Carlyle Group (NASDAQ:CG) Rating Increased to Hold at Wall Street Zen

Key Points

• Wall Street Zen upgraded Carlyle Group from “sell” to “hold,” while the broader analyst consensus remains “hold” with a $59.31 price target.
• Carlyle reported quarterly EPS of $1.07, beating estimates of $0.91, and revenue of $1.11 billion; however, revenue declined 28.6% year over year.
• The stock opened at $49.09, with a market capitalization of $17.49 billion, while institutional investors own approximately 55.88% of outstanding shares.

Carlyle Group (NASDAQ:CG - Get Free Report) was upgraded by equities researchers at Wall Street Zen from a "sell" rating to a "hold" rating in a note issued to investors on Saturday.

Other analysts also recently issued research reports about the stock. Citigroup restated an "outperform" rating on shares of Carlyle Group in a report on Thursday, August 6th. Citizens Jmp upped their price objective on Carlyle Group from $70.00 to $73.00 and gave the company a "market outperform" rating in a report on Thursday, August 6th. Barclays raised their target price on Carlyle Group from $57.00 to $64.00 and gave the stock an "overweight" rating in a research note on Thursday, August 6th. Keefe, Bruyette & Woods lifted their target price on Carlyle Group from $47.00 to $50.00 and gave the company a "market perform" rating in a research report on Thursday, August 6th. Finally, Royal Bank Of Canada cut their price objective 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. Seven investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $59.31.

Carlyle Group Stock Down 0.3%

NASDAQ CG opened at $49.09 on Friday. The business's fifty day simple moving average is $46.06 and its 200-day simple moving average is $47.72. The company has a quick ratio of 2.35, a current ratio of 2.35 and a debt-to-equity ratio of 1.91. The firm has a market cap of $17.49 billion, a PE ratio of 51.14, a P/E/G ratio of 1.51 and a beta of 1.83. Carlyle Group has a 52 week low of $39.60 and a 52 week high of $69.85.

Carlyle Group (NASDAQ:CG - Get Free Report) last announced its quarterly earnings data 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. Carlyle Group had a net margin of 10.08% and a return on equity of 22.52%. The firm had revenue of $1.11 billion during the quarter, compared to analyst estimates of $923.50 million. During the same quarter in the prior year, the firm posted $0.87 earnings per share. Carlyle Group's quarterly revenue was down 28.6% on a year-over-year basis. As a group, equities analysts anticipate that Carlyle Group will post 3.69 earnings per share for the current year.

Institutional Investors Weigh In On Carlyle Group

Several institutional investors and hedge funds have recently modified their holdings of the company. WFA of San Diego LLC purchased a new position in Carlyle Group during the 2nd quarter valued at about $26,000. Quarry LP purchased a new stake in Carlyle Group during the third quarter worth about $33,000. Main Street Group LTD acquired a new stake in shares of Carlyle Group during the first quarter worth about $27,000. Brown Brothers Harriman & Co. acquired a new position in shares of Carlyle Group in the third quarter valued at approximately $41,000. Finally, Geneos Wealth Management Inc. increased its stake in Carlyle Group by 755.3% during the 1st quarter. Geneos Wealth Management Inc. now owns 650 shares of the financial services provider's stock worth $28,000 after buying an additional 574 shares during the period. Hedge funds and other institutional investors own 55.88% of the company's stock.

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.

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