Carlyle Group Misses Q2 Earnings Estimates, Downgraded By JPMorgan
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Carlyle Group Inc (NASDAQ:CG) Monday announced disappointing second-quarter earnings.
The company’s results highlight issues around mix and realizations in funds, according to JPMorgan.
Analyst Kenneth Worthington downgraded the rating for Carlyle Group from Overweight to Neutral, while reducing the price target from $46 to $44.
The Carlyle Group Thesis: The company reported earnings of 78 cents per share, missing consensus of 83 cents per share, mainly due to “higher performance fee compensation and lower investment income,” Worthington said in the downgrade note.
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Performance fees were …
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