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Cohen & Steers (NYSE:CNS) Trading 3.7% Higher on Earnings Beat

Cohen & Steers logo with Finance background

Key Points

  • Cohen & Steers Inc stock rose by 3.7% following an earnings announcement where they reported an EPS of $0.81, exceeding analysts' expectations by $0.03.
  • The company declared a quarterly dividend of $0.62, with an annualized dividend of $2.48, reflecting a yield of 3.6%.
  • Recent analyst ratings for Cohen & Steers show a consensus rating of "Hold" with a price target of $71.00, while Evercore ISI lowered their price target from $77.00 to $74.00.
  • MarketBeat previews the top five stocks to own by November 1st.

Cohen & Steers Inc (NYSE:CNS - Get Free Report) traded up 3.7% during trading on Friday following a better than expected earnings announcement. The stock traded as high as $68.16 and last traded at $68.23. 102,640 shares were traded during trading, a decline of 54% from the average session volume of 223,268 shares. The stock had previously closed at $65.80.

The asset manager reported $0.81 EPS for the quarter, topping analysts' consensus estimates of $0.78 by $0.03. Cohen & Steers had a return on equity of 29.95% and a net margin of 29.82%.The company had revenue of $140.94 million during the quarter, compared to analyst estimates of $138.84 million. During the same period in the previous year, the company earned $0.77 earnings per share. The company's quarterly revenue was up 6.4% compared to the same quarter last year.

Cohen & Steers Announces Dividend

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

Analyst Ratings Changes

CNS has been the topic of several research reports. Evercore ISI dropped their price objective on shares of Cohen & Steers from $77.00 to $74.00 and set an "outperform" rating on the stock in a report on Thursday, October 9th. Weiss Ratings reissued a "hold (c)" rating on shares of Cohen & Steers in a report on Wednesday, October 8th. Finally, Bank of America boosted their price objective on Cohen & Steers from $66.00 to $68.00 and gave the company an "underperform" rating in a research report on Thursday, October 2nd. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $71.00.

View Our Latest Stock Report on Cohen & Steers

Hedge Funds Weigh In On Cohen & Steers

Hedge funds have recently modified their holdings of the stock. Wasatch Advisors LP grew its position in Cohen & Steers by 15.1% in the second quarter. Wasatch Advisors LP now owns 2,465,698 shares of the asset manager's stock valued at $185,790,000 after acquiring an additional 323,759 shares during the period. State Street Corp boosted its stake in shares of Cohen & Steers by 0.8% in the 2nd quarter. State Street Corp now owns 1,116,966 shares of the asset manager's stock valued at $84,163,000 after purchasing an additional 9,099 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Cohen & Steers by 1.8% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 1,076,846 shares of the asset manager's stock worth $81,140,000 after purchasing an additional 18,537 shares during the last quarter. Boston Trust Walden Corp increased its position in shares of Cohen & Steers by 1.3% during the 2nd quarter. Boston Trust Walden Corp now owns 922,895 shares of the asset manager's stock worth $69,540,000 after purchasing an additional 11,464 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in Cohen & Steers by 1.9% during the 2nd quarter. Geode Capital Management LLC now owns 764,842 shares of the asset manager's stock valued at $57,638,000 after purchasing an additional 13,969 shares during the last quarter. 51.47% of the stock is owned by institutional investors and hedge funds.

Cohen & Steers Trading Up 4.4%

The stock has a market capitalization of $3.50 billion, a P/E ratio of 21.82, a P/E/G ratio of 2.07 and a beta of 1.38. The firm's fifty day moving average is $70.43 and its 200-day moving average is $74.26.

About Cohen & Steers

(Get Free Report)

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.

Further Reading

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