Cowen Inc (NASDAQ:COWN) – Investment analysts at Piper Sandler decreased their Q3 2020 EPS estimates for Cowen in a research note issued to investors on Tuesday, July 28th. Piper Sandler analyst S. Mody now expects that the financial services provider will post earnings per share of $0.18 for the quarter, down from their previous estimate of $0.61. Piper Sandler currently has a “Overweight” rating and a $22.00 target price on the stock. Piper Sandler also issued estimates for Cowen’s Q4 2020 earnings at $0.84 EPS, FY2020 earnings at $6.53 EPS, Q1 2021 earnings at $1.00 EPS, Q2 2021 earnings at $1.05 EPS, Q3 2021 earnings at $0.99 EPS, Q4 2021 earnings at $1.27 EPS and FY2021 earnings at $4.32 EPS.
A number of other brokerages have also recently issued reports on COWN. Wolfe Research initiated coverage on Cowen in a research report on Wednesday, July 22nd. They set an “outperform” rating and a $20.00 target price for the company. TheStreet raised Cowen from a “d+” rating to a “c-” rating in a research report on Monday, July 6th. ValuEngine lowered Cowen from a “sell” rating to a “strong sell” rating in a report on Tuesday, July 14th. BidaskClub upgraded Cowen from a “buy” rating to a “strong-buy” rating in a report on Saturday, June 6th. Finally, Zacks Investment Research upgraded Cowen from a “hold” rating to a “strong-buy” rating and set a $19.00 price target for the company in a report on Friday. One research analyst has rated the stock with a sell rating, four have given a buy rating and two have given a strong buy rating to the stock. Cowen currently has an average rating of “Buy” and an average target price of $19.60.
Cowen (NASDAQ:COWN) last announced its earnings results on Tuesday, July 28th. The financial services provider reported $5.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.51 by $1.18. The firm had revenue of $369.54 million during the quarter, compared to analysts’ expectations of $523.90 million. Cowen had a return on equity of 20.68% and a net margin of 9.74%.
Several hedge funds and other institutional investors have recently modified their holdings of COWN. Citigroup Inc. lifted its stake in Cowen by 52.5% in the first quarter. Citigroup Inc. now owns 8,823 shares of the financial services provider’s stock valued at $85,000 after buying an additional 3,039 shares during the period. BNP Paribas Arbitrage SA raised its holdings in shares of Cowen by 47.6% during the 1st quarter. BNP Paribas Arbitrage SA now owns 8,757 shares of the financial services provider’s stock worth $85,000 after buying an additional 2,824 shares in the last quarter. SG Americas Securities LLC acquired a new position in shares of Cowen during the 1st quarter worth $98,000. Wolverine Trading LLC bought a new stake in Cowen during the 1st quarter worth $123,000. Finally, Two Sigma Investments LP bought a new stake in shares of Cowen in the 1st quarter valued at about $412,000. Institutional investors and hedge funds own 88.48% of the company’s stock.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be paid a $0.04 dividend. The ex-dividend date of this dividend is Monday, August 31st. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.97%. Cowen’s payout ratio is 7.24%.
Cowen Inc is a publicly owned asset management holding company. Through its subsidiaries, the firm provides alternative investment management, investment banking, research, and sales and trading services for its clients. It manages separate client focused portfolio through its subsidiaries. Through its subsidiaries, the firm invests in equity and fixed income markets.
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