Zacks Investment Research Lowers The Carlyle Group (CG) to Strong Sell
Zacks Investment Research lowered shares of The Carlyle Group (NASDAQ:CG) from a hold rating to a strong sell rating in a research report released on Tuesday.
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 equities research analysts have also weighed in on CG. BidaskClub upgraded shares of The Carlyle Group from a strong sell rating to a sell rating in a research note on Friday, November 23rd. ValuEngine downgraded shares of The Carlyle Group from a sell rating to a strong sell rating in a research report on Tuesday, October 2nd. JPMorgan Chase & Co. upped their target price on shares of The Carlyle Group from $27.00 to $28.00 and gave the stock an overweight rating in a report on Friday, November 2nd. Morgan Stanley downgraded shares of The Carlyle Group from an overweight rating to an equal weight rating and set a $23.00 price objective for the company. in a report on Wednesday, November 14th. Finally, Deutsche Bank dropped their price objective on shares of The Carlyle Group from $23.00 to $21.00 and set a hold rating for the company in a report on Friday, November 16th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and eight have given a buy rating to the company. The company has a consensus rating of Hold and a consensus price target of $24.35.
The Carlyle Group (NASDAQ:CG) last announced its quarterly earnings data on Wednesday, October 31st. The financial services provider reported $0.25 earnings per share for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.24). The Carlyle Group had a return on equity of 26.30% and a net margin of 5.47%. The firm had revenue of $679.10 million during the quarter, compared to analysts’ expectations of $660.04 million. During the same quarter in the previous year, the firm earned $0.56 earnings per share. The Carlyle Group’s revenue was up 6.1% on a year-over-year basis. As a group, equities analysts expect that The Carlyle Group will post 1.68 earnings per share for the current fiscal year.
In related news, Director Janet Hill purchased 5,000 shares of the business’s stock in a transaction dated Monday, November 5th. The stock was acquired at an average price of $20.19 per share, for a total transaction of $100,950.00. Following the acquisition, the director now directly owns 41,680 shares of the company’s stock, valued at approximately $841,519.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.
Large investors have recently bought and sold shares of the business. Belpointe Asset Management LLC bought a new position in shares of The Carlyle Group during the 3rd quarter worth approximately $101,000. Tuttle Tactical Management bought a new stake in shares of The Carlyle Group during the 2nd quarter valued at about $107,000. Westbourne Investment Advisors Inc. bought a new stake in shares of The Carlyle Group during the 3rd quarter valued at about $113,000. North Star Investment Management Corp. raised its stake in The Carlyle Group by 80.9% during the 4th quarter. North Star Investment Management Corp. now owns 12,300 shares of the financial services provider’s stock worth $194,000 after buying an additional 5,500 shares during the period. Finally, Cornerstone Wealth Management LLC acquired a new position in The Carlyle Group during the 3rd quarter worth approximately $200,000. Hedge funds and other institutional investors own 41.66% of the company’s stock.
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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