Citizens Jmp Issues Pessimistic Forecast for Carlyle Group (NASDAQ:CG) Stock Price

Carlyle Group (NASDAQ:CG) had its price target dropped by Citizens Jmp from $75.00 to $70.00 in a report issued on Thursday,Benzinga reports. The firm currently has a “market outperform” rating on the financial services provider’s stock. Citizens Jmp’s target price would suggest a potential upside of 59.78% from the company’s previous close.

A number of other equities research analysts have also commented on the stock. TD Cowen reduced their price objective 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. Royal Bank Of Canada cut Carlyle Group from an “outperform” rating to a “sector perform” rating and set a $58.00 target price on the stock. in a report on Monday, May 11th. Morgan Stanley decreased their price objective on Carlyle Group from $71.00 to $66.00 and set an “equal weight” rating for the company in a report on Tuesday, April 21st. The Goldman Sachs Group lowered their target price on shares of Carlyle Group from $81.00 to $69.00 and set a “buy” rating for the company in a report on Tuesday, April 7th. Finally, Evercore set a $56.00 price target on shares of Carlyle Group in a report on Tuesday, April 21st. Seven analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $61.27.

Carlyle Group Stock Performance

Shares of CG stock opened at $43.81 on Thursday. The business’s 50-day moving average price is $45.47 and its 200-day moving average price is $51.39. 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 has a 12 month low of $39.60 and a 12 month high of $69.85. The firm has a market capitalization of $15.77 billion, a price-to-earnings ratio of 29.87, a PEG ratio of 1.53 and a beta of 1.84.

Carlyle Group (NASDAQ:CG) last announced its quarterly earnings results on Wednesday, May 6th. The financial services provider reported $0.89 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.91 by ($0.02). Carlyle Group had a net margin of 13.46% and a return on equity of 20.95%. The business had revenue of $750.90 million during the quarter, compared to analyst estimates of $1.01 billion. During the same quarter last year, the company posted $1.14 earnings per share. The company’s revenue was down 28.0% compared to the same quarter last year. Equities research analysts forecast that Carlyle Group will post 3.98 EPS for the current year.

Hedge Funds Weigh In On Carlyle Group

Several institutional investors have recently added to or reduced their stakes in the stock. Hennion & Walsh Asset Management Inc. increased its holdings in Carlyle Group by 10.4% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 10,322 shares of the financial services provider’s stock worth $435,000 after buying an additional 972 shares during the last quarter. Assenagon Asset Management S.A. purchased a new position in Carlyle Group in the second quarter valued at about $11,127,000. MassMutual Private Wealth & Trust FSB grew its position in shares of Carlyle Group by 36.6% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 962 shares of the financial services provider’s stock valued at $41,000 after acquiring an additional 258 shares during the period. Empowered Funds LLC increased its stake in shares of Carlyle Group by 27.1% during the 1st quarter. Empowered Funds LLC now owns 15,199 shares of the financial services provider’s stock worth $735,000 after purchasing an additional 3,237 shares during the last quarter. Finally, NewEdge Advisors LLC raised its holdings in shares of Carlyle Group by 40.0% in the 1st quarter. NewEdge Advisors LLC now owns 23,290 shares of the financial services provider’s stock worth $1,127,000 after purchasing an additional 6,658 shares during the period. Institutional investors own 55.88% of the company’s stock.

About Carlyle Group

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.