The Carlyle Group (NASDAQ:CG) was upgraded by Zacks Investment Research from a "hold" rating to a "buy" rating in a research note issued on Tuesday, Zacks.com reports. The brokerage presently has a $49.00 price objective on the financial services provider's stock. Zacks Investment Research's target price suggests a potential upside of 13.69% from the company's previous close.
According to Zacks, "The Carlyle Group Inc. is an investment firm. The Company manages an investment vehicle segment which includes corporate private equity, real assets, global credit and investment solutions. The Carlyle Group Inc. is based in Washington, United States. "
Other equities research analysts have also recently issued research reports about the company. Morgan Stanley boosted their target price on The Carlyle Group from $41.00 to $44.00 and gave the company an "equal weight" rating in a research note on Tuesday. Deutsche Bank Aktiengesellschaft upped their price objective on The Carlyle Group from $37.00 to $39.00 and gave the stock a "hold" rating in a research note on Wednesday, February 24th. Credit Suisse Group upgraded The Carlyle Group from a "neutral" rating to an "outperform" rating and upped their price objective for the stock from $40.00 to $42.00 in a research note on Thursday, February 25th. Citigroup upped their price objective on The Carlyle Group from $43.50 to $49.50 in a research note on Tuesday. Finally, TheStreet upgraded The Carlyle Group from a "d+" rating to a "c" rating in a research note on Friday, February 5th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The stock presently has a consensus rating of "Buy" and an average price target of $38.33.
Shares of The Carlyle Group stock traded down $0.28 during trading on Tuesday, hitting $43.10. 1,041,789 shares of the company were exchanged, compared to its average volume of 1,490,033. The firm has a market capitalization of $15.28 billion, a P/E ratio of -70.66 and a beta of 1.38. The Carlyle Group has a 1-year low of $22.16 and a 1-year high of $43.66. The firm's fifty day moving average price is $38.60 and its 200 day moving average price is $33.22. The company has a debt-to-equity ratio of 2.98, a current ratio of 2.37 and a quick ratio of 2.37.
The Carlyle Group (NASDAQ:CG) last released its quarterly earnings data on Thursday, April 29th. The financial services provider reported $0.58 earnings per share for the quarter, beating the Thomson Reuters' consensus estimate of $0.54 by $0.04. The Carlyle Group had a positive return on equity of 25.90% and a negative net margin of 5.38%. The business had revenue of $612.50 million for the quarter, compared to analysts' expectations of $595.12 million. During the same quarter in the previous year, the business posted $0.48 EPS. The Carlyle Group's revenue for the quarter was up 5.4% on a year-over-year basis. As a group, equities research analysts anticipate that The Carlyle Group will post 1.84 earnings per share for the current year.
In other news, CEO Kewsong Lee sold 2,639 shares of the company's stock in a transaction on Monday, May 3rd. The stock was sold at an average price of $43.49, for a total transaction of $114,770.11. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director David M. Rubenstein sold 3,000,000 shares of the company's stock in a transaction on Thursday, March 11th. The shares were sold at an average price of $35.80, for a total value of $107,400,000.00. Following the sale, the director now owns 39,249,644 shares of the company's stock, valued at $1,405,137,255.20. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 3,226,363 shares of company stock valued at $115,703,069.
Institutional investors have recently bought and sold shares of the business. Commonwealth Equity Services LLC increased its stake in shares of The Carlyle Group by 241.9% in the first quarter. Commonwealth Equity Services LLC now owns 73,775 shares of the financial services provider's stock valued at $2,712,000 after buying an additional 52,194 shares during the period. Victory Capital Management Inc. increased its stake in shares of The Carlyle Group by 1,273.6% in the first quarter. Victory Capital Management Inc. now owns 422,709 shares of the financial services provider's stock valued at $15,539,000 after buying an additional 391,935 shares during the period. Raymond James Trust N.A. increased its stake in shares of The Carlyle Group by 4.3% in the first quarter. Raymond James Trust N.A. now owns 10,207 shares of the financial services provider's stock valued at $375,000 after buying an additional 420 shares during the period. IFP Advisors Inc increased its stake in shares of The Carlyle Group by 0.6% in the first quarter. IFP Advisors Inc now owns 46,992 shares of the financial services provider's stock valued at $1,727,000 after buying an additional 302 shares during the period. Finally, Tranquility Partners LLC acquired a new stake in shares of The Carlyle Group in the first quarter valued at about $515,000. Hedge funds and other institutional investors own 33.08% of the company's stock.
About The Carlyle Group
The Carlyle Group Inc is an investment firm specializing in direct and fund of fund investments. Within direct investments, it specializes in management-led/ Leveraged buyouts, privatizations, divestitures, strategic minority equity investments, structured credit, global distressed and corporate opportunities, small and middle market, equity private placements, consolidations and buildups, senior debt, mezzanine and leveraged finance, and venture and growth capital financings, seed/startup, early venture, emerging growth, turnaround, mid venture, late venture, PIPES.
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