Evercore ISI Has Lowered Expectations for Cohen & Steers (NYSE:CNS) Stock Price

Key Points

• Evercore ISI has decreased its price target for Cohen & Steers (NYSE:CNS) from $77.00 to $74.00, while maintaining an "outperform" rating, suggesting a potential upside of 11.46% from the current price.
• Bank of America raised its price target for the stock from $66.00 to $68.00 but rated it as "underperform," indicating mixed analyst sentiments surrounding the stock.
• Institutional investors and hedge funds currently hold 51.47% of Cohen & Steers' stock, with several firms increasing their stakes significantly in the first quarter.

Cohen & Steers (NYSE:CNS - Get Free Report) had its price objective decreased by stock analysts at Evercore ISI from $77.00 to $74.00 in a research report issued on Thursday,Benzinga reports. The firm currently has an "outperform" rating on the asset manager's stock. Evercore ISI's price target would suggest a potential upside of 11.46% from the stock's current price.

Other research analysts have also recently issued research reports about the stock. Bank of America boosted their price objective on shares of Cohen & Steers from $66.00 to $68.00 and gave the stock an "underperform" rating in a research report on Thursday, October 2nd. Weiss Ratings restated a "hold (c)" rating on shares of Cohen & Steers in a research report on Wednesday. One investment analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $81.33.

Cohen & Steers Price Performance

Shares of NYSE:CNS traded up $0.13 during trading on Thursday, reaching $66.39. The stock had a trading volume of 71,039 shares, compared to its average volume of 220,533. Cohen & Steers has a 52 week low of $64.29 and a 52 week high of $110.67. The business's 50-day moving average price is $71.28 and its 200 day moving average price is $74.84. The stock has a market capitalization of $3.39 billion, a PE ratio of 21.08, a P/E/G ratio of 2.05 and a beta of 1.38.

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

Hedge Funds Weigh In On Cohen & Steers

Institutional investors and hedge funds have recently made changes to their positions in the company. Caitong International Asset Management Co. Ltd acquired a new position in shares of Cohen & Steers in the 1st quarter valued at $25,000. Geneos Wealth Management Inc. boosted its stake 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 during the period. Fifth Third Bancorp boosted its stake in Cohen & Steers by 101.9% in the 1st quarter. Fifth Third Bancorp now owns 654 shares of the asset manager's stock worth $52,000 after purchasing an additional 330 shares during the period. GAMMA Investing LLC boosted its stake in Cohen & Steers by 36.1% in the 1st quarter. GAMMA Investing LLC now owns 992 shares of the asset manager's stock worth $80,000 after purchasing an additional 263 shares during the period. Finally, New Age Alpha Advisors LLC acquired a new position in Cohen & Steers in the 1st quarter worth $110,000. Institutional investors and hedge funds own 51.47% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.