Gabelli Comments on Cohen & Steers Inc.’s FY2017 Earnings (CNS)
Cohen & Steers Inc. (NYSE:CNS) – Analysts at Gabelli lowered their FY2017 earnings per share estimates for shares of Cohen & Steers in a note issued to investors on Thursday. Gabelli analyst M. Sykes now forecasts that the firm will post earnings of $2.05 per share for the year, down from their prior forecast of $2.10. Gabelli also issued estimates for Cohen & Steers’ FY2018 earnings at $2.25 EPS, FY2019 earnings at $2.55 EPS and FY2020 earnings at $2.85 EPS.
Cohen & Steers (NYSE:CNS) last announced its quarterly earnings results on Wednesday, October 19th. The company reported $0.51 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.51. Cohen & Steers had a net margin of 21.24% and a return on equity of 32.61%. The firm earned $94.39 million during the quarter, compared to the consensus estimate of $1.02 million. During the same period last year, the firm posted $0.28 EPS. The firm’s quarterly revenue was up 18.4% on a year-over-year basis.
Several other analysts have also issued reports on the stock. Zacks Investment Research lowered shares of Cohen & Steers from a “hold” rating to a “strong sell” rating in a research report on Tuesday, October 25th. Keefe, Bruyette & Woods set a $45.00 price objective on shares of Cohen & Steers and gave the company a “hold” rating in a report on Friday, October 14th. Finally, Credit Suisse Group AG set a $42.00 price objective on shares of Cohen & Steers and gave the company a “hold” rating in a report on Sunday, September 18th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $44.40.
Cohen & Steers (NYSE:CNS) opened at 35.11 on Friday. Cohen & Steers has a one year low of $26.72 and a one year high of $43.83. The company has a market capitalization of $1.61 billion, a P/E ratio of 20.51 and a beta of 1.51. The company’s 50-day moving average is $39.00 and its 200 day moving average is $40.33.
The firm also recently declared a dividend, which will be paid on Wednesday, December 14th. Investors of record on Wednesday, November 23rd will be paid a $0.76 dividend. The ex-dividend date of this dividend is Monday, November 21st. This is an increase from Cohen & Steers’s previous dividend of $0.25. Cohen & Steers’s dividend payout ratio is 66.67%.
Several institutional investors have recently added to or reduced their stakes in the stock. Huntington National Bank acquired a new position in Cohen & Steers during the second quarter valued at approximately $109,000. Boston Advisors LLC acquired a new position in Cohen & Steers during the second quarter valued at approximately $297,000. Shell Asset Management Co. acquired a new position in Cohen & Steers during the second quarter valued at approximately $856,000. Robeco Institutional Asset Management B.V. acquired a new position in Cohen & Steers during the second quarter valued at approximately $890,000. Finally, Old Mutual Global Investors UK Ltd. increased its stake in shares of Cohen & Steers by 1,694.2% in the second quarter. Old Mutual Global Investors UK Ltd. now owns 23,989 shares of the company’s stock worth $970,000 after buying an additional 22,652 shares during the last quarter. Institutional investors and hedge funds own 44.31% of the company’s stock.
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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