Citizens Jmp Increases Carlyle Group (NASDAQ:CG) Price Target to $73.00

Key Points

• Citizens JMP raised Carlyle Group’s price target from $70 to $73 and maintained a “market outperform” rating, implying roughly 46% upside from the reported $49.84 share price.
• Analyst sentiment remains mixed: seven analysts rate the stock Buy, eight Hold and one Sell, producing an overall “Hold” consensus and an average price target of $59.79.
• Carlyle exceeded quarterly expectations with $1.07 in earnings per share versus $0.91 estimated and $1.11 billion in revenue, although revenue declined 28.6% year over year.

Carlyle Group (NASDAQ:CG - Get Free Report) had its price target lifted by equities research analysts at Citizens Jmp from $70.00 to $73.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has a "market outperform" rating on the financial services provider's stock. Citizens Jmp's price objective would indicate a potential upside of 46.47% from the stock's current price.

A number of other analysts have also recently issued reports on CG. Evercore set a $56.00 price objective on Carlyle Group in a research report on Tuesday, April 21st. JPMorgan Chase & Co. cut their price target on Carlyle Group from $66.00 to $63.00 and set a "neutral" rating for the company in a research note on Friday, May 8th. Cfra cut Carlyle Group to a "sell" rating and set a $45.00 price target for the company. in a research note on Friday, May 8th. Morgan Stanley set a $57.00 price objective on shares of Carlyle Group in a research report on Tuesday, July 21st. Finally, BMO Capital Markets reissued an "outperform" rating and issued a $52.00 target price on shares of Carlyle Group in a research report on Monday, July 13th. Seven equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $59.79.

Carlyle Group Price Performance

Shares of CG opened at $49.84 on Thursday. The business's 50-day moving average is $44.67 and its 200-day moving average is $49.04. 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 company has a market capitalization of $17.94 billion, a price-to-earnings ratio of 34.14, a P/E/G ratio of 1.78 and a beta of 1.83. Carlyle Group has a fifty-two week low of $39.60 and a fifty-two week high of $69.85.

Carlyle Group (NASDAQ:CG - Get Free Report) last posted 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. Carlyle Group had a net margin of 13.46% and a return on equity of 20.95%. The business had revenue of $1.11 billion during the quarter, compared to analysts' expectations of $923.50 million. During the same period last year, the company posted $0.87 earnings per share. The firm's quarterly revenue was down 28.6% compared to the same quarter last year. Equities research analysts expect that Carlyle Group will post 3.71 EPS for the current fiscal year.

Hedge Funds Weigh In On Carlyle Group

Several large investors have recently made changes to their positions in CG. WFA of San Diego LLC bought a new position in Carlyle Group in the 2nd quarter worth approximately $26,000. Main Street Group LTD acquired a new stake in shares of Carlyle Group in the first quarter worth $27,000. Geneos Wealth Management Inc. increased its position in Carlyle Group by 755.3% during the first quarter. Geneos Wealth Management Inc. now owns 650 shares of the financial services provider's stock worth $28,000 after acquiring an additional 574 shares during the period. Quarry LP acquired a new position in Carlyle Group during the 3rd quarter valued at $33,000. Finally, MassMutual Private Wealth & Trust FSB boosted its holdings in Carlyle Group by 36.6% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 962 shares of the financial services provider's stock valued at $41,000 after purchasing an additional 258 shares during the period. Institutional investors and hedge funds 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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