TD Securities Downgrades The Carlyle Group (NASDAQ:CG) to Hold

The Carlyle Group (NASDAQ:CG) was downgraded by investment analysts at TD Securities to a “hold” rating in a report issued on Tuesday, Stock Target Advisor reports. They currently have a $17.00 target price on the financial services provider’s stock, up from their previous target price of $15.50. TD Securities’ price target indicates a potential downside of 38.27% from the company’s current price.

A number of other research analysts have also weighed in on CG. Morgan Stanley cut their target price on shares of The Carlyle Group from $25.00 to $23.00 and set an “equal weight” rating for the company in a report on Monday, May 4th. ValuEngine upgraded The Carlyle Group from a “sell” rating to a “hold” rating in a research report on Monday, June 1st. Bank of America downgraded The Carlyle Group from a “neutral” rating to an “underperform” rating and lowered their price target for the stock from $24.00 to $17.00 in a research report on Monday, March 23rd. CIBC upgraded The Carlyle Group to an “outperformer” rating and raised their price target for the stock from $14.00 to $17.00 in a research report on Monday, June 8th. Finally, Cfra lowered their price target on The Carlyle Group from $29.00 to $25.00 and set a “hold” rating for the company in a research report on Friday, May 1st. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $27.13.

CG traded up $0.25 during trading on Tuesday, reaching $27.54. 19,989 shares of the company traded hands, compared to its average volume of 4,003,426. The company has a debt-to-equity ratio of 3.22, a quick ratio of 2.72 and a current ratio of 2.72. The Carlyle Group has a 12-month low of $15.21 and a 12-month high of $34.98. The firm has a fifty day simple moving average of $27.74 and a 200 day simple moving average of $27.74. The company has a market cap of $9.51 billion, a P/E ratio of -459.00 and a beta of 1.67.

The Carlyle Group (NASDAQ:CG) last announced its quarterly earnings data on Thursday, April 30th. The financial services provider reported $0.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.39 by $0.09. The Carlyle Group had a negative net margin of 13.26% and a positive return on equity of 13.74%. The business had revenue of ($745.70) million during the quarter, compared to analyst estimates of $523.32 million. During the same period last year, the firm posted $1.18 EPS. The company’s revenue was down 168.6% on a year-over-year basis. As a group, sell-side analysts expect that The Carlyle Group will post 1.49 earnings per share for the current fiscal year.

In other The Carlyle Group news, major shareholder Carlyle Group Management L.L.C sold 2,000,000 shares of The Carlyle Group stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $124.56, for a total value of $249,120,000.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

Hedge funds have recently modified their holdings of the company. Ameritas Investment Company LLC purchased a new stake in shares of The Carlyle Group during the first quarter worth about $32,000. Cordasco Financial Network purchased a new stake in shares of The Carlyle Group during the first quarter worth about $50,000. BDO Wealth Advisors LLC purchased a new stake in shares of The Carlyle Group during the first quarter worth about $55,000. Highlander Capital Management LLC grew its stake in shares of The Carlyle Group by 21.7% during the first quarter. Highlander Capital Management LLC now owns 2,800 shares of the financial services provider’s stock worth $61,000 after acquiring an additional 500 shares during the last quarter. Finally, Sandy Spring Bank grew its stake in shares of The Carlyle Group by 37.6% during the first quarter. Sandy Spring Bank now owns 3,660 shares of the financial services provider’s stock worth $80,000 after acquiring an additional 1,000 shares during the last quarter. Institutional investors and hedge funds own 23.59% 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.

Featured Article: Does the Dogs of the Dow strategy work?

Stock Target Advisor

Analyst Recommendations for The Carlyle Group (NASDAQ:CG)

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.