The Carlyle Group (CG) Stock Rating Reaffirmed by Royal Bank of Canada

Royal Bank of Canada restated their average rating on shares of The Carlyle Group (NASDAQ:CG) in a research note published on Wednesday morning. The firm currently has a $7.00 target price on the financial services provider’s stock.

Other equities analysts have also recently issued research reports about the stock. Oppenheimer set a $35.00 price objective on shares of The Carlyle Group and gave the stock a buy rating in a research note on Sunday, September 9th. Canaccord Genuity reiterated a buy rating and issued a $7.50 price objective on shares of The Carlyle Group in a research note on Wednesday, November 28th. Morgan Stanley cut shares of The Carlyle Group from an overweight rating to an equal weight rating and set a $23.00 price objective on the stock. in a research note on Wednesday, November 14th. Deutsche Bank lowered their price objective on shares of The Carlyle Group from $26.00 to $24.00 and set a hold rating on the stock in a research note on Thursday, October 11th. Finally, Zacks Investment Research cut shares of The Carlyle Group from a buy rating to a hold rating in a research note on Thursday, October 11th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and eight have issued a buy rating to the company. The Carlyle Group currently has an average rating of Hold and a consensus price target of $24.46.

Shares of NASDAQ:CG opened at $16.28 on Wednesday. The Carlyle Group has a twelve month low of $16.28 and a twelve month high of $25.90. The company has a current ratio of 0.68, a quick ratio of 0.61 and a debt-to-equity ratio of 2.35. The company has a market capitalization of $1.75 billion, a PE ratio of 4.69 and a beta of 1.62.

The Carlyle Group (NASDAQ:CG) last issued its quarterly earnings data on Wednesday, October 31st. The financial services provider reported $0.25 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate 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 business had revenue of $679.10 million during the quarter, compared to the consensus estimate of $660.04 million. During the same quarter last year, the company earned $0.56 EPS. The Carlyle Group’s revenue for the quarter was up 6.1% on a year-over-year basis. As a group, analysts expect that The Carlyle Group will post 1.94 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, November 20th. Shareholders of record on Tuesday, November 13th were paid 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 was Friday, November 9th. This represents a $1.68 dividend on an annualized basis and a yield of 10.32%. The Carlyle Group’s dividend payout ratio (DPR) is presently 48.41%.

In other news, Director Janet Hill bought 5,000 shares of the firm’s stock in a transaction on Monday, November 5th. The shares were bought at an average price of $20.19 per share, for a total transaction of $100,950.00. Following the purchase, the director now owns 41,680 shares in the company, valued at $841,519.20. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Marshall Wace LLP bought a new stake in The Carlyle Group during the 3rd quarter worth approximately $18,366,000. Belpointe Asset Management LLC bought a new stake in The Carlyle Group during the 3rd quarter worth approximately $101,000. Morgan Stanley raised its stake in The Carlyle Group by 8.2% during the 3rd quarter. Morgan Stanley now owns 8,131,576 shares of the financial services provider’s stock worth $183,368,000 after acquiring an additional 619,635 shares during the period. Legal & General Group Plc raised its stake in The Carlyle Group by 3.6% during the 3rd quarter. Legal & General Group Plc now owns 399,146 shares of the financial services provider’s stock worth $9,011,000 after acquiring an additional 13,692 shares during the period. Finally, Alpine Global Management LLC bought a new stake in The Carlyle Group during the 3rd quarter worth approximately $258,000. Institutional investors own 42.71% of the company’s stock.

The Carlyle Group Company Profile

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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Analyst Recommendations for The Carlyle Group (NASDAQ:CG)

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