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

Carlyle Group (NASDAQ:CG) had its target price dropped by equities researchers at Barclays from $63.00 to $57.00 in a note issued to investors on Thursday, Marketbeat.com reports. The brokerage presently has an “overweight” rating on the financial services provider’s stock. Barclays‘s price objective would suggest a potential upside of 27.49% from the stock’s previous close.

A number of other equities research analysts also recently commented on the stock. Evercore set a $56.00 target price on shares of Carlyle Group in a research report on Tuesday, April 21st. Morgan Stanley lowered their target price on Carlyle Group from $71.00 to $66.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 21st. The Goldman Sachs Group cut their price target on Carlyle Group from $81.00 to $69.00 and set a “buy” rating for the company in a research note on Tuesday, April 7th. BMO Capital Markets cut their target price on shares of Carlyle Group from $65.00 to $58.00 and set an “outperform” rating for the company in a research report on Tuesday, March 24th. Finally, TD Cowen decreased their price target on shares of Carlyle Group from $53.00 to $50.00 and set a “hold” rating on the stock in a research report on Monday, May 18th. Seven equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Carlyle Group has a consensus rating of “Hold” and an average price target of $61.29.

Carlyle Group Price Performance

Shares of NASDAQ:CG opened at $44.71 on Thursday. The company has a debt-to-equity ratio of 1.92, a quick ratio of 2.55 and a current ratio of 2.55. The firm has a market cap of $16.09 billion, a price-to-earnings ratio of 30.62, a price-to-earnings-growth ratio of 1.55 and a beta of 1.84. The business has a 50-day simple moving average of $45.33 and a two-hundred day simple moving average of $51.23. Carlyle Group has a fifty-two week low of $39.60 and a fifty-two week high of $69.85.

Carlyle Group (NASDAQ:CG) last announced its quarterly earnings results on Wednesday, May 6th. The financial services provider reported $0.89 EPS for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.02). The company had revenue of $750.90 million during the quarter, compared to the consensus estimate of $1.01 billion. Carlyle Group had a return on equity of 20.95% and a net margin of 13.46%.The business’s revenue was down 28.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.14 earnings per share. On average, analysts expect that Carlyle Group will post 3.95 earnings per share for the current year.

Hedge Funds Weigh In On Carlyle Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. DMC Group LLC boosted its position in shares of Carlyle Group by 2.5% during the 4th quarter. DMC Group LLC now owns 6,762 shares of the financial services provider’s stock valued at $400,000 after acquiring an additional 168 shares during the last quarter. Allworth Financial LP boosted its holdings in shares of Carlyle Group by 32.3% in the 4th quarter. Allworth Financial LP now owns 721 shares of the financial services provider’s stock worth $43,000 after purchasing an additional 176 shares during the period. Kestra Advisory Services LLC increased its position in shares of Carlyle Group by 1.2% during the 4th quarter. Kestra Advisory Services LLC now owns 15,637 shares of the financial services provider’s stock valued at $924,000 after purchasing an additional 184 shares during the last quarter. Larson Financial Group LLC raised its holdings in Carlyle Group by 6.0% during the 3rd quarter. Larson Financial Group LLC now owns 3,483 shares of the financial services provider’s stock valued at $218,000 after buying an additional 196 shares during the period. Finally, Robertson Stephens Wealth Management LLC lifted its position in Carlyle Group by 3.1% in the fourth quarter. Robertson Stephens Wealth Management LLC now owns 6,595 shares of the financial services provider’s stock worth $390,000 after buying an additional 199 shares during the last quarter. 55.88% of the stock is owned by institutional investors.

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.