Cohen & Steers (NYSE:CNS) Given “Buy” Rating at Evercore ISI

Evercore ISI reiterated their buy rating on shares of Cohen & Steers (NYSE:CNS) in a research report released on Wednesday morning, reports. The firm currently has a $65.00 target price on the asset manager’s stock.

A number of other research analysts also recently issued reports on CNS. Zacks Investment Research upgraded Cohen & Steers from a sell rating to a hold rating and set a $57.00 price objective for the company in a research note on Tuesday, August 27th. ValuEngine downgraded Cohen & Steers from a buy rating to a hold rating in a research note on Thursday, August 1st. One analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and a consensus price target of $50.00.

NYSE:CNS traded down $0.30 during trading on Wednesday, reaching $65.49. The company’s stock had a trading volume of 210,135 shares, compared to its average volume of 215,562. The firm has a market cap of $3.13 billion, a price-to-earnings ratio of 27.29, a price-to-earnings-growth ratio of 3.23 and a beta of 0.90. The firm has a 50 day moving average of $60.65 and a 200-day moving average of $54.04. Cohen & Steers has a 12 month low of $32.95 and a 12 month high of $68.01.

Cohen & Steers (NYSE:CNS) last announced its quarterly earnings data on Wednesday, October 16th. The asset manager reported $0.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.02. The firm had revenue of $104.97 million during the quarter, compared to the consensus estimate of $102.42 million. Cohen & Steers had a return on equity of 46.35% and a net margin of 31.26%. The business’s revenue for the quarter was up 6.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.64 EPS. Equities analysts forecast that Cohen & Steers will post 2.51 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 3rd. Stockholders of record on Monday, November 18th will be paid a dividend of $2.00 per share. This is an increase from Cohen & Steers’s previous quarterly dividend of $0.76. The ex-dividend date is Friday, November 15th. This represents a $8.00 annualized dividend and a dividend yield of 12.22%. Cohen & Steers’s dividend payout ratio is presently 60.00%.

In other news, CAO Elena Dulik sold 1,000 shares of the stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $54.54, for a total transaction of $54,540.00. Following the completion of the transaction, the chief accounting officer now owns 18,478 shares in the company, valued at approximately $1,007,790.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 50.63% of the stock is currently owned by corporate insiders.

Hedge funds have recently bought and sold shares of the company. Quest Capital Management Inc. ADV bought a new position in shares of Cohen & Steers during the 3rd quarter worth $28,000. Advisors Preferred LLC purchased a new stake in Cohen & Steers during the 2nd quarter worth about $37,000. Pearl River Capital LLC purchased a new stake in Cohen & Steers during the 2nd quarter worth about $50,000. Smith Asset Management Group LP purchased a new stake in Cohen & Steers during the 2nd quarter worth about $130,000. Finally, Point72 Asset Management L.P. purchased a new stake in Cohen & Steers during the 2nd quarter worth about $154,000. Institutional investors own 47.17% of the company’s stock.

Cohen & Steers Company Profile

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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