Citigroup Boosts The Carlyle Group (NASDAQ:CG) Price Target to $49.50

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The Carlyle Group (NASDAQ:CG) had its target price raised by investment analysts at Citigroup from $43.50 to $49.50 in a report released on Tuesday, The Fly reports. Citigroup’s target price indicates a potential upside of 15.87% from the company’s current price.

CG has been the topic of several other research reports. TheStreet upgraded The Carlyle Group from a “d+” rating to a “c” rating in a report on Friday, February 5th. Credit Suisse Group upgraded shares of The Carlyle Group from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $40.00 to $42.00 in a report on Thursday, February 25th. Zacks Investment Research raised shares of The Carlyle Group from a “sell” rating to a “hold” rating in a research note on Tuesday, January 12th. Morgan Stanley increased their target price on The Carlyle Group from $41.00 to $44.00 and gave the company an “equal weight” rating in a report on Tuesday. Finally, Keefe, Bruyette & Woods upgraded The Carlyle Group from a “market perform” rating to an “outperform” rating and set a $40.00 price target on the stock in a report on Tuesday, January 19th. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $35.59.

Shares of NASDAQ CG traded down $0.66 during midday trading on Tuesday, reaching $42.72. The company’s stock had a trading volume of 38,161 shares, compared to its average volume of 1,495,384. The company has a market cap of $15.15 billion, a price-to-earnings ratio of -70.03 and a beta of 1.38. The Carlyle Group has a one year low of $21.36 and a one year high of $43.66. The company has a current ratio of 2.37, a quick ratio of 2.37 and a debt-to-equity ratio of 2.98. The company has a 50 day moving average price of $38.60 and a 200 day moving average price of $33.22.

The Carlyle Group (NASDAQ:CG) last announced its quarterly earnings data on Thursday, April 29th. The financial services provider reported $0.58 EPS for the quarter, beating analysts’ consensus estimates of $0.54 by $0.04. The company had revenue of $612.50 million during the quarter, compared to the consensus estimate of $595.12 million. The Carlyle Group had a positive return on equity of 25.90% and a negative net margin of 5.38%. The company’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.48 EPS. Research analysts anticipate that The Carlyle Group will post 1.84 earnings per share for the current fiscal year.

In other The Carlyle Group news, Director David M. Rubenstein sold 3,000,000 shares of the firm’s stock in a transaction dated Thursday, March 11th. The stock was sold at an average price of $35.80, for a total transaction of $107,400,000.00. Following the transaction, the director now directly owns 39,249,644 shares in the company, valued at $1,405,137,255.20. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Kewsong Lee sold 140,701 shares of the company’s stock in a transaction dated Tuesday, February 9th. The stock was sold at an average price of $36.60, for a total value of $5,149,656.60. Following the sale, the chief executive officer now owns 2,959,597 shares of the company’s stock, valued at approximately $108,321,250.20. The disclosure for this sale can be found here. Insiders have sold a total of 3,226,363 shares of company stock valued at $115,703,069 over the last ninety days.

Hedge funds have recently made changes to their positions in the business. Crescent Capital Consulting LLC bought a new position in shares of The Carlyle Group in the fourth quarter valued at approximately $31,000. Evolution Wealth Advisors LLC lifted its position in The Carlyle Group by 37.7% during the 1st quarter. Evolution Wealth Advisors LLC now owns 1,005 shares of the financial services provider’s stock worth $37,000 after acquiring an additional 275 shares during the last quarter. Arkadios Wealth Advisors bought a new stake in The Carlyle Group during the first quarter valued at about $38,000. Strs Ohio acquired a new stake in shares of The Carlyle Group in the fourth quarter valued at about $50,000. Finally, Concord Wealth Partners acquired a new position in shares of The Carlyle Group during the 4th quarter worth about $63,000. Institutional investors own 33.08% of the company’s stock.

About The Carlyle Group

The Carlyle Group Inc 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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