Zacks Investment Research upgraded shares of The Carlyle Group (NASDAQ:CG) from a hold rating to a buy rating in a report published on Monday, Zacks.com reports. Zacks Investment Research currently has $29.00 target price on the financial services provider’s stock.
According to Zacks, “The Carlyle Group is a global alternative asset manager. The Company invests across four segments: Corporate Private Equity, Real Assets, Global Market Strategies and Fund of Funds Solutions in Africa, Asia, Australia, Europe, the Middle East, North America and South America. Its Corporate Private Equity segment advises the Company’s buyout and growth capital funds. The Real Assets segment advises the Company’s United States and internationally-focused real estate and infrastructure funds, energy and renewable resources funds. Its Global Market Strategies segment advises a group of funds that pursue investment opportunities across various types of credit, equities and alternative instruments and currencies, commodities and interest rate products and their derivatives. Its Fund of Funds Solutions segment advises a global private equity fund of funds program and related co-investment and secondary activities. The Carlyle Group is based in Washington, District of Columbia. “
A number of other brokerages have also commented on CG. Credit Suisse Group raised shares of The Carlyle Group to an outperform rating and raised their target price for the stock from $11.50 to $14.00 in a research report on Friday, August 16th. BMO Capital Markets began coverage on shares of The Carlyle Group in a research report on Monday, October 7th. They set a market perform rating and a $23.00 target price on the stock. BidaskClub raised shares of The Carlyle Group from a buy rating to a strong-buy rating in a research report on Wednesday, September 18th. Oppenheimer set a $33.00 target price on shares of The Carlyle Group and gave the stock a buy rating in a research report on Tuesday, October 8th. Finally, Bank of America raised their target price on shares of The Carlyle Group from $25.00 to $29.00 and gave the stock a neutral rating in a research report on Monday, September 23rd. Nine investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. The Carlyle Group has a consensus rating of Buy and a consensus target price of $20.07.
Shares of NASDAQ:CG opened at $25.81 on Monday. The company has a current ratio of 2.72, a quick ratio of 2.72 and a debt-to-equity ratio of 1.96. The Carlyle Group has a 12 month low of $15.09 and a 12 month high of $27.01. The company has a 50-day moving average price of $24.85 and a 200 day moving average price of $22.34. The company has a market cap of $2.85 billion, a price-to-earnings ratio of 9.81 and a beta of 1.69.
The Carlyle Group (NASDAQ:CG) last announced its quarterly earnings results on Wednesday, July 31st. The financial services provider reported $0.57 EPS for the quarter, beating the Zacks’ consensus estimate of $0.36 by $0.21. The firm had revenue of $550.70 million during the quarter, compared to the consensus estimate of $496.69 million. The Carlyle Group had a net margin of 12.74% and a return on equity of 6.07%. The firm’s revenue for the quarter was up 19.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.69 EPS. As a group, equities analysts forecast that The Carlyle Group will post 1.66 EPS for the current year.
In other The Carlyle Group news, COO Christopher Finn sold 55,138 shares of The Carlyle Group stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $22.85, for a total value of $1,259,903.30. Following the completion of the transaction, the chief operating officer now owns 310,968 shares of the company’s stock, valued at $7,105,618.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Carlyle Group Management L.L.C sold 800,000 shares of The Carlyle Group stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $110.74, for a total transaction of $88,592,000.00. The disclosure for this sale can be found here. Insiders have sold 1,004,829 shares of company stock valued at $93,349,143 over the last quarter.
Several hedge funds have recently added to or reduced their stakes in CG. Artemis Investment Management LLP grew its stake in The Carlyle Group by 20.4% during the 3rd quarter. Artemis Investment Management LLP now owns 2,247,512 shares of the financial services provider’s stock valued at $57,148,000 after acquiring an additional 381,231 shares in the last quarter. LGT Capital Partners LTD. lifted its holdings in shares of The Carlyle Group by 20.0% in the 3rd quarter. LGT Capital Partners LTD. now owns 510,000 shares of the financial services provider’s stock worth $13,036,000 after acquiring an additional 85,000 shares during the last quarter. North Star Investment Management Corp. lifted its holdings in shares of The Carlyle Group by 36.9% in the 3rd quarter. North Star Investment Management Corp. now owns 18,072 shares of the financial services provider’s stock worth $462,000 after acquiring an additional 4,872 shares during the last quarter. Colony Group LLC lifted its holdings in shares of The Carlyle Group by 12.2% in the 2nd quarter. Colony Group LLC now owns 35,125 shares of the financial services provider’s stock worth $794,000 after acquiring an additional 3,811 shares during the last quarter. Finally, McGowan Group Asset Management Inc. lifted its holdings in shares of The Carlyle Group by 1.2% in the 2nd quarter. McGowan Group Asset Management Inc. now owns 374,799 shares of the financial services provider’s stock worth $8,474,000 after acquiring an additional 4,304 shares during the last quarter. 44.36% of the stock is owned by institutional investors and hedge funds.
The Carlyle Group Company Profile
The Carlyle Group L.P. 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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