Cohen & Steers (NYSE:CNS) Price Target Lowered to $66.00 at Bank of America

Cohen & Steers (NYSE:CNS - Get Free Report) had its target price cut by analysts at Bank of America from $67.00 to $66.00 in a note issued to investors on Monday,Benzinga reports. The firm currently has an "underperform" rating on the asset manager's stock. Bank of America's target price indicates a potential downside of 10.86% from the stock's previous close.

Separately, Evercore ISI cut their price objective on shares of Cohen & Steers from $94.00 to $78.00 and set an "outperform" rating for the company in a report on Friday, April 11th.

Cohen & Steers Stock Performance

NYSE CNS traded up $1.35 on Monday, hitting $74.04. 23,443 shares of the stock traded hands, compared to its average volume of 203,730. The business's fifty day moving average is $77.12 and its two-hundred day moving average is $80.38. Cohen & Steers has a 12 month low of $68.99 and a 12 month high of $110.67. The firm has a market capitalization of $3.77 billion, a price-to-earnings ratio of 23.50, a PEG ratio of 2.39 and a beta of 1.32.

Cohen & Steers (NYSE:CNS - Get Free Report) last announced its quarterly earnings data 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). Cohen & Steers had a net margin of 29.82% and a return on equity of 30.36%. The firm had revenue of $135.32 million for the quarter, compared to the consensus estimate of $134.59 million. During the same period last year, the company posted $0.68 earnings per share. Cohen & Steers's revenue for the quarter was up 11.8% on a year-over-year basis.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of CNS. Connor Clark & Lunn Investment Management Ltd. bought a new position in Cohen & Steers in the 4th quarter valued at $414,000. Swiss National Bank boosted its stake in Cohen & Steers by 0.9% during the fourth quarter. Swiss National Bank now owns 54,700 shares of the asset manager's stock valued at $5,051,000 after buying an additional 500 shares during the period. Envestnet Portfolio Solutions Inc. boosted its stake in Cohen & Steers by 4.5% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 5,364 shares of the asset manager's stock valued at $495,000 after buying an additional 230 shares during the period. Cibc World Markets Corp bought a new stake in Cohen & Steers during the fourth quarter valued at $238,000. Finally, Teacher Retirement System of Texas bought a new stake in Cohen & Steers during the fourth quarter valued at $1,933,000. 51.47% of the stock is owned by institutional investors.

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.

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