Citizens Jmp Cuts Carlyle Group (NASDAQ:CG) Price Target to $70.00

Key Points

• Citizens JMP lowered its price target on Carlyle Group from $75 to $70 while keeping an "market outperform" rating, implying about 59.78% upside from the prior close.
• Analyst sentiment is mixed overall: the stock has an average "Hold" rating and an average price target of $61.27, with several firms recently cutting targets or downgrading the shares.
• Carlyle’s recent results missed expectations, with quarterly EPS of $0.89 versus $0.91 expected and revenue of $750.9 million versus $1.01 billion forecast, though the company still posted a 20.95% return on equity.

Carlyle Group (NASDAQ:CG - Get Free Report) had its price objective decreased by Citizens Jmp from $75.00 to $70.00 in a research report issued on Thursday,Benzinga reports. The brokerage currently has a "market outperform" rating on the financial services provider's stock. Citizens Jmp's price objective suggests a potential upside of 59.78% from the stock's previous close.

A number of other research firms have also commented on CG. Weiss Ratings raised shares of Carlyle Group from a "sell (d+)" rating to a "hold (c-)" rating in a report on Monday. Wall Street Zen lowered Carlyle Group from a "hold" rating to a "sell" rating in a research report on Saturday, May 16th. JPMorgan Chase & Co. dropped their price objective on Carlyle Group from $66.00 to $63.00 and set a "neutral" rating for the company in a report on Friday, May 8th. TD Cowen reduced 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. Finally, 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 report on Tuesday, March 24th. Seven investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $61.27.

Carlyle Group Stock Performance

Shares of NASDAQ:CG opened at $43.81 on Thursday. The company has a current ratio of 2.55, a quick ratio of 2.55 and a debt-to-equity ratio of 1.92. Carlyle Group has a 1-year low of $39.60 and a 1-year high of $69.85. The stock 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 business has a 50-day moving average price of $45.47 and a two-hundred day moving average price of $51.39.

Carlyle Group (NASDAQ:CG - Get Free Report) last issued its earnings results on Wednesday, May 6th. The financial services provider reported $0.89 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.91 by ($0.02). The business had revenue of $750.90 million during the quarter, compared to the consensus estimate of $1.01 billion. Carlyle Group had a net margin of 13.46% and a return on equity of 20.95%. The firm's revenue for the quarter was down 28.0% compared to the same quarter last year. During the same period last year, the business posted $1.14 EPS. Equities analysts predict that Carlyle Group will post 3.98 earnings per share for the current year.

Hedge Funds Weigh In On Carlyle Group

Several hedge funds have recently made changes to their positions in CG. WFA of San Diego LLC bought a new position in shares of Carlyle Group in the 2nd quarter valued at about $26,000. Main Street Group LTD bought a new stake in shares of Carlyle Group during the 1st quarter worth about $27,000. Geneos Wealth Management Inc. grew its position in shares of Carlyle Group by 755.3% in the first quarter. Geneos Wealth Management Inc. now owns 650 shares of the financial services provider's stock valued at $28,000 after purchasing an additional 574 shares during the last quarter. Bernard Wealth Management Corp. bought a new position in Carlyle Group during the 4th quarter worth $30,000. Finally, Quarry LP acquired a new stake in Carlyle Group in the 3rd quarter worth about $33,000. 55.88% of the stock is owned by 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.

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