Cohen & Steers (NYSE:CNS) Share Price Breaks Below 50 Day Moving Average - What's Next?

Key Points

• Cohen & Steers shares fell below their 50-day moving average of $73.01, trading as low as $72.28 and last at $72.799.
• Analyst views are mixed: one Buy, one Hold, and one Sell rating. The consensus rating is Hold, with an average price target of $88.
• Quarterly revenue rose 11.1% year over year to $156.41 million, while earnings per share matched estimates at $0.89. The company also announced a quarterly dividend of $0.67 per share, a 3.7% yield.

Cohen & Steers Inc (NYSE:CNS - Get Free Report)'s share price passed below its 50-day moving average during trading on Wednesday. The stock has a 50-day moving average of $73.01 and traded as low as $72.28. Cohen & Steers shares last traded at $72.7990, with a volume of 218,150 shares traded.

Analysts Set New Price Targets

CNS has been the subject of several analyst reports. Evercore reiterated an "outperform" rating and issued a $88.00 price objective on shares of Cohen & Steers in a research note on Monday, August 10th. Weiss Ratings lowered Cohen & Steers from a "buy (b-)" rating to a "hold (c+)" rating in a report on Monday, November 2nd. Finally, Zacks Research lowered Cohen & Steers from a "hold" rating to a "strong sell" rating in a report on Thursday, October 15th. One 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. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $88.00.

Cohen & Steers Stock Performance

The stock has a 50 day moving average price of $73.01 and a 200 day moving average price of $72.24. The company has a market capitalization of $3.74 billion, a P/E ratio of 22.33, a PEG ratio of 3.70 and a beta of 1.19.

Cohen & Steers (NYSE:CNS - Get Free Report) last posted its quarterly earnings results on Thursday, October 15th. The asset manager reported $0.89 earnings per share for the quarter, meeting the consensus estimate of $0.89. Cohen & Steers had a net margin of 28.16% and a return on equity of 26.90%. The company had revenue of $156.41 million during the quarter, compared to analyst estimates of $155.12 million. During the same quarter in the prior year, the business earned $0.81 earnings per share. The firm's revenue for the quarter was up 11.1% on a year-over-year basis. As a group, sell-side analysts expect that Cohen & Steers Inc will post 3.49 earnings per share for the current year.

Cohen & Steers Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 19th. Stockholders of record on Monday, November 9th will be given a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date of this dividend is Monday, November 9th. Cohen & Steers's dividend payout ratio is currently 82.21%.

Institutional Investors Weigh In On Cohen & Steers

Large investors have recently modified their holdings of the stock. GW&K Investment Management LLC increased its position in Cohen & Steers by 2.9% in the third quarter. GW&K Investment Management LLC now owns 359,192 shares of the asset manager's stock worth $26,261,000 after buying an additional 10,248 shares during the last quarter. Taylor Hoffman Capital Management LLC lifted its position in shares of Cohen & Steers by 2.8% during the 3rd quarter. Taylor Hoffman Capital Management LLC now owns 73,890 shares of the asset manager's stock valued at $5,402,000 after buying an additional 2,020 shares during the last quarter. Focus Advisor Solutions LLC purchased a new position in shares of Cohen & Steers during the 3rd quarter valued at $222,000. Royce & Associates LP lifted its position in shares of Cohen & Steers by 1.5% during the 3rd quarter. Royce & Associates LP now owns 28,720 shares of the asset manager's stock valued at $2,100,000 after buying an additional 412 shares during the last quarter. Finally, Fifth Third Bancorp grew its stake in shares of Cohen & Steers by 16.0% during the 3rd quarter. Fifth Third Bancorp now owns 1,252 shares of the asset manager's stock worth $92,000 after acquiring an additional 173 shares during the period. Hedge funds and other institutional investors own 51.47% of the company's stock.

Cohen & Steers Company Profile

Cohen & Steers, Inc. is a global investment manager specializing in real assets and alternative income. The company manages investment strategies focused on publicly traded real estate securities, infrastructure, natural resources and preferred securities, along with related multi-asset strategies. Founded in 1986 by Martin Cohen and Robert Steers, the firm has built its business around specialized investment management. Its offerings include mutual funds, exchange-traded funds, closed-end funds and separately managed accounts for individual and institutional investors.

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