Keefe, Bruyette & Woods Forecasts Strong Price Appreciation for Carlyle Group (NASDAQ:CG) Stock

Carlyle Group (NASDAQ:CG) had its price objective increased by Keefe, Bruyette & Woods from $47.00 to $50.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has a “market perform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ target price would suggest a potential upside of 4.62% from the company’s current price.

CG has been the topic of several other research reports. Morgan Stanley set a $57.00 price objective on shares of Carlyle Group in a research report on Tuesday, July 21st. Royal Bank Of Canada reduced their target price on Carlyle Group from $58.00 to $56.00 and set a “sector perform” rating on the stock in a research note on Monday, July 13th. Wall Street Zen downgraded Carlyle Group from a “hold” rating to a “sell” rating in a research report on Saturday, May 16th. BMO Capital Markets reiterated an “outperform” rating and issued a $52.00 price objective on shares of Carlyle Group in a report on Monday, July 13th. Finally, JPMorgan Chase & Co. decreased their price objective on Carlyle Group from $66.00 to $63.00 and set a “neutral” rating on the stock in a report on Friday, May 8th. Seven investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $59.79.

Carlyle Group Stock Performance

NASDAQ:CG opened at $47.79 on Thursday. Carlyle Group has a twelve month low of $39.60 and a twelve month high of $69.85. The company has a quick ratio of 2.55, a current ratio of 2.35 and a debt-to-equity ratio of 1.91. The stock has a market cap of $17.20 billion, a P/E ratio of 49.78, a PEG ratio of 1.73 and a beta of 1.83. The business’s 50-day moving average price is $44.79 and its two-hundred day moving average price is $48.92.

Carlyle Group (NASDAQ:CG) last posted its quarterly earnings data on Tuesday, August 4th. The financial services provider reported $1.07 earnings per share for the quarter, topping the consensus estimate of $0.91 by $0.16. Carlyle Group had a net margin of 10.08% and a return on equity of 22.52%. The company had revenue of $1.11 billion for the quarter, compared to analysts’ expectations of $923.50 million. During the same period in the prior year, the business earned $0.87 earnings per share. Carlyle Group’s revenue for the quarter was down 28.6% compared to the same quarter last year. As a group, equities analysts predict that Carlyle Group will post 3.68 EPS for the current fiscal year.

Institutional Investors Weigh In On Carlyle Group

A number of hedge funds and other institutional investors have recently modified their holdings of CG. Buckland Partners Management Co LLC purchased a new stake in Carlyle Group during the 2nd quarter valued at about $2,291,000. BlackRock Inc. bought a new stake in Carlyle Group in the second quarter valued at approximately $1,346,848,000. Pallas Capital Advisors LLC purchased a new stake in shares of Carlyle Group during the second quarter valued at approximately $243,000. Deutsche Bank AG bought a new position in shares of Carlyle Group in the second quarter worth approximately $17,615,000. Finally, Principle Wealth Partners LLC bought a new stake in Carlyle Group during the 2nd quarter valued at $300,000. Institutional investors own 55.88% of the company’s stock.

Carlyle Group News Summary

Here are the key news stories impacting Carlyle Group this week:

• Positive Sentiment: Q2 earnings and revenue exceeded expectations. Carlyle reported adjusted earnings of $1.07 per share versus the $0.91 consensus estimate, while revenue reached $1.11 billion, above expectations of approximately $924 million. Higher assets under management and performance revenues helped results, although expenses also increased year over year. Carlyle Q2 earnings report
• Positive Sentiment: Strategic partnership expands Carlyle’s credit business. Carlyle’s Global Credit platform will provide approximately $600 million in hybrid capital to Prime Capital Financial and receive a minority ownership interest. The deal gives Carlyle exposure to Prime’s future growth and values the financial-services company at more than $1.8 billion. Prime Capital Financial partnership announcement
• Positive Sentiment: Analyst price targets increased. Citizens JMP raised its target to $73 from $70 and maintained an outperform rating. Keefe, Bruyette & Woods also lifted its target to $50 from $47, though it retained a market-perform rating.
• Positive Sentiment: Quarterly dividend maintained. Carlyle declared a $0.35-per-share dividend, payable August 26 to shareholders of record August 17, supporting the stock’s income appeal with an indicated yield of about 2.9%.
• Neutral Sentiment: Carlyle Secured Lending posted additional beats. The affiliated lending company reported non-GAAP net investment income of $0.35 per share and total investment income of $62.09 million, both above estimates, and maintained its quarterly dividend. The direct effect on Carlyle Group’s consolidated results is limited.
• Negative Sentiment: KBW remains at Hold. The reaffirmed cautious rating suggests the firm sees limited near-term upside after the recent advance. Carlyle’s elevated valuation and year-over-year revenue decline remain potential concerns, offsetting the earnings beat and growth initiatives. KBW rating update

Carlyle Group Company Profile

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.