Royal Bank Of Canada Lowers Carlyle Group (NASDAQ:CG) Price Target to $56.00

Key Points

• Royal Bank of Canada cut its price target on Carlyle Group from $58 to $56 while keeping a “sector perform” rating, implying about 26.75% upside from the prior close.
• Other analysts were also mixed: Barclays and TD Cowen lowered targets, while BMO Capital Markets reaffirmed an “outperform” rating. Overall, Carlyle has a consensus Hold rating and an average price target of $60.71.
• Carlyle shares were trading at $44.18, near the low end of their 52-week range, and the company recently reported weaker-than-expected earnings and revenue for the quarter, with revenue down 28% year over year.

Carlyle Group (NASDAQ:CG - Get Free Report) had its price target reduced by research analysts at Royal Bank Of Canada from $58.00 to $56.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage currently has a "sector perform" rating on the financial services provider's stock. Royal Bank Of Canada's price objective indicates a potential upside of 26.75% from the stock's previous close.

A number of other analysts also recently issued reports on CG. Barclays dropped their price target on Carlyle Group from $63.00 to $57.00 and set an "overweight" rating for the company in a research report on Thursday. TD Cowen lowered their target price on shares of Carlyle Group from $53.00 to $50.00 and set a "hold" rating on the stock in a research note on Monday, May 18th. BMO Capital Markets reissued an "outperform" rating and issued a $52.00 price target on shares of Carlyle Group in a research note on Monday. JPMorgan Chase & Co. decreased their price target on shares of Carlyle Group from $66.00 to $63.00 and set a "neutral" rating on the stock in a report on Friday, May 8th. Finally, Weiss Ratings raised shares of Carlyle Group from a "sell (d+)" rating to a "hold (c-)" rating in a report on Monday, July 6th. Seven research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $60.71.

Carlyle Group Price Performance

Shares of CG traded down $0.53 during mid-day trading on Monday, reaching $44.18. 272,922 shares of the stock traded hands, compared to its average volume of 3,324,668. The company has a market cap of $15.90 billion, a price-to-earnings ratio of 30.32, a price-to-earnings-growth ratio of 1.48 and a beta of 1.84. Carlyle Group has a 1 year low of $39.60 and a 1 year high of $69.85. The firm has a fifty day moving average price of $45.33 and a 200 day moving average price of $51.16. 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 (NASDAQ:CG - Get Free Report) last issued its quarterly earnings data on Wednesday, May 6th. The financial services provider reported $0.89 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.91 by ($0.02). The business had revenue of $750.90 million during the quarter, compared to analysts' expectations of $1.01 billion. Carlyle Group had a return on equity of 20.95% and a net margin of 13.46%.The company's quarterly revenue was down 28.0% on a year-over-year basis. During the same quarter last year, the business posted $1.14 EPS. As a group, equities research analysts predict that Carlyle Group will post 3.89 earnings per share for the current year.

Hedge Funds Weigh In On Carlyle Group

Hedge funds have recently modified their holdings of the company. AQR Capital Management LLC lifted its holdings in Carlyle Group by 937.5% in the first quarter. AQR Capital Management LLC now owns 57,335 shares of the financial services provider's stock worth $2,499,000 after buying an additional 51,809 shares during the period. Goldman Sachs Group Inc. grew its holdings in shares of Carlyle Group by 40.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,144,974 shares of the financial services provider's stock worth $49,909,000 after acquiring an additional 332,533 shares during the period. Empowered Funds LLC lifted its stake in shares of Carlyle Group by 3.4% in the 1st quarter. Empowered Funds LLC now owns 48,237 shares of the financial services provider's stock valued at $2,103,000 after purchasing an additional 1,579 shares during the period. Focus Partners Wealth boosted its position in shares of Carlyle Group by 27.4% during the first quarter. Focus Partners Wealth now owns 5,434 shares of the financial services provider's stock valued at $237,000 after purchasing an additional 1,169 shares in the last quarter. Finally, Geneos Wealth Management Inc. grew its stake in Carlyle Group by 755.3% in the first quarter. Geneos Wealth Management Inc. now owns 650 shares of the financial services provider's stock worth $28,000 after purchasing 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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