds program and related co-investment and secondary activities. The Carlyle Group is based in Washington, District of Columbia. “
Get The Carlyle Group alerts:Other analysts have also issued research reports about the company. BidaskClub lowered The Carlyle Group from a “sell” rating to a “strong sell” rating in a report on Monday, April 30th. Citigroup upped their target price on The Carlyle Group from $28.50 to $29.00 and gave the company a “buy” rating in a report on Wednesday, May 2nd. TheStreet lowered The Carlyle Group from a “b” rating to a “c” rating in a report on Tuesday, May 1st. Morgan Stanley lowered their target price on The Carlyle Group from $34.00 to $31.00 and set a “buy” rating on the stock in a report on Tuesday, April 10th. Finally, ValuEngine lowered The Carlyle Group from a “buy” rating to a “hold” rating in a report on Monday, April 2nd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $28.10.
The Carlyle Group traded up $0.60, reaching $22.35, on Tuesday, Marketbeat reports. 651,928 shares of the company’s stock were exchanged, compared to its average volume of 457,757. The Carlyle Group has a twelve month low of $18.85 and a twelve month high of $25.90. The firm has a market capitalization of $2.16 billion, a PE ratio of 6.44 and a beta of 1.76. The company has a debt-to-equity ratio of 2.32, a current ratio of 0.86 and a quick ratio of 0.71.
The Carlyle Group (NASDAQ:CG) last announced its quarterly earnings data on Tuesday, May 1st. The financial services provider reported $0.47 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.31 by $0.16. The Carlyle Group had a return on equity of 41.26% and a net margin of 6.16%. The firm had revenue of $702.80 million for the quarter, compared to analyst estimates of $563.57 million. During the same quarter in the prior year, the company posted $1.09 earnings per share. The Carlyle Group’s quarterly revenue was down 37.3% on a year-over-year basis. equities research analysts expect that The Carlyle Group will post 2.32 earnings per share for the current fiscal year.
In related news, CAO Pamela L. Bentley sold 9,396 shares of the stock in a transaction on Wednesday, May 2nd. The stock was sold at an average price of $20.10, for a total transaction of $188,859.60. Following the sale, the chief accounting officer now owns 150,764 shares of the company’s stock, valued at $3,030,356.40. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.
Several institutional investors and hedge funds have recently bought and sold shares of the stock. Deutsche Bank AG lifted its position in The Carlyle Group by 41.5% during the fourth quarter. Deutsche Bank AG now owns 2,106,437 shares of the financial services provider’s stock worth $48,237,000 after buying an additional 617,512 shares during the period. Alkeon Capital Management LLC lifted its position in The Carlyle Group by 165.3% during the first quarter. Alkeon Capital Management LLC now owns 2,006,228 shares of the financial services provider’s stock worth $42,833,000 after buying an additional 1,250,000 shares during the period. Renaissance Technologies LLC lifted its position in The Carlyle Group by 34.3% during the fourth quarter. Renaissance Technologies LLC now owns 1,576,775 shares of the financial services provider’s stock worth $36,108,000 after buying an additional 402,475 shares during the period. JPMorgan Chase & Co. lifted its position in The Carlyle Group by 108.5% during the first quarter. JPMorgan Chase & Co. now owns 1,504,658 shares of the financial services provider’s stock worth $32,124,000 after buying an additional 782,961 shares during the period. Finally, Partners Group Holding AG lifted its position in The Carlyle Group by 31.3% during the first quarter. Partners Group Holding AG now owns 1,312,667 shares of the financial services provider’s stock worth $28,025,000 after buying an additional 312,596 shares during the period. 41.82% of the stock is currently owned by institutional investors and hedge funds.
The Carlyle Group Company Profile
The Carlyle Group LP is an investment firm specializing in direct and fund of fund investments in Fintech sector. 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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