These Analysts Lower Their Forecasts On Carlyle Group After Q2 Results
Portfolio Pulse from Avi Kapoor
The Carlyle Group (NASDAQ:CG) reported disappointing Q2 FY24 results, missing both EPS and revenue estimates. The company also announced the sale of Cogentrix Energy for $3 billion. Following the earnings report, several analysts lowered their price targets for Carlyle, and the stock fell 7.5% to $40.91.
August 06, 2024 | 12:05 pm
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Carlyle Group reported worse-than-expected Q2 FY24 results, missing both EPS and revenue estimates. The company also announced the sale of Cogentrix Energy for $3 billion. Following the earnings report, several analysts lowered their price targets, and the stock fell 7.5% to $40.91.
The disappointing Q2 results and subsequent analyst downgrades are likely to negatively impact Carlyle's stock in the short term. The sale of Cogentrix Energy, while significant, was overshadowed by the earnings miss.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100