Barclays Cuts Carlyle Group (NASDAQ:CG) Price Target to $57.00

Carlyle Group (NASDAQ:CG) had its price objective reduced by equities researchers at Barclays from $63.00 to $57.00 in a note issued to investors on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the financial services provider’s stock. Barclays‘s target price points to a potential upside of 30.11% from the company’s previous close.

Several other equities analysts have also commented on CG. TD Cowen dropped their target price on Carlyle Group from $53.00 to $50.00 and set a “hold” rating on the stock in a report on Monday, May 18th. Evercore set a $56.00 price objective on Carlyle Group in a research report on Tuesday, April 21st. Cfra downgraded Carlyle Group to a “sell” rating and set a $45.00 price objective on the stock. in a report on Friday, May 8th. BMO Capital Markets decreased their target price on Carlyle Group from $65.00 to $58.00 and set an “outperform” rating for the company in a research note on Tuesday, March 24th. Finally, JPMorgan Chase & Co. dropped their price target on shares of Carlyle Group from $66.00 to $63.00 and set a “neutral” rating on the stock in a research note on Friday, May 8th. Seven equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Carlyle Group currently has an average rating of “Hold” and a consensus price target of $61.27.

Carlyle Group Stock Down 0.5%

Shares of Carlyle Group stock opened at $43.81 on Thursday. The company has a quick ratio of 2.55, a current ratio of 2.55 and a debt-to-equity ratio of 1.92. Carlyle Group has a 52-week low of $39.60 and a 52-week high of $69.85. The company has a market capitalization of $15.77 billion, a P/E ratio of 29.87, a P/E/G ratio of 1.53 and a beta of 1.84. The company has a 50 day moving average of $45.47 and a 200 day moving average of $51.39.

Carlyle Group (NASDAQ:CG) last announced its quarterly earnings data on Wednesday, May 6th. The financial services provider reported $0.89 EPS for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.02). The firm had revenue of $750.90 million during the quarter, compared to analysts’ expectations of $1.01 billion. Carlyle Group had a net margin of 13.46% and a return on equity of 20.95%. The company’s revenue for the quarter was down 28.0% on a year-over-year basis. During the same period in the prior year, the company posted $1.14 earnings per share. As a group, research analysts forecast that Carlyle Group will post 3.98 EPS for the current fiscal year.

Institutional Investors Weigh In On Carlyle Group

Several large investors have recently modified their holdings of the company. Hennion & Walsh Asset Management Inc. grew its position in shares of Carlyle Group by 10.4% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 10,322 shares of the financial services provider’s stock worth $435,000 after acquiring an additional 972 shares during the last quarter. Assenagon Asset Management S.A. acquired a new stake in Carlyle Group during the 2nd quarter worth $11,127,000. MassMutual Private Wealth & Trust FSB grew its position in Carlyle Group by 36.6% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 962 shares of the financial services provider’s stock worth $41,000 after purchasing an additional 258 shares during the last quarter. Empowered Funds LLC increased its stake in Carlyle Group by 27.1% in the first quarter. Empowered Funds LLC now owns 15,199 shares of the financial services provider’s stock valued at $735,000 after purchasing an additional 3,237 shares during the period. Finally, NewEdge Advisors LLC raised its holdings in shares of Carlyle Group by 40.0% in the first quarter. NewEdge Advisors LLC now owns 23,290 shares of the financial services provider’s stock valued at $1,127,000 after buying an additional 6,658 shares during the last quarter. 55.88% of the stock is owned by institutional investors and hedge funds.

Carlyle Group Company Profile

The Carlyle Group (NASDAQ: CG) is a global alternative asset manager that invests across a range of strategies including private equity, real assets (such as real estate and infrastructure), global credit, and investment solutions. Founded in 1987 and headquartered in Washington, DC, Carlyle raises and manages investment funds that acquire, operate and exit companies and assets on behalf of institutional and private investors. The firm is publicly traded on the Nasdaq exchange and operates as an asset manager and investment advisor rather than as an operating company.

Carlyle’s core activities include sourcing and executing private equity buyouts and growth investments, originating and managing credit and financing solutions, and acquiring and operating real asset portfolios.