Cohen & Steers Inc. (CNS) Issues Earnings Results, Hits Estimates
Cohen & Steers Inc. (NYSE:CNS) posted its quarterly earnings results on Wednesday. The company reported $0.51 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.51. Cohen & Steers had a return on equity of 30.80% and a net margin of 20.12%. The business had revenue of $94.39 million for the quarter, compared to the consensus estimate of $1.02 million.
Shares of Cohen & Steers (NYSE:CNS) traded up 0.44% during mid-day trading on Wednesday, reaching $38.74. The company’s stock had a trading volume of 127,034 shares. Cohen & Steers has a 12 month low of $26.72 and a 12 month high of $43.83. The company has a market cap of $1.78 billion, a P/E ratio of 26.32 and a beta of 1.12. The company has a 50-day moving average of $41.61 and a 200-day moving average of $40.78.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 22nd. Shareholders of record on Thursday, September 1st were issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 2.68%. The ex-dividend date was Tuesday, August 30th. Cohen & Steers’s dividend payout ratio is currently 73.24%.
A number of research analysts recently weighed in on the company. Zacks Investment Research downgraded Cohen & Steers from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 26th. Credit Suisse Group AG set a $42.00 price target on Cohen & Steers and gave the stock a “hold” rating in a research note on Sunday, September 18th. Finally, Keefe, Bruyette & Woods set a $45.00 price target on Cohen & Steers and gave the stock a “hold” rating in a research note on Friday, October 14th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $44.40.
Several hedge funds have recently bought and sold shares of CNS. Barclays PLC acquired a new stake in Cohen & Steers during the second quarter valued at about $118,000. Parametric Portfolio Associates LLC boosted its stake in Cohen & Steers by 3.8% in the second quarter. Parametric Portfolio Associates LLC now owns 17,511 shares of the company’s stock valued at $708,000 after buying an additional 646 shares during the last quarter. Rhumbline Advisers boosted its stake in Cohen & Steers by 1.7% in the second quarter. Rhumbline Advisers now owns 39,806 shares of the company’s stock valued at $1,610,000 after buying an additional 656 shares during the last quarter. FMR LLC boosted its stake in Cohen & Steers by 52.7% in the second quarter. FMR LLC now owns 232,600 shares of the company’s stock valued at $9,406,000 after buying an additional 80,300 shares during the last quarter. Finally, American International Group Inc. boosted its stake in Cohen & Steers by 1.3% in the second quarter. American International Group Inc. now owns 12,028 shares of the company’s stock valued at $486,000 after buying an additional 154 shares during the last quarter. 44.35% of the stock is currently owned by institutional investors.
Cohen & Steers Company Profile
Cohen & Steers, Inc is a holding company. The Company is an investment manager with a focus on liquid real assets, including real estate securities, listed infrastructure, commodities and natural resource equities, as well as preferred securities and other income solutions. The Company serves institutional and individual investors around the world.
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