On August 14, Carlyle Group LP rose 5.41% in regular trading, trading at $50.88/share, with turnover of $103 million.
On the news front, Carlyle recently reported Q2 financial results that significantly exceeded market expectations, while UBS raised its target price, jointly driving the stock higher. Specifically, Carlyle posted Q2 distributable EPS of $1.07, well above the consensus estimate of $0.91. Revenue came in at $1.12 billion, also surpassing the expected $881 million, though it declined 28.7% year-over-year due to market conditions and deal pacing. The company also declared a quarterly cash dividend of $0.35 per share.
Additionally, UBS raised its price target on Carlyle from $63 to $70, maintaining a Buy rating. Within the Asset Management & Custody Banks sector, peers showed broad strength, with KKR up 4.75%, Ares Management up 4.57%, Blackstone up 2.07%, and BlackRock up 1.76%.
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