Zacks Investment Research upgraded shares of Cohen & Steers (NYSE:CNS) from a sell rating to a hold rating in a research report report published on Tuesday morning.
According to Zacks, “Shares of Cohen & Steers have outperformed the industry over the past six months. Also, the company has an impressive earnings surprise history, having surpassed the Zacks Consensus Estimate in three of the trailing four quarters. Improving assets under management (AUM) and diverse investment products are expected to continue supporting its revenue growth. Moreover, its efficient capital deployment activities reflect a strong capital position. However, continuously increasing expenses are expected to hurt its profitability to some extent. Moreover, as the company continues to invest in its franchise, operating expenses are expected to remain elevated in the future. Further, a stretched valuation limits the upside potential of the stock.”
Separately, ValuEngine cut shares of Cohen & Steers from a hold rating to a sell rating in a research note on Thursday, October 11th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company. The stock presently has an average rating of Hold and an average target price of $44.50.
NYSE CNS opened at $36.20 on Tuesday. The firm has a market cap of $1.67 billion, a price-to-earnings ratio of 14.85, a P/E/G ratio of 1.63 and a beta of 1.07. Cohen & Steers has a fifty-two week low of $34.29 and a fifty-two week high of $47.83.
Cohen & Steers (NYSE:CNS) last posted its earnings results on Wednesday, October 17th. The asset manager reported $0.64 earnings per share for the quarter, topping analysts’ consensus estimates of $0.62 by $0.02. The firm had revenue of $98.30 million for the quarter, compared to analysts’ expectations of $99.05 million. Cohen & Steers had a net margin of 28.13% and a return on equity of 38.16%. The company’s revenue was up 1.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.55 earnings per share. On average, sell-side analysts expect that Cohen & Steers will post 2.45 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 3rd. Investors of record on Monday, November 19th were paid a $0.33 dividend. The ex-dividend date was Friday, November 16th. This represents a $1.32 annualized dividend and a dividend yield of 3.65%. Cohen & Steers’s dividend payout ratio is 63.77%.
Institutional investors have recently modified their holdings of the stock. State of Alaska Department of Revenue bought a new stake in shares of Cohen & Steers in the third quarter worth $108,000. Sageworth Trust Co grew its stake in shares of Cohen & Steers by 500.0% in the third quarter. Sageworth Trust Co now owns 3,000 shares of the asset manager’s stock worth $122,000 after purchasing an additional 2,500 shares during the last quarter. Xact Kapitalforvaltning AB bought a new stake in shares of Cohen & Steers in the second quarter worth $202,000. MML Investors Services LLC bought a new stake in shares of Cohen & Steers in the third quarter worth $216,000. Finally, Envestnet Asset Management Inc. grew its stake in shares of Cohen & Steers by 33.9% in the second quarter. Envestnet Asset Management Inc. now owns 5,499 shares of the asset manager’s stock worth $229,000 after purchasing an additional 1,391 shares during the last quarter. 48.52% of the stock is currently owned by institutional investors.
About Cohen & Steers
Cohen & Steers, Inc is a publicly owned asset management holding company. Through its subsidiaries, the firm provides its services to institutional investors, including pension funds, endowments, and foundations. It manages separate client-focused equity, fixed income, multi-asset, and commodity portfolios through its subsidiaries.
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