Wall Street Zen Upgrades Carlyle Group (NASDAQ:CG) to “Hold”

Carlyle Group (NASDAQ:CG) was upgraded by equities research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a note issued to investors on Saturday.

A number of other analysts have also issued reports on CG. TD Cowen reissued a “hold” rating on shares of Carlyle Group in a research report on Thursday, August 6th. Royal Bank Of Canada dropped their target price on Carlyle Group from $58.00 to $56.00 and set a “sector perform” rating for the company in a research report on Monday, July 13th. JPMorgan Chase & Co. cut 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. Barclays raised their price objective on shares of Carlyle Group from $57.00 to $64.00 and gave the company an “overweight” rating in a research note on Thursday, August 6th. Finally, Weiss Ratings upgraded shares of Carlyle Group from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, August 11th. Seven equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $59.31.

Carlyle Group Stock Performance

Shares of CG stock opened at $49.09 on Friday. Carlyle Group has a 1-year low of $39.60 and a 1-year high of $69.85. The firm has a market cap of $17.49 billion, a PE ratio of 51.14, a price-to-earnings-growth ratio of 1.50 and a beta of 1.82. The company has a 50-day moving average of $46.06 and a two-hundred day moving average of $47.64. The company has a debt-to-equity ratio of 1.91, a current ratio of 2.35 and a quick ratio of 2.35.

Carlyle Group (NASDAQ:CG) last released its quarterly earnings results on Tuesday, August 4th. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.91 by $0.16. The business had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $923.50 million. Carlyle Group had a net margin of 10.08% and a return on equity of 22.52%. The business’s revenue was down 28.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.87 EPS. On average, analysts predict that Carlyle Group will post 3.69 EPS for the current year.

Hedge Funds Weigh In On Carlyle Group

Several hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. acquired a new stake in shares of Carlyle Group in the second quarter valued at approximately $1,346,848,000. California State Teachers Retirement System lifted its stake in Carlyle Group by 3,902.5% in the 2nd quarter. California State Teachers Retirement System now owns 12,772,595 shares of the financial services provider’s stock valued at $537,854,000 after buying an additional 12,453,476 shares in the last quarter. William Blair Investment Management LLC purchased a new position in Carlyle Group during the second quarter worth $249,077,000. Norges Bank purchased a new stake in shares of Carlyle Group in the fourth quarter valued at $288,257,000. Finally, Legal & General Group Plc purchased a new stake in Carlyle Group during the 2nd quarter worth about $162,984,000. 55.88% of the stock is currently owned by hedge funds and other institutional investors.

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.