Cowen (NASDAQ:COWN) announced that its Board of Directors has initiated a share repurchase plan, which permits the company to repurchase $23.60 million in shares on Thursday, February 15th, EventVestor reports. This repurchase authorization permits the financial services provider to buy shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board believes its shares are undervalued.
Cowen (NASDAQ:COWN) opened at $14.80 on Monday. The company has a market cap of $460.10, a P/E ratio of -6.79 and a beta of 1.44. Cowen has a 12 month low of $11.62 and a 12 month high of $18.25. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.16.
Cowen (NASDAQ:COWN) last issued its quarterly earnings data on Thursday, February 15th. The financial services provider reported ($0.30) EPS for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.69). The business had revenue of $204.50 million during the quarter, compared to the consensus estimate of $178.98 million. Cowen had a positive return on equity of 1.94% and a negative net margin of 9.24%. The business’s quarterly revenue was up 67.2% on a year-over-year basis. During the same period last year, the firm earned ($0.48) EPS.
A number of analysts recently issued reports on the company. Nomura upgraded Cowen from a “neutral” rating to a “buy” rating and boosted their price target for the company from $13.00 to $16.00 in a report on Friday. BidaskClub raised shares of Cowen from a “strong sell” rating to a “sell” rating in a research note on Saturday, February 10th.
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Cowen Company Profile
Cowen Inc, formerly Cowen Group, Inc, is a financial services company. The Company provides alternative investment management, investment banking, research, sales and trading, and prime brokerage services. It operates through two segments: alternative investment and broker-dealer. The alternative investment segment includes private equity structures, registered investment companies and listed investment vehicles.
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