Cohen & Steers Inc. (CNS) Stock Rating Upgraded by Zacks Investment Research
Cohen & Steers Inc. (NYSE:CNS) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Tuesday.
According to Zacks, “Cohen & Steers, Inc. is a leading manager of income-oriented equity portfolios and specializes in common and preferred stocks of REITs and utilities, as well as other preferred securities. Based in New York City, the firm serves individual and institutional investors through a wide range of open-end funds, closed-end funds and separate accounts. “
Separately, Credit Suisse Group AG initiated coverage on shares of Cohen & Steers in a report on Thursday, July 14th. They issued a “neutral” rating and a $42.00 target price on the stock. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $43.75.
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Cohen & Steers (NYSE:CNS) traded down 1.32% during midday trading on Tuesday, hitting $41.76. The stock had a trading volume of 60,169 shares. The company has a market cap of $1.92 billion, a PE ratio of 28.37 and a beta of 1.30. Cohen & Steers has a 52 week low of $25.84 and a 52 week high of $43.83. The stock’s 50 day moving average price is $42.34 and its 200-day moving average price is $39.97.
Cohen & Steers (NYSE:CNS) last announced its earnings results on Wednesday, July 20th. The company reported $0.46 EPS for the quarter, missing the consensus estimate of $0.49 by $0.03. The firm earned $86.40 million during the quarter, compared to the consensus estimate of $86.12 million. Cohen & Steers had a return on equity of 30.80% and a net margin of 20.12%. The business’s revenue was up 3.5% compared to the same quarter last year. During the same quarter last year, the business earned $0.45 EPS. Equities research analysts predict that Cohen & Steers will post $1.88 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 22nd. Stockholders of record on Thursday, September 1st will be issued a dividend of $0.26 per share. The ex-dividend date is Tuesday, August 30th. This represents a $1.04 annualized dividend and a dividend yield of 2.49%. Cohen & Steers’s payout ratio is 73.24%.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Huntington National Bank bought a new position in Cohen & Steers during the second quarter valued at about $109,000. Teacher Retirement System of Texas increased its position in Cohen & Steers by 14.0% in the second quarter. Teacher Retirement System of Texas now owns 2,862 shares of the company’s stock valued at $116,000 after buying an additional 352 shares during the last quarter. Barclays PLC bought a new position in Cohen & Steers during the second quarter valued at about $118,000. Societe Generale bought a new position in Cohen & Steers during the second quarter valued at about $124,000. Finally, SG Americas Securities LLC bought a new position in Cohen & Steers during the second quarter valued at about $124,000. Institutional investors own 44.31% 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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