Wells Fargo & Company Forecasts Strong Price Appreciation for The Carlyle Group (NASDAQ:CG) Stock

The Carlyle Group (NASDAQ:CG - Get Free Report) had its price objective upped by research analysts at Wells Fargo & Company from $45.00 to $49.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage presently has an "equal weight" rating on the financial services provider's stock. Wells Fargo & Company's price target indicates a potential upside of 10.71% from the stock's previous close.

A number of other analysts have also weighed in on CG. Wall Street Zen lowered The Carlyle Group from a "hold" rating to a "sell" rating in a research note on Thursday, February 20th. Keefe, Bruyette & Woods lifted their target price on shares of The Carlyle Group from $43.00 to $45.00 and gave the stock a "market perform" rating in a research note on Monday, May 12th. TD Cowen raised The Carlyle Group from a "hold" rating to a "buy" rating and set a $56.00 price objective on the stock in a report on Wednesday, May 14th. Bank of America cut their price target on The Carlyle Group from $47.00 to $46.00 and set an "underperform" rating on the stock in a research report on Friday, April 4th. Finally, Citigroup cut their target price on shares of The Carlyle Group from $55.00 to $39.00 and set a "neutral" rating for the company in a report on Tuesday, April 8th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, The Carlyle Group currently has an average rating of "Hold" and an average price target of $53.00.

The Carlyle Group Price Performance

Shares of NASDAQ:CG traded down $0.17 during midday trading on Friday, reaching $44.26. 1,059,069 shares of the company were exchanged, compared to its average volume of 2,640,225. The company has a current ratio of 2.32, a quick ratio of 2.32 and a debt-to-equity ratio of 1.42. The stock has a market cap of $15.98 billion, a PE ratio of 15.92, a price-to-earnings-growth ratio of 0.98 and a beta of 1.85. The Carlyle Group has a one year low of $33.02 and a one year high of $57.50. The business's fifty day moving average is $41.02 and its two-hundred day moving average is $47.75.

The Carlyle Group (NASDAQ:CG - Get Free Report) last released its quarterly earnings results on Friday, May 9th. The financial services provider reported $1.14 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.97 by $0.17. The Carlyle Group had a net margin of 18.81% and a return on equity of 24.02%. The company had revenue of $973.10 million for the quarter, compared to the consensus estimate of $972.27 million. During the same quarter in the prior year, the firm earned $1.01 earnings per share. The Carlyle Group's revenue was up 2.0% on a year-over-year basis. As a group, analysts predict that The Carlyle Group will post 4.48 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of CG. B. Metzler seel. Sohn & Co. AG boosted its position in shares of The Carlyle Group by 3.5% during the 1st quarter. B. Metzler seel. Sohn & Co. AG now owns 6,365 shares of the financial services provider's stock valued at $277,000 after acquiring an additional 215 shares during the last quarter. Arizona State Retirement System boosted its holdings in The Carlyle Group by 0.3% in the 4th quarter. Arizona State Retirement System now owns 67,239 shares of the financial services provider's stock valued at $3,395,000 after purchasing an additional 220 shares during the last quarter. Deroy & Devereaux Private Investment Counsel Inc. grew its stake in shares of The Carlyle Group by 0.3% in the 4th quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 80,820 shares of the financial services provider's stock valued at $4,081,000 after buying an additional 225 shares during the period. Aviva PLC increased its holdings in shares of The Carlyle Group by 1.3% during the 4th quarter. Aviva PLC now owns 17,408 shares of the financial services provider's stock worth $879,000 after buying an additional 227 shares during the last quarter. Finally, Brooklyn Investment Group grew its position in The Carlyle Group by 28.6% in the first quarter. Brooklyn Investment Group now owns 1,062 shares of the financial services provider's stock worth $46,000 after acquiring an additional 236 shares during the period. 55.88% of the stock is owned by hedge funds and other institutional investors.

The Carlyle Group Company Profile

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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