Cohen & Steers (NYSE:CNS) Releases Earnings Results, Misses Estimates By $0.01 EPS

Key Points

• Cohen & Steers reported quarterly EPS of $0.85, missing Wall Street estimates by $0.01, even though revenue came in above expectations at $151.84 million.
• The stock traded higher after the earnings release, rising to $80.71 during mid-day trading, near its 52-week high of $81.17.
• The company recently paid a quarterly dividend of $0.67 per share, which annualizes to $2.68 and implies a 3.3% yield.

Cohen & Steers (NYSE:CNS - Get Free Report) issued its quarterly earnings data on Thursday. The asset manager reported $0.85 earnings per share for the quarter, missing analysts' consensus estimates of $0.86 by ($0.01), FiscalAI reports. Cohen & Steers had a return on equity of 27.60% and a net margin of 27.47%.The business had revenue of $151.84 million for the quarter, compared to analysts' expectations of $149.45 million.

Cohen & Steers Stock Performance

NYSE CNS traded up $1.84 during mid-day trading on Thursday, reaching $80.71. 425,090 shares of the stock were exchanged, compared to its average volume of 332,057. The stock has a market capitalization of $4.15 billion, a PE ratio of 26.64, a PEG ratio of 1.93 and a beta of 1.22. Cohen & Steers has a 1-year low of $58.39 and a 1-year high of $81.17. The business's fifty day simple moving average is $74.52 and its 200 day simple moving average is $68.65.

Cohen & Steers Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, May 21st. Investors of record on Monday, May 11th were given a dividend of $0.67 per share. The ex-dividend date was Monday, May 11th. This represents a $2.68 dividend on an annualized basis and a yield of 3.3%. Cohen & Steers's dividend payout ratio (DPR) is 88.45%.

Insiders Place Their Bets

In related news, EVP Daniel Noonan sold 4,360 shares of the stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $77.33, for a total transaction of $337,158.80. Following the transaction, the executive vice president directly owned 28,682 shares in the company, valued at approximately $2,217,979.06. This represents a 13.20% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 45.40% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of CNS. Geneos Wealth Management Inc. increased its position 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 purchasing an additional 297 shares during the last quarter. Kestra Advisory Services LLC acquired a new position in shares of Cohen & Steers in the 4th quarter valued at $28,000. Aster Capital Management DIFC Ltd acquired a new position in shares of Cohen & Steers in the 4th quarter valued at $31,000. Caitong International Asset Management Co. Ltd grew its stake in shares of Cohen & Steers by 110.7% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 569 shares of the asset manager's stock valued at $36,000 after buying an additional 299 shares during the period. Finally, Group One Trading LLC grew its stake in shares of Cohen & Steers by 230.5% during the 4th quarter. Group One Trading LLC now owns 1,160 shares of the asset manager's stock valued at $73,000 after buying an additional 2,049 shares during the period. 51.47% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Zacks Research upgraded Cohen & Steers from a "strong sell" rating to a "hold" rating in a report on Friday, March 27th. Weiss Ratings raised Cohen & Steers from a "hold (c)" rating to a "hold (c+)" rating in a report on Monday, June 29th. Finally, Evercore restated an "outperform" rating and issued a $84.00 price objective on shares of Cohen & Steers in a research report on Friday, July 10th. One investment analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $76.00.

About Cohen & Steers

Cohen & Steers, Inc is a publicly traded investment management firm specializing in real estate securities and alternative income strategies. Founded in 1986 by Martin Cohen and Robert Steers, the company has built a reputation for expertise in listed real estate investment trusts (REITs) and related equities. Headquartered in New York City, Cohen & Steers applies a research-driven approach to identify value and income opportunities across global property markets.

The firm offers a diverse range of investment products, including mutual funds, closed-end funds, and exchange-traded funds (ETFs).

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