Carlyle Group (NASDAQ:CG) Price Target Cut to $57.00 by Analysts at Barclays

Key Points

• Barclays cut Carlyle Group’s price target from $63 to $57 while keeping an overweight rating, implying about 30.11% upside from the current share price.
• Other analysts are mixed on the stock: recent actions include target cuts and rating downgrades from firms like Goldman Sachs, BMO Capital Markets, and Cfra, while the overall consensus remains Hold with an average target price of $61.27.
• Carlyle Group recently reported missed quarterly earnings, posting $0.89 EPS versus $0.91 expected and revenue of $750.9 million versus $1.01 billion expected, with revenue down 28% year over year.

Carlyle Group (NASDAQ:CG - Get Free Report) had its price objective cut by analysts at Barclays from $63.00 to $57.00 in a research report issued on Thursday,Benzinga reports. The brokerage currently has an "overweight" rating on the financial services provider's stock. Barclays's price objective would indicate a potential upside of 30.11% from the stock's current price.

Other equities analysts have also issued research reports about the company. The Goldman Sachs Group decreased their price target on Carlyle Group from $81.00 to $69.00 and set a "buy" rating on the stock in a research note on Tuesday, April 7th. Wall Street Zen lowered shares of Carlyle Group from a "hold" rating to a "sell" rating in a report on Saturday, May 16th. BMO Capital Markets decreased their target price on shares of Carlyle Group from $65.00 to $58.00 and set an "outperform" rating on the stock in a research report on Tuesday, March 24th. Cfra cut shares of Carlyle Group to a "sell" rating and set a $45.00 price target for the company. in a research report on Friday, May 8th. Finally, Weiss Ratings upgraded shares of Carlyle Group from a "sell (d+)" rating to a "hold (c-)" rating in a report on Monday. Seven research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $61.27.

Carlyle Group Stock Performance

NASDAQ:CG opened at $43.81 on Thursday. The company's 50-day moving average is $45.47 and its two-hundred day moving average is $51.39. Carlyle Group has a 1-year low of $39.60 and a 1-year high of $69.85. The company has a debt-to-equity ratio of 1.92, a current ratio of 2.55 and a quick ratio of 2.55. The firm has a market capitalization of $15.77 billion, a price-to-earnings ratio of 29.87, a PEG ratio of 1.53 and a beta of 1.84.

Carlyle Group (NASDAQ:CG - Get Free Report) last released its quarterly earnings results on Wednesday, May 6th. The financial services provider reported $0.89 EPS for the quarter, missing the consensus estimate of $0.91 by ($0.02). The firm had revenue of $750.90 million for 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 firm's quarterly revenue was down 28.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.14 EPS. Analysts forecast that Carlyle Group will post 3.98 EPS for the current year.

Institutional Inflows and Outflows

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

About Carlyle Group

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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