The Carlyle Group (NASDAQ:CG) had its price objective lifted by JPMorgan Chase & Co. from $27.00 to $28.00 in a research report report published on Friday. JPMorgan Chase & Co. currently has an overweight rating on the financial services provider’s stock.
CG has been the subject of several other research reports. Oppenheimer set a $35.00 target price on The Carlyle Group and gave the stock a buy rating in a research report on Sunday, September 9th. Morgan Stanley raised their target price on The Carlyle Group from $30.00 to $31.00 and gave the stock an overweight rating in a research report on Tuesday, August 14th. Deutsche Bank decreased their target price on The Carlyle Group from $26.00 to $24.00 and set a hold rating for the company in a research report on Thursday, October 11th. ValuEngine cut The Carlyle Group from a hold rating to a sell rating in a research report on Friday, August 3rd. Finally, BidaskClub cut The Carlyle Group from a sell rating to a strong sell rating in a research report on Tuesday, October 9th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and eight have issued a buy rating to the company’s stock. The stock has an average rating of Buy and a consensus target price of $29.00.
Shares of The Carlyle Group stock traded down $0.61 during midday trading on Friday, hitting $20.26. The company’s stock had a trading volume of 525,831 shares, compared to its average volume of 772,120. The stock has a market cap of $2.06 billion, a PE ratio of 8.37 and a beta of 1.65. The company has a quick ratio of 0.59, a current ratio of 0.68 and a debt-to-equity ratio of 2.35. The Carlyle Group has a 1-year low of $18.06 and a 1-year high of $25.90.
The Carlyle Group (NASDAQ:CG) last issued its earnings results on Wednesday, October 31st. The financial services provider reported $0.25 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.49 by ($0.24). The business had revenue of $679.10 million during the quarter, compared to analyst estimates of $660.04 million. The Carlyle Group had a return on equity of 26.30% and a net margin of 5.47%. The business’s quarterly revenue was up 6.1% on a year-over-year basis. During the same period last year, the business earned $0.56 EPS. Analysts expect that The Carlyle Group will post 2.08 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 20th. Investors of record on Tuesday, November 13th will be given a dividend of $0.42 per share. This is a boost from The Carlyle Group’s previous quarterly dividend of $0.22. The ex-dividend date is Friday, November 9th. This represents a $1.68 dividend on an annualized basis and a yield of 8.29%. The Carlyle Group’s dividend payout ratio (DPR) is presently 25.36%.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BNP Paribas Arbitrage SA boosted its position in The Carlyle Group by 43.0% during the second quarter. BNP Paribas Arbitrage SA now owns 15,950 shares of the financial services provider’s stock valued at $340,000 after purchasing an additional 4,799 shares during the last quarter. Tuttle Tactical Management acquired a new stake in The Carlyle Group during the second quarter valued at $107,000. Bramshill Investments LLC boosted its position in The Carlyle Group by 30.5% during the second quarter. Bramshill Investments LLC now owns 200,574 shares of the financial services provider’s stock valued at $4,272,000 after purchasing an additional 46,909 shares during the last quarter. Legal & General Group Plc boosted its position in The Carlyle Group by 6.6% during the second quarter. Legal & General Group Plc now owns 385,454 shares of the financial services provider’s stock valued at $8,201,000 after purchasing an additional 23,766 shares during the last quarter. Finally, Natixis acquired a new stake in The Carlyle Group during the second quarter valued at $2,995,000. 40.45% of the stock is owned by hedge funds and other institutional investors.
About The Carlyle Group
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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