Bank of America Forecasts Strong Price Appreciation for Cohen & Steers (NYSE:CNS) Stock

Key Points

• Bank of America raised its price target for Cohen & Steers (NYSE:CNS) from $66.00 to $68.00, indicating a potential upside of 4.29% from the current price, though it maintains an "underperform" rating.
• Evercore ISI also adjusted its price target for Cohen & Steers, reducing it from $79.00 to $77.00, while giving it an "outperform" rating.
• Cohen & Steers reported a miss on earnings per share for the latest quarter, posting $0.73 against an expected $0.75, although revenue increased by 11.8% year-over-year.

Cohen & Steers (NYSE:CNS - Get Free Report) had its price target boosted by equities research analysts at Bank of America from $66.00 to $68.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has an "underperform" rating on the asset manager's stock. Bank of America's price target would suggest a potential upside of 4.29% from the company's current price.

Separately, Evercore ISI reduced their price target on shares of Cohen & Steers from $79.00 to $77.00 and set an "outperform" rating on the stock in a research report on Friday, September 5th. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Cohen & Steers has an average rating of "Hold" and an average target price of $82.33.

Cohen & Steers Price Performance

Cohen & Steers stock traded up $0.67 during trading hours on Thursday, hitting $65.20. The company had a trading volume of 109,917 shares, compared to its average volume of 219,698. The firm has a market cap of $3.33 billion, a PE ratio of 20.71, a PEG ratio of 2.22 and a beta of 1.38. Cohen & Steers has a one year low of $64.29 and a one year high of $110.67. The firm has a 50-day moving average of $72.18 and a 200 day moving average of $75.29.

Cohen & Steers (NYSE:CNS - Get Free Report) last released its quarterly earnings results on Thursday, July 17th. The asset manager reported $0.73 earnings per share for the quarter, missing the consensus estimate of $0.75 by ($0.02). The company had revenue of $135.32 million during the quarter, compared to the consensus estimate of $134.59 million. Cohen & Steers had a net margin of 29.82% and a return on equity of 29.95%. The firm's revenue was up 11.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.68 earnings per share.

Hedge Funds Weigh In On Cohen & Steers

Hedge funds have recently modified their holdings of the business. Caitong International Asset Management Co. Ltd bought a new position in Cohen & Steers during the first quarter worth $25,000. Geneos Wealth Management Inc. raised its stake in Cohen & Steers by 345.3% during the first quarter. Geneos Wealth Management Inc. now owns 383 shares of the asset manager's stock worth $31,000 after buying an additional 297 shares during the last quarter. Fifth Third Bancorp raised its stake in Cohen & Steers by 101.9% during the first quarter. Fifth Third Bancorp now owns 654 shares of the asset manager's stock worth $52,000 after buying an additional 330 shares during the last quarter. GAMMA Investing LLC increased its stake in Cohen & Steers by 36.1% in the first quarter. GAMMA Investing LLC now owns 992 shares of the asset manager's stock valued at $80,000 after purchasing an additional 263 shares in the last quarter. Finally, New Age Alpha Advisors LLC bought a new stake in Cohen & Steers in the first quarter valued at $110,000. Institutional investors and hedge funds own 51.47% of the company's stock.

About Cohen & Steers

Cohen & Steers, Inc is a holding company, which operates as an investment manager specializing in liquid real assets, which include real estate securities, listed infrastructure, commodities, natural resource equities, preferred securities, and other income solutions. It manages investment vehicles, such as institutional accounts, open-end funds and closed-end funds.

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