TD Cowen Has Lowered Expectations for Carlyle Group (NASDAQ:CG) Stock Price

Key Points

• TD Cowen cut Carlyle Group’s price target from $53 to $50 while keeping a hold rating, implying only modest upside from the current share price.
• Other analysts have also turned more cautious, with multiple firms lowering targets; the overall consensus on Carlyle now sits at Hold with an average target price of $62.
• Carlyle’s recent results disappointed, as it reported EPS of $0.89 versus estimates of $0.91 and revenue of $750.9 million versus the expected $1.01 billion, while the stock traded at $47.22 on Monday.

Carlyle Group (NASDAQ:CG - Get Free Report) had its target price lowered by equities research analysts at TD Cowen from $53.00 to $50.00 in a report issued on Monday,Benzinga reports. The firm presently has a "hold" rating on the financial services provider's stock. TD Cowen's price target suggests a potential upside of 5.89% from the stock's current price.

Several other equities research analysts have also commented on the stock. The Goldman Sachs Group decreased their price objective on shares of Carlyle Group from $81.00 to $69.00 and set a "buy" rating on the stock in a research report on Tuesday, April 7th. JPMorgan Chase & Co. decreased their price objective on shares of Carlyle Group from $66.00 to $63.00 and set a "neutral" rating on the stock in a research report on Friday, May 8th. Evercore set a $56.00 price objective on shares of Carlyle Group in a research report on Tuesday, April 21st. UBS Group decreased their price objective on shares of Carlyle Group from $81.00 to $65.00 and set a "buy" rating on the stock in a research report on Friday, February 20th. Finally, Wall Street Zen downgraded Carlyle Group from a "hold" rating to a "sell" rating in a research report on Saturday. Seven equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Carlyle Group has an average rating of "Hold" and an average target price of $62.00.

Carlyle Group Price Performance

Shares of CG stock traded down $0.80 during midday trading on Monday, reaching $47.22. 1,859,315 shares of the company traded hands, compared to its average volume of 3,242,643. The firm's 50 day simple moving average is $48.63 and its two-hundred day simple moving average is $54.20. Carlyle Group has a 1-year low of $43.19 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 cap of $17.00 billion, a PE ratio of 32.39, a price-to-earnings-growth ratio of 1.63 and a beta of 1.89.

Carlyle Group (NASDAQ:CG - Get Free Report) last posted its quarterly earnings results 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). Carlyle Group had a net margin of 13.46% and a return on equity of 20.95%. The company had revenue of $750.90 million for the quarter, compared to analyst estimates of $1.01 billion. During the same quarter in the previous year, the business posted $1.14 earnings per share. Carlyle Group's revenue was down 28.0% on a year-over-year basis. On average, equities research analysts expect that Carlyle Group will post 4.04 EPS for the current fiscal year.

Insiders Place Their Bets

In other Carlyle Group news, Director David M. Rubenstein sold 500,000 shares of the business's stock in a transaction on Thursday, March 19th. The stock was sold at an average price of $46.68, for a total value of $23,340,000.00. Following the completion of the transaction, the director directly owned 27,399,644 shares in the company, valued at approximately $1,279,015,381.92. The trade was a 1.79% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 26.30% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of CG. AQR Capital Management LLC lifted its holdings in shares of Carlyle Group by 937.5% during the 1st quarter. AQR Capital Management LLC now owns 57,335 shares of the financial services provider's stock worth $2,499,000 after acquiring an additional 51,809 shares during the period. Goldman Sachs Group Inc. lifted 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 holdings in shares of Carlyle Group by 3.4% during the 1st quarter. Empowered Funds LLC now owns 48,237 shares of the financial services provider's stock worth $2,103,000 after acquiring an additional 1,579 shares during the period. Focus Partners Wealth lifted its holdings in shares of Carlyle Group by 27.4% during the 1st quarter. Focus Partners Wealth now owns 5,434 shares of the financial services provider's stock worth $237,000 after acquiring an additional 1,169 shares during the period. Finally, Geneos Wealth Management Inc. lifted its holdings in shares of Carlyle Group by 755.3% during the 1st 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. 55.88% of the stock is currently owned by institutional investors and hedge funds.

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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