These Analysts Lower Their Forecasts On Carlyle Group After Q2 Results

The Carlyle Group CG reported worse-than-expected second-quarter financial results on Monday.

Carlyle reported that in the second quarter of FY24, the adjusted EPS of $0.78 missed the consensus of $0.83, and Total Segment revenues of $788.0 million missed the consensus of $827.5 million.

The company inked a deal to sell Cogentrix Energy to Quantum Capital Group and its affiliates for around $3 billion. The Cogentrix platform includes 5.3 gigawatts of efficient natural gas-fired power plants across PJM, ERCOT, and ISO-NE, enhancing the reliability, resilience, and affordability of the U.S. electricity market.

Matt O'Connor, a Partner within Carlyle's Global Infrastructure team, said, "This is a win-win transaction for everyone involved as Cogentrix begins its next chapter of growth with Quantum. We are proud of the significant transformation Cogentrix has achieved under our ownership."

Carlyle shares fell 7.5% to close at $40.91 on Monday.

These analysts made changes to their price targets on Carlyle following earnings announcement.

• Keefe, Bruyette & Woods analyst Kyle Voigt maintained Carlyle Group with a Market Perform and lowered the price target from $48 to $46.
• JP Morgan analyst Kenneth Worthington downgraded Carlyle Group from Overweight to Neutral and lowered the price target from $46 to $44.
• Oppenheimer analyst Chris Kotowski maintained the stock with an Outperform and lowered the price target from $69 to $64.

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