Cohen & Steers Inc. (CNS) Issues Earnings Results, Hits Estimates
Cohen & Steers Inc. (NYSE:CNS) posted its earnings results on Wednesday. The company reported $0.51 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.51. The company had revenue of $94.39 million for the quarter, compared to analysts’ expectations of $1.02 million. Cohen & Steers had a return on equity of 30.80% and a net margin of 20.12%.
Cohen & Steers (NYSE:CNS) traded up 0.44% during trading on Wednesday, hitting $38.74. 127,034 shares of the stock traded hands. The firm has a 50-day moving average price of $41.61 and a 200 day moving average price of $40.78. Cohen & Steers has a 12 month low of $26.72 and a 12 month high of $43.83. The firm has a market cap of $1.78 billion, a PE ratio of 26.32 and a beta of 1.12.
The firm also recently announced a quarterly dividend, which was paid on Thursday, September 22nd. Stockholders of record on Thursday, September 1st were issued a dividend of $0.26 per share. The ex-dividend date was Tuesday, August 30th. This represents a $1.04 annualized dividend and a dividend yield of 2.68%. Cohen & Steers’s payout ratio is 73.24%.
Several research firms recently issued reports on CNS. Zacks Investment Research raised Cohen & Steers from a “sell” rating to a “hold” rating in a research note on Tuesday, July 19th. Credit Suisse Group AG started coverage on shares of Cohen & Steers in a report on Thursday, July 14th. They issued a “neutral” rating and a $42.00 price objective for the company. Finally, Keefe, Bruyette & Woods set a $45.00 price objective on shares of Cohen & Steers and gave the stock a “hold” rating in a report on Friday, October 14th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $44.40.
A number of institutional investors have recently modified their holdings of CNS. Barclays PLC bought a new position in shares of Cohen & Steers during the second quarter worth approximately $118,000. Parametric Portfolio Associates LLC increased its position in shares of Cohen & Steers by 3.8% in the second quarter. Parametric Portfolio Associates LLC now owns 17,511 shares of the company’s stock worth $708,000 after buying an additional 646 shares in the last quarter. Rhumbline Advisers increased its position in shares of Cohen & Steers by 1.7% in the second quarter. Rhumbline Advisers now owns 39,806 shares of the company’s stock worth $1,610,000 after buying an additional 656 shares in the last quarter. FMR LLC increased its position in shares of Cohen & Steers by 52.7% in the second quarter. FMR LLC now owns 232,600 shares of the company’s stock worth $9,406,000 after buying an additional 80,300 shares in the last quarter. Finally, American International Group Inc. increased its position in shares of Cohen & Steers by 1.3% in the second quarter. American International Group Inc. now owns 12,028 shares of the company’s stock worth $486,000 after buying an additional 154 shares in the last quarter. Institutional investors own 44.35% of the company’s stock.
About Cohen & Steers
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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