Cohen & Steers (NYSE:CNS) Hits New 12-Month Low - What's Next?

Key Points

• Cohen & Steers stock reached a new 12-month low of $65.71, closing at $65.85 with a trading volume of 18,661 shares.
• Analysts have lowered their price targets, with Bank of America reducing its target from $67.00 to $66.00 while maintaining an "underperform" rating.
• The company reported a quarterly earnings miss, posting $0.73 earnings per share, below the consensus estimate of $0.75, but achieved a revenue increase of 11.8% year-over-year.

Cohen & Steers Inc (NYSE:CNS - Get Free Report)'s share price hit a new 52-week low during trading on Monday . The stock traded as low as $65.71 and last traded at $65.85, with a volume of 18661 shares traded. The stock had previously closed at $66.41.

Analysts Set New Price Targets

Several analysts have recently commented on the company. Bank of America decreased their target price on Cohen & Steers from $67.00 to $66.00 and set an "underperform" rating for the company in a research report on Monday, July 21st. Evercore ISI decreased their target price on Cohen & Steers from $79.00 to $77.00 and set an "outperform" rating for the company 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 issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $81.67.

Cohen & Steers Stock Performance

The firm has a market capitalization of $3.39 billion, a P/E ratio of 21.11, a P/E/G ratio of 2.25 and a beta of 1.42. The stock has a fifty day moving average price of $72.74 and a two-hundred day moving average price of $75.51.

Cohen & Steers (NYSE:CNS - Get Free Report) last issued its quarterly earnings results on Thursday, July 17th. The asset manager reported $0.73 earnings per share for the quarter, missing analysts' consensus estimates of $0.75 by ($0.02). The firm 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%. Cohen & Steers's revenue was up 11.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.68 earnings per share.

Cohen & Steers Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 21st. Stockholders of record on Monday, August 11th were issued a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a dividend yield of 3.7%. The ex-dividend date of this dividend was Monday, August 11th. Cohen & Steers's dividend payout ratio is currently 78.73%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Caitong International Asset Management Co. Ltd acquired a new position in shares of Cohen & Steers during the 1st quarter valued at about $25,000. Geneos Wealth Management Inc. increased its holdings in shares of Cohen & Steers by 345.3% during the 1st quarter. Geneos Wealth Management Inc. now owns 383 shares of the asset manager's stock valued at $31,000 after acquiring an additional 297 shares during the last quarter. Fifth Third Bancorp increased its holdings in shares of Cohen & Steers by 101.9% during the 1st quarter. Fifth Third Bancorp now owns 654 shares of the asset manager's stock valued at $52,000 after acquiring an additional 330 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of Cohen & Steers by 36.1% during the 1st quarter. GAMMA Investing LLC now owns 992 shares of the asset manager's stock valued at $80,000 after acquiring an additional 263 shares during the last quarter. Finally, New Age Alpha Advisors LLC acquired a new position in shares of Cohen & Steers during the 1st quarter valued at about $110,000. 51.47% of the stock is owned by institutional investors and hedge funds.

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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