Carlyle Group (NASDAQ:CG) Releases Quarterly Earnings Results

Carlyle Group (NASDAQ:CG) issued its quarterly earnings results on Tuesday. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.91 by $0.16, FiscalAI reports. Carlyle Group had a return on equity of 20.95% and a net margin of 13.46%.The firm had revenue of $1.11 billion during the quarter, compared to analyst estimates of $923.50 million. During the same period last year, the company earned $0.87 EPS. Carlyle Group’s quarterly revenue was down 28.6% compared to the same quarter last year.

Carlyle Group Stock Down 1.7%

CG traded down $0.85 during trading on Wednesday, hitting $49.79. The stock had a trading volume of 3,270,896 shares, compared to its average volume of 3,329,296. The stock has a 50 day simple moving average of $44.58 and a two-hundred day simple moving average of $49.16. The company has a market capitalization of $17.92 billion, a PE ratio of 34.06, a PEG ratio of 1.71 and a beta of 1.83. The company has a debt-to-equity ratio of 1.92, a quick ratio of 2.55 and a current ratio of 2.55. Carlyle Group has a twelve month low of $39.60 and a twelve month high of $69.85.

Analysts Set New Price Targets

CG has been the topic of several research analyst reports. Cfra cut Carlyle Group to a “sell” rating and set a $45.00 price objective on the stock. in a research note on Friday, May 8th. Barclays lowered their price objective on shares of Carlyle Group from $63.00 to $57.00 and set an “overweight” rating for the company in a research note on Thursday, July 9th. Morgan Stanley set a $57.00 target price on shares of Carlyle Group in a research report on Tuesday, July 21st. Wall Street Zen downgraded shares of Carlyle Group from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. Finally, Weiss Ratings raised Carlyle Group from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, July 6th. Seven equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Carlyle Group presently has a consensus rating of “Hold” and a consensus target price of $60.07.

Institutional Investors Weigh In On Carlyle Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CG. Morgan Stanley boosted its holdings in Carlyle Group by 0.8% in the fourth quarter. Morgan Stanley now owns 10,189,948 shares of the financial services provider’s stock worth $602,328,000 after acquiring an additional 84,228 shares in the last quarter. State Street Corp raised its position in shares of Carlyle Group by 20.9% in the 3rd quarter. State Street Corp now owns 9,942,135 shares of the financial services provider’s stock valued at $623,372,000 after purchasing an additional 1,720,483 shares during the last quarter. UBS Group AG grew its position in Carlyle Group by 11.2% during the 3rd quarter. UBS Group AG now owns 4,037,257 shares of the financial services provider’s stock worth $253,136,000 after purchasing an additional 407,493 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Carlyle Group by 7.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,176,369 shares of the financial services provider’s stock valued at $187,785,000 after purchasing an additional 222,508 shares in the last quarter. Finally, Ameriprise Financial Inc. lifted its stake in shares of Carlyle Group by 1.7% during the second quarter. Ameriprise Financial Inc. now owns 2,769,631 shares of the financial services provider’s stock worth $142,359,000 after buying an additional 46,894 shares during the period. 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.