Zacks Investment Research Upgrades Cohen & Steers Inc. (CNS) to “Hold”
Cohen & Steers Inc. (NYSE:CNS) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Tuesday. The firm currently has a $47.00 price objective on the stock. Zacks Investment Research’s price objective points to a potential upside of 11.51% from the stock’s previous close.
According to Zacks, “Cohen & Steers, Inc. is a leading manager of income-oriented equity portfolios and specializes in common and preferred stocks of REITs and utilities, as well as other preferred securities. Based in New York City, the firm serves individual and institutional investors through a wide range of open-end funds, closed-end funds and separate accounts. “
Separately, Credit Suisse Group AG reaffirmed a “hold” rating and issued a $42.00 price target on shares of Cohen & Steers in a research note on Thursday, September 1st. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $44.25.
Cohen & Steers (NYSE:CNS) opened at 42.15 on Tuesday. The firm’s 50 day moving average price is $42.32 and its 200 day moving average price is $40.04. The stock has a market cap of $1.93 billion, a price-to-earnings ratio of 28.63 and a beta of 1.30. Cohen & Steers has a 12 month low of $25.84 and a 12 month high of $43.83.
Cohen & Steers (NYSE:CNS) last posted its earnings results on Wednesday, July 20th. The company reported $0.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.49 by $0.03. Cohen & Steers had a return on equity of 30.80% and a net margin of 20.12%. The firm had revenue of $86.40 million for the quarter, compared to analysts’ expectations of $86.12 million. During the same period in the previous year, the company earned $0.45 earnings per share. The company’s revenue was up 3.5% compared to the same quarter last year. On average, equities research analysts predict that Cohen & Steers will post $1.88 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, September 22nd. Investors of record on Thursday, September 1st will be paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 2.47%. The ex-dividend date of this dividend is Tuesday, August 30th. Cohen & Steers’s dividend payout ratio is presently 73.24%.
Hedge funds have recently added to or reduced their stakes in the stock. KAMES CAPITAL plc acquired a new stake in Cohen & Steers during the second quarter worth approximately $693,000. Schwab Charles Investment Management Inc. increased its stake in Cohen & Steers by 17.9% in the second quarter. Schwab Charles Investment Management Inc. now owns 99,872 shares of the company’s stock worth $4,039,000 after buying an additional 15,163 shares during the last quarter. Legal & General Group Plc increased its stake in Cohen & Steers by 20.5% in the second quarter. Legal & General Group Plc now owns 4,078 shares of the company’s stock worth $162,000 after buying an additional 695 shares during the last quarter. Metropolitan Life Insurance Co. NY increased its stake in Cohen & Steers by 1.6% in the second quarter. Metropolitan Life Insurance Co. NY now owns 14,543 shares of the company’s stock worth $588,000 after buying an additional 236 shares during the last quarter. Finally, FDx Advisors Inc. increased its stake in Cohen & Steers by 113.7% in the second quarter. FDx Advisors Inc. now owns 27,227 shares of the company’s stock worth $1,101,000 after buying an additional 14,488 shares during the last quarter. Institutional investors own 44.35% of the company’s stock.
Cohen & Steers Company Profile
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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