Cohen & Steers (NYSE:CNS) Releases Earnings Results, Misses Expectations By $0.02 EPS

Cohen & Steers (NYSE:CNS - Get Free Report) announced its quarterly earnings data on Thursday. The asset manager reported $0.73 EPS for the quarter, missing the consensus estimate of $0.75 by ($0.02), Zacks reports. The firm had revenue of $135.32 million for the quarter, compared to analysts' expectations of $134.59 million. Cohen & Steers had a net margin of 29.68% and a return on equity of 30.46%. The business's revenue for the quarter was up 11.8% compared to the same quarter last year. During the same period last year, the company posted $0.68 earnings per share.

Cohen & Steers Stock Performance

Shares of CNS opened at $75.65 on Friday. The business's 50-day moving average is $77.27 and its two-hundred day moving average is $80.67. The company has a market capitalization of $3.86 billion, a P/E ratio of 24.72, a P/E/G ratio of 2.49 and a beta of 1.32. Cohen & Steers has a fifty-two week low of $68.99 and a fifty-two week high of $110.67.

Cohen & Steers Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 22nd. Shareholders of record on Monday, May 12th were given a dividend of $0.62 per share. The ex-dividend date of this dividend was Monday, May 12th. This represents a $2.48 dividend on an annualized basis and a yield of 3.28%. Cohen & Steers's dividend payout ratio is currently 81.05%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. Evercore ISI dropped their price objective on shares of Cohen & Steers from $94.00 to $78.00 and set an "outperform" rating on the stock in a report on Friday, April 11th. Bank of America began coverage on shares of Cohen & Steers in a research note on Monday, June 30th. They set an "underperform" rating and a $67.00 price target on the stock.

Hedge Funds Weigh In On Cohen & Steers

Large investors have recently bought and sold shares of the business. Millennium Management LLC grew its stake in shares of Cohen & Steers by 485.1% in the 1st quarter. Millennium Management LLC now owns 93,175 shares of the asset manager's stock valued at $7,477,000 after buying an additional 77,251 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in Cohen & Steers by 3.1% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 72,742 shares of the asset manager's stock valued at $5,838,000 after acquiring an additional 2,155 shares during the last quarter. Jane Street Group LLC lifted its holdings in Cohen & Steers by 475.9% in the first quarter. Jane Street Group LLC now owns 52,208 shares of the asset manager's stock valued at $4,190,000 after acquiring an additional 43,143 shares during the last quarter. Royal Bank of Canada grew its position in Cohen & Steers by 2.0% in the first quarter. Royal Bank of Canada now owns 51,397 shares of the asset manager's stock worth $4,124,000 after acquiring an additional 1,003 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Cohen & Steers by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,367 shares of the asset manager's stock worth $1,313,000 after acquiring an additional 716 shares during the last quarter. Institutional investors and hedge funds own 51.47% of the company's stock.

Cohen & Steers Company Profile

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.