Carlyle Group (NASDAQ:CG) Stock Price Expected to Rise, Citizens Jmp Analyst Says

Carlyle Group (NASDAQ:CG) had its price target boosted by equities researchers at Citizens Jmp from $70.00 to $73.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has a “market outperform” rating on the financial services provider’s stock. Citizens Jmp’s target price indicates a potential upside of 52.75% from the stock’s current price.

Several other research firms have also issued reports on CG. BMO Capital Markets reiterated an “outperform” rating and set a $52.00 target price on shares of Carlyle Group in a report on Monday, July 13th. Barclays boosted their price target on Carlyle Group from $57.00 to $64.00 and gave the stock an “overweight” rating in a research report on Thursday. Evercore set a $56.00 target price on shares of Carlyle Group in a research note on Tuesday, April 21st. JPMorgan Chase & Co. lowered their target price on shares of Carlyle Group from $66.00 to $63.00 and set a “neutral” rating on the stock in a report on Friday, May 8th. Finally, Morgan Stanley set a $57.00 price target on shares of Carlyle Group in a research note on Tuesday, July 21st. Seven investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $59.79.

Carlyle Group Stock Down 2.2%

Carlyle Group stock opened at $47.79 on Thursday. The company has a current ratio of 2.35, a quick ratio of 2.55 and a debt-to-equity ratio of 1.91. Carlyle Group has a 1-year low of $39.60 and a 1-year high of $69.85. The company has a fifty day simple moving average of $44.79 and a 200 day simple moving average of $48.92. The company has a market cap of $17.20 billion, a P/E ratio of 49.78, a price-to-earnings-growth ratio of 1.73 and a beta of 1.83.

Carlyle Group (NASDAQ:CG) last issued its quarterly earnings results on Tuesday, August 4th. The financial services provider reported $1.07 EPS for the quarter, topping the consensus estimate of $0.91 by $0.16. The firm had revenue of $1.11 billion for the quarter, compared to analysts’ expectations of $923.50 million. Carlyle Group had a net margin of 10.08% and a return on equity of 22.52%. The company’s revenue for the quarter was down 28.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.87 EPS. Research analysts anticipate that Carlyle Group will post 3.68 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new stake in shares of Carlyle Group during the second quarter worth $1,346,848,000. Vanguard Group Inc. grew its stake in shares of Carlyle Group by 3.7% in the fourth quarter. Vanguard Group Inc. now owns 26,368,246 shares of the financial services provider’s stock valued at $1,558,627,000 after acquiring an additional 934,237 shares in the last quarter. Morgan Stanley raised its stake in Carlyle Group by 0.8% in the 4th quarter. Morgan Stanley now owns 10,189,948 shares of the financial services provider’s stock worth $602,328,000 after purchasing an additional 84,228 shares in the last quarter. State Street Corp boosted its holdings in Carlyle Group by 20.9% in the 3rd quarter. State Street Corp now owns 9,942,135 shares of the financial services provider’s stock valued at $623,372,000 after purchasing an additional 1,720,483 shares during the period. Finally, Massachusetts Financial Services Co. MA grew its position in shares of Carlyle Group by 1.5% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 7,735,298 shares of the financial services provider’s stock worth $457,233,000 after purchasing an additional 117,223 shares in the last quarter. 55.88% of the stock is owned by institutional investors and hedge funds.

Carlyle Group News Roundup

Here are the key news stories impacting Carlyle Group this week:

• Positive Sentiment: Q2 earnings and revenue exceeded expectations. Carlyle reported adjusted earnings of $1.07 per share versus the $0.91 consensus estimate, while revenue reached $1.11 billion, above expectations of approximately $924 million. Higher assets under management and performance revenues helped results, although expenses also increased year over year. Carlyle Q2 earnings report
• Positive Sentiment: Strategic partnership expands Carlyle’s credit business. Carlyle’s Global Credit platform will provide approximately $600 million in hybrid capital to Prime Capital Financial and receive a minority ownership interest. The deal gives Carlyle exposure to Prime’s future growth and values the financial-services company at more than $1.8 billion. Prime Capital Financial partnership announcement
• Positive Sentiment: Analyst price targets increased. Citizens JMP raised its target to $73 from $70 and maintained an outperform rating. Keefe, Bruyette & Woods also lifted its target to $50 from $47, though it retained a market-perform rating.
• Positive Sentiment: Quarterly dividend maintained. Carlyle declared a $0.35-per-share dividend, payable August 26 to shareholders of record August 17, supporting the stock’s income appeal with an indicated yield of about 2.9%.
• Neutral Sentiment: Carlyle Secured Lending posted additional beats. The affiliated lending company reported non-GAAP net investment income of $0.35 per share and total investment income of $62.09 million, both above estimates, and maintained its quarterly dividend. The direct effect on Carlyle Group’s consolidated results is limited.
• Negative Sentiment: KBW remains at Hold. The reaffirmed cautious rating suggests the firm sees limited near-term upside after the recent advance. Carlyle’s elevated valuation and year-over-year revenue decline remain potential concerns, offsetting the earnings beat and growth initiatives. KBW rating update

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.