Carlyle Group (NASDAQ:CG) Given New $56.00 Price Target at Royal Bank Of Canada

Carlyle Group (NASDAQ:CG) had its price objective decreased by stock analysts at Royal Bank Of Canada from $58.00 to $56.00 in a research report issued on Monday,Benzinga reports. The firm currently has a “sector perform” rating on the financial services provider’s stock. Royal Bank Of Canada’s target price would suggest a potential upside of 26.75% from the stock’s current price.

Several other analysts also recently commented on CG. Evercore set a $56.00 price objective on shares of Carlyle Group in a research report on Tuesday, April 21st. Cfra cut shares of Carlyle Group to a “sell” rating and set a $45.00 price target on the stock. in a report on Friday, May 8th. Wall Street Zen lowered shares of Carlyle Group from a “hold” rating to a “sell” rating in a report on Saturday, May 16th. BMO Capital Markets reiterated an “outperform” rating and set a $52.00 target price on shares of Carlyle Group in a research note on Monday. Finally, Weiss Ratings upgraded Carlyle Group from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, July 6th. Seven analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $60.71.

Carlyle Group Stock Down 1.2%

Shares of NASDAQ CG traded down $0.53 on Monday, reaching $44.18. 272,922 shares of the company’s stock traded hands, compared to its average volume of 3,324,668. The business’s 50 day simple moving average is $45.33 and its two-hundred day simple moving average is $51.16. Carlyle Group has a 12 month low of $39.60 and a 12 month high of $69.85. The company has a market cap of $15.90 billion, a price-to-earnings ratio of 30.32, a price-to-earnings-growth ratio of 1.48 and a beta of 1.84. The company has a quick ratio of 2.55, a current ratio of 2.55 and a debt-to-equity ratio of 1.92.

Carlyle Group (NASDAQ:CG) last posted its quarterly earnings data on Wednesday, May 6th. The financial services provider reported $0.89 earnings per share 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 the consensus estimate of $1.01 billion. During the same period last year, the business earned $1.14 EPS. The firm’s quarterly revenue was down 28.0% on a year-over-year basis. As a group, equities research analysts forecast that Carlyle Group will post 3.89 EPS for the current fiscal year.

Hedge Funds Weigh In On Carlyle Group

Several institutional investors and hedge funds have recently bought and sold shares of CG. Handelsbanken Fonder AB grew its stake in shares of Carlyle Group by 2.2% during the 2nd quarter. Handelsbanken Fonder AB now owns 68,200 shares of the financial services provider’s stock valued at $2,872,000 after acquiring an additional 1,500 shares during the period. Hennion & Walsh Asset Management Inc. boosted its position in shares of Carlyle Group by 10.4% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 10,322 shares of the financial services provider’s stock worth $435,000 after purchasing an additional 972 shares during the period. Assenagon Asset Management S.A. purchased a new stake in shares of Carlyle Group in the second quarter worth $11,127,000. MassMutual Private Wealth & Trust FSB raised 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 purchasing an additional 258 shares during the period. Finally, Empowered Funds LLC lifted 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 valued at $735,000 after buying an additional 3,237 shares in the last quarter. 55.88% of the stock is currently owned by hedge funds and other 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.