Cohen & Steers (NYSE:CNS) Reaches New 1-Year Low - Should You Sell?

Key Points

• Cohen & Steers' stock hit a new 52-week low at $68.82 before last trading at $69.14, with a notable drop from a previous close of $70.34.
• Analysts are divided on the stock, with Bank of America downgrading its price objective to $66.00 and Evercore ISI maintaining an "outperform" rating but lowering its target to $77.00.
• The company reported a missed earnings estimate for its last quarter, with earnings per share of $0.73 against an expected $0.75, despite an 11.8% year-over-year revenue increase.

Cohen & Steers Inc (NYSE:CNS - Get Free Report)'s stock price hit a new 52-week low during trading on Tuesday . The stock traded as low as $68.82 and last traded at $69.14, with a volume of 8342 shares trading hands. The stock had previously closed at $70.34.

Analysts Set New Price Targets

Several brokerages have issued reports on CNS. Evercore ISI dropped their target price on shares of Cohen & Steers from $79.00 to $77.00 and set an "outperform" rating for the company in a research report on Friday, September 5th. Bank of America dropped their target price on shares of Cohen & Steers from $67.00 to $66.00 and set an "underperform" rating for the company in a research report on Monday, July 21st. One research 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. According to MarketBeat.com, Cohen & Steers currently has a consensus rating of "Hold" and an average price target of $81.67.

Cohen & Steers Price Performance

The firm's 50-day moving average price is $73.57 and its 200-day moving average price is $76.13. The stock has a market cap of $3.50 billion, a P/E ratio of 21.77, a PEG ratio of 2.36 and a beta of 1.42.

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

Cohen & Steers Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 21st. Stockholders of record on Monday, August 11th were paid a dividend of $0.62 per share. The ex-dividend date was Monday, August 11th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 3.6%. Cohen & Steers's payout ratio is presently 78.73%.

Institutional Investors Weigh In On Cohen & Steers

Large investors have recently bought and sold shares of the company. Caitong International Asset Management Co. Ltd purchased a new stake in Cohen & Steers in the first quarter valued at approximately $25,000. Geneos Wealth Management Inc. boosted its position in Cohen & Steers by 345.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 383 shares of the asset manager's stock worth $31,000 after purchasing an additional 297 shares in the last quarter. Fifth Third Bancorp raised its stake 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 worth $52,000 after buying an additional 330 shares during the period. GAMMA Investing LLC raised its stake 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 worth $80,000 after buying an additional 263 shares during the period. Finally, New Age Alpha Advisors LLC acquired a new position in Cohen & Steers in the 1st quarter valued at $110,000. Hedge funds and other institutional investors 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.