Cohen & Steers Inc. (CNS) Shares Gap Up to $42.25
Cohen & Steers Inc. (NYSE:CNS) gapped up prior to trading on Friday . The stock had previously closed at $41.97, but opened at $42.25. Cohen & Steers shares last traded at $43.39, with a volume of 22,209 shares trading hands.
CNS has been the topic of a number of recent research reports. TheStreet upgraded Cohen & Steers from a “hold” rating to a “buy” rating in a research note on Thursday, April 14th. Sidoti initiated coverage on Cohen & Steers in a research note on Monday, April 11th. They issued a “buy” rating and a $51.00 target price on the stock. Zacks Investment Research cut Cohen & Steers from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 17th. Finally, Credit Suisse Group AG initiated coverage on Cohen & Steers in a research note on Thursday, July 14th. They issued a “neutral” rating and a $42.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $43.75.
The company has a market cap of $1.98 billion and a price-to-earnings ratio of 29.26. The firm’s 50 day moving average price is $41.46 and its 200 day moving average price is $37.15.
Cohen & Steers (NYSE:CNS) last issued its quarterly earnings results on Wednesday, July 20th. The company reported $0.46 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.49 by $0.03. The business earned $86.40 million during the quarter, compared to the consensus estimate of $86.12 million. During the same quarter in the prior year, the company posted $0.45 earnings per share. The firm’s revenue for the quarter was up 3.5% on a year-over-year basis. On average, equities analysts predict that Cohen & Steers Inc. will post $1.88 EPS for the current year.
A number of hedge funds and institutional investors have modified their holdings of CNS. Dimensional Fund Advisors LP increased its position in shares of Cohen & Steers by 51.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 209,210 shares of the company’s stock valued at $6,378,000 after buying an additional 71,353 shares in the last quarter. Comerica Bank purchased a new stake in Cohen & Steers during the fourth quarter worth about $1,537,000. Rhumbline Advisers boosted its stake in Cohen & Steers by 3.5% in the fourth quarter. Rhumbline Advisers now owns 37,420 shares of the company’s stock worth $1,141,000 after buying an additional 1,270 shares in the last quarter. Finally, California State Teachers Retirement System boosted its stake in Cohen & Steers by 1.7% in the fourth quarter. California State Teachers Retirement System now owns 37,563 shares of the company’s stock worth $1,145,000 after buying an additional 633 shares in the last quarter.
Cohen & Steers, Inc is a holding company. The Company is an investment manager with a focus on liquid real assets, including real estate securities, listed infrastructure, commodities and natural resource equities, as well as preferred securities and other income solutions. The Company serves institutional and individual investors around the world.
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