The Carlyle Group (CG) Rating Reiterated by Canaccord Genuity

Canaccord Genuity reissued their buy rating on shares of The Carlyle Group (NASDAQ:CG) in a research note published on Wednesday. The firm currently has a $7.50 price target on the financial services provider’s stock.

CG has been the subject of a number of other research reports. Oppenheimer set a $35.00 price target on The Carlyle Group and gave the stock a buy rating in a research report on Wednesday, August 1st. Citigroup upped their price target on The Carlyle Group from $29.00 to $32.00 and gave the stock a buy rating in a research report on Thursday, August 2nd. ValuEngine cut The Carlyle Group from a hold rating to a sell rating in a research report on Friday, August 3rd. BidaskClub cut The Carlyle Group from a buy rating to a hold rating in a research report on Tuesday, August 7th. Finally, Morgan Stanley upped their price target 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. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the stock. The company presently has a consensus rating of Hold and a consensus target price of $26.05.

The Carlyle Group stock opened at $18.31 on Wednesday. The firm has a market cap of $1.97 billion, a P/E ratio of 7.57 and a beta of 1.65. The company has a debt-to-equity ratio of 2.35, a current ratio of 0.68 and a quick ratio of 0.61. The Carlyle Group has a one year low of $16.82 and a one year high of $25.90.

The Carlyle Group (NASDAQ:CG) last posted its quarterly earnings data on Wednesday, October 31st. The financial services provider reported $0.25 EPS for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.24). The firm had revenue of $679.10 million for the quarter, compared to analysts’ expectations of $660.04 million. The Carlyle Group had a net margin of 5.47% and a return on equity of 26.30%. The firm’s revenue was up 6.1% compared to the same quarter last year. During the same quarter last year, the company posted $0.56 EPS. As a group, research analysts anticipate that The Carlyle Group will post 1.9 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 20th. Investors of record on Tuesday, November 13th were given a dividend of $0.42 per share. The ex-dividend date was Friday, November 9th. This represents a $1.68 annualized dividend and a dividend yield of 9.18%. This is a boost from The Carlyle Group’s previous quarterly dividend of $0.22. The Carlyle Group’s dividend payout ratio (DPR) is currently 48.41%.

In other The Carlyle Group news, Director Janet Hill bought 5,000 shares of the business’s stock in a transaction that occurred on Monday, November 5th. The stock was purchased at an average price of $20.19 per share, for a total transaction of $100,950.00. Following the completion of the transaction, the director now 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 Securities & Exchange Commission, which is accessible through the SEC website.

Several large investors have recently added to or reduced their stakes in the stock. Belpointe Asset Management LLC purchased a new stake in shares of The Carlyle Group during the third quarter worth about $101,000. Morgan Stanley grew its position in shares of The Carlyle Group by 8.2% during the third quarter. Morgan Stanley now owns 8,131,576 shares of the financial services provider’s stock worth $183,368,000 after purchasing an additional 619,635 shares in the last quarter. Legal & General Group Plc grew its position in shares of The Carlyle Group by 3.6% during the third quarter. Legal & General Group Plc now owns 399,146 shares of the financial services provider’s stock worth $9,011,000 after purchasing an additional 13,692 shares in the last quarter. Alpine Global Management LLC purchased a new stake in shares of The Carlyle Group during the third quarter worth about $258,000. Finally, Jane Street Group LLC purchased a new stake in shares of The Carlyle Group during the third quarter worth about $7,795,000. Hedge funds and other institutional investors own 38.99% 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.

Further Reading: Understanding Price to Earnings Ratio (PE)

Analyst Recommendations for The Carlyle Group (NASDAQ:CG)

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