The Carlyle Group (NASDAQ:CG) Reaches New 12-Month High on Analyst Upgrade
The Carlyle Group Inc. (NASDAQ:CG) shares hit a new 52-week high during trading on Tuesday after Morgan Stanley raised their price target on the stock from $41.00 to $44.00. Morgan Stanley currently has an equal weight rating on the stock. The Carlyle Group traded as high as $43.70 and last traded at $42.46, with a volume of 21146 shares changing hands. The stock had previously closed at $43.38.
A number of other equities analysts have also weighed in on CG. Deutsche Bank Aktiengesellschaft boosted their price objective on The Carlyle Group from $37.00 to $39.00 and gave the stock a “hold” rating in a research note on Wednesday, February 24th. Barclays upped their target price on The Carlyle Group from $36.00 to $39.00 in a research report on Wednesday, February 24th. TheStreet raised The Carlyle Group from a “d+” rating to a “c” rating in a research note on Friday, February 5th. Citigroup upped their price objective on The Carlyle Group from $38.00 to $43.50 in a research note on Monday, February 8th. Finally, Keefe, Bruyette & Woods raised The Carlyle Group from a “market perform” rating to an “outperform” rating and set a $40.00 target price for the company in a research note on Tuesday, January 19th. Four analysts have rated the stock with a hold rating and five have given a buy rating to the company. The Carlyle Group currently has an average rating of “Buy” and an average target price of $35.05.
In other The Carlyle Group news, COO Christopher Finn sold 35,572 shares of the firm’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 $1,301,935.20. Following the transaction, the chief operating officer now directly owns 843,752 shares of the company’s stock, valued at $30,881,323.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director David M. Rubenstein sold 3,000,000 shares of the firm’s stock in a transaction dated Thursday, March 11th. The shares were sold at an average price of $35.80, for a total value of $107,400,000.00. Following the completion of the transaction, the director now directly owns 39,249,644 shares in the company, valued at $1,405,137,255.20. The disclosure for this sale can be found here. Insiders have sold 3,226,363 shares of company stock worth $115,703,069 in the last 90 days.
The company has a quick ratio of 2.37, a current 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 firm has a market capitalization of $15.04 billion, a price-to-earnings ratio of -71.11 and a beta of 1.38.
The Carlyle Group (NASDAQ:CG) last posted its quarterly earnings results on Thursday, April 29th. The financial services provider reported $0.58 EPS for the quarter, beating the consensus estimate of $0.54 by $0.04. The Carlyle Group had a negative net margin of 5.38% and a positive return on equity of 25.90%. The business had revenue of $612.50 million for the quarter, compared to analysts’ expectations of $595.12 million. During the same period in the previous year, the company posted $0.48 EPS. The Carlyle Group’s revenue was up 5.4% on a year-over-year basis. As a group, analysts forecast that The Carlyle Group Inc. will post 1.84 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 19th. Investors of record on Tuesday, May 11th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.36%. The ex-dividend date is Monday, May 10th. The Carlyle Group’s dividend payout ratio is presently 58.82%.
About The Carlyle Group (NASDAQ:CG)
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.
Read More: Why do company’s buyback their stock?
Receive News & Ratings for The Carlyle Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for The Carlyle Group and related companies with MarketBeat.com's FREE daily email newsletter.