Cohen & Steers (NYSE:CNS) Posts Earnings Results, Beats Expectations By $0.02 EPS

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Cohen & Steers (NYSE:CNS) released its quarterly earnings data on Wednesday, October 17th. The asset manager reported $0.64 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.02, Briefing.com reports. The company had revenue of $98.30 million for the quarter, compared to analyst estimates of $99.05 million. Cohen & Steers had a net margin of 28.13% and a return on equity of 39.38%. Cohen & Steers’s revenue for the quarter was up 1.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.55 EPS.

Shares of CNS stock traded down $1.28 during midday trading on Friday, hitting $38.56. 115,635 shares of the company were exchanged, compared to its average volume of 161,642. The company has a market capitalization of $1.79 billion, a price-to-earnings ratio of 18.63, a PEG ratio of 1.69 and a beta of 1.09. Cohen & Steers has a 52 week low of $35.50 and a 52 week high of $47.83.

The business also recently announced a quarterly dividend, which will be paid on Monday, December 3rd. Investors of record on Monday, November 19th will be issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 3.42%. The ex-dividend date of this dividend is Friday, November 16th. Cohen & Steers’s payout ratio is 63.77%.

Several research analysts have recently weighed in on the stock. Zacks Investment Research upgraded shares of Cohen & Steers from a “hold” rating to a “buy” rating and set a $47.00 price objective on the stock in a research note on Tuesday, September 18th. ValuEngine raised shares of Cohen & Steers from a “sell” rating to a “hold” rating in a report on Thursday, July 26th. Finally, Credit Suisse Group reduced their target price on shares of Cohen & Steers from $42.00 to $41.00 and set a “neutral” rating for the company in a report on Friday, July 20th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $44.50.

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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.

Read More: Balance Sheet

Earnings History for Cohen & Steers (NYSE:CNS)

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