Cohen & Steers (NYSE:CNS) Releases Quarterly Earnings Results, Meets Expectations

Key Points

• Cohen & Steers met earnings expectations, reporting quarterly EPS of $0.89 and revenue of $156.41 million, slightly above analysts’ $155.12 million forecast. Net margin was 28.82%, while return on equity reached 27.41%.
• The stock rose 4.8% to $69.56 during Thursday trading. The company also maintains a quarterly dividend of $0.67 per share, equivalent to a $2.68 annualized payout and a 3.9% yield.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $88.00; insiders own 45.4% of the company, despite a recent sale by its chief accounting officer.

Cohen & Steers (NYSE:CNS - Get Free Report) issued its quarterly earnings data on Thursday. The asset manager reported $0.89 earnings per share for the quarter, hitting the consensus estimate of $0.89, FiscalAI reports. The company had revenue of $156.41 million for the quarter, compared to analysts' expectations of $155.12 million. Cohen & Steers had a net margin of 28.82% and a return on equity of 27.41%.

Cohen & Steers Stock Up 4.8%

Cohen & Steers stock traded up $3.17 during mid-day trading on Thursday, hitting $69.56. 580,731 shares of the stock were exchanged, compared to its average volume of 313,748. Cohen & Steers has a 12 month low of $58.39 and a 12 month high of $86.56. The firm's fifty day simple moving average is $77.24 and its two-hundred day simple moving average is $74.60. The stock has a market capitalization of $3.58 billion, a price-to-earnings ratio of 21.34, a PEG ratio of 1.69 and a beta of 1.22.

Cohen & Steers Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 20th. Shareholders of record on Monday, August 10th were issued a dividend of $0.67 per share. The ex-dividend date was Monday, August 10th. This represents a $2.68 annualized dividend and a yield of 3.9%. Cohen & Steers's dividend payout ratio (DPR) is presently 82.21%.

Insider Buying and Selling at Cohen & Steers

In other news, CAO Elena Dulik sold 1,100 shares of the stock in a transaction on Monday, July 20th. The shares were sold at an average price of $83.16, for a total transaction of $91,476.00. Following the completion of the sale, the chief accounting officer directly owned 22,146 shares in the company, valued at $1,841,661.36. This represents a 4.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 45.40% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on CNS shares. Evercore reaffirmed an "outperform" rating and set a $88.00 target price on shares of Cohen & Steers in a research report on Monday, August 10th. Weiss Ratings raised Cohen & Steers from a "hold (c+)" rating to a "buy (b-)" rating in a report on Thursday, October 8th. Two analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $88.00.

Cohen & Steers Company Profile

Cohen & Steers, Inc is a global investment management company specializing in listed real assets and alternative income. The firm manages portfolios focused on areas such as real estate securities, infrastructure, natural resource equities, commodities, preferred securities and other income-oriented investments.

Its investment solutions are offered through mutual funds, exchange-traded funds, closed-end funds, institutional accounts and separately managed accounts. Cohen & Steers serves a range of clients, including institutional investors, financial advisers and individual investors, with strategies covering markets in the United States and internationally.

Founded in 1986 by Martin Cohen and Robert Steers, the company is headquartered in New York City and maintains an international presence to support its global investment activities.

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