Cowen Inc. (NASDAQ:COWN – Get Rating) declared a quarterly dividend on Friday, August 5th, Wall Street Journal reports. Investors of record on Thursday, September 1st will be paid a dividend of 0.12 per share by the financial services provider on Thursday, September 15th. This represents a $0.48 dividend on an annualized basis and a yield of 1.24%. The ex-dividend date of this dividend is Wednesday, August 31st.
Cowen has a dividend payout ratio of 8.0% indicating that its dividend is sufficiently covered by earnings. Analysts expect Cowen to earn $7.53 per share next year, which means the company should continue to be able to cover its $0.48 annual dividend with an expected future payout ratio of 6.4%.
Cowen Trading Up 0.2 %
COWN traded up $0.09 during trading on Friday, reaching $38.65. The company had a trading volume of 160,682 shares, compared to its average volume of 2,045,973. The firm’s 50-day simple moving average is $28.58 and its 200 day simple moving average is $27.61. The company has a market cap of $1.07 billion, a price-to-earnings ratio of 8.44 and a beta of 1.63. Cowen has a 12-month low of $21.36 and a 12-month high of $40.86. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.71 and a current ratio of 0.71.
Institutional Investors Weigh In On Cowen
Analysts Set New Price Targets
A number of brokerages have commented on COWN. The Goldman Sachs Group decreased their price objective on Cowen from $29.00 to $25.00 and set a “sell” rating for the company in a research report on Tuesday, April 12th. Wolfe Research lowered Cowen from an “outperform” rating to a “peer perform” rating in a research report on Tuesday. JMP Securities lowered Cowen from an “outperform” rating to a “market perform” rating in a research report on Tuesday. TheStreet lowered Cowen from a “b-” rating to a “c” rating in a research report on Friday, April 29th. Finally, Piper Sandler lowered Cowen from an “overweight” rating to a “neutral” rating in a research report on Thursday. Two research analysts have rated the stock with a sell rating and three have issued a hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $47.33.
Cowen Company Profile
Cowen Inc, together with its subsidiaries, provides investment banking, research, sales and trading, prime brokerage, global clearing, securities financing, commission management, and investment management services in the United States and internationally. It operates in two segments, Operating Company (Op Co) and Asset Company (Asset Co).
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