Carlyle Group Misses Q2 Earnings Estimates, Downgraded By JPMorgan
Portfolio Pulse from Priya Nigam
Carlyle Group Inc (NASDAQ:CG) reported disappointing Q2 earnings, missing estimates with 78 cents per share versus the expected 83 cents. JPMorgan downgraded the stock from Overweight to Neutral and reduced the price target from $46 to $44, citing issues with performance fee compensation and lower investment income.
August 06, 2024 | 3:26 pm
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Carlyle Group missed Q2 earnings estimates, reporting 78 cents per share against the expected 83 cents. JPMorgan downgraded the stock from Overweight to Neutral and reduced the price target from $46 to $44 due to higher performance fee compensation and lower investment income.
The missed earnings and subsequent downgrade by JPMorgan are likely to negatively impact Carlyle Group's stock price in the short term. The reduction in the price target and the downgrade from Overweight to Neutral reflect concerns over performance fee compensation and lower investment income.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100