Gabelli Equities Analysts Decrease Earnings Estimates for Cohen & Steers Inc. (CNS)
Cohen & Steers Inc. (NYSE:CNS) – Stock analysts at Gabelli reduced their Q4 2016 earnings per share estimates for shares of Cohen & Steers in a report issued on Wednesday. Gabelli analyst M. Sykes now anticipates that the firm will post earnings per share of $0.52 for the quarter, down from their prior estimate of $0.54. Gabelli also issued estimates for Cohen & Steers’ FY2017 earnings at $2.25 EPS, FY2018 earnings at $2.50 EPS, FY2019 earnings at $2.80 EPS and FY2020 earnings at $3.10 EPS.
Cohen & Steers (NYSE:CNS) last released its quarterly earnings data on Wednesday, July 20th. The company reported $0.46 earnings per share for the quarter, missing the consensus estimate of $0.49 by $0.03. The business had revenue of $86.40 million for the quarter, compared to analyst estimates of $86.12 million. Cohen & Steers had a return on equity of 30.80% and a net margin of 20.12%. Cohen & Steers’s revenue was up 3.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.45 EPS.
Other research analysts also recently issued research reports about the stock. Credit Suisse Group AG set a $42.00 price target on shares of Cohen & Steers and gave the company a “hold” rating in a report on Sunday, September 18th. Zacks Investment Research downgraded shares of Cohen & Steers from a “hold” rating to a “sell” rating in a report on Wednesday, June 29th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $44.25.
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Cohen & Steers (NYSE:CNS) traded down 1.04% during midday trading on Thursday, reaching $38.83. 61,137 shares of the company traded hands. The firm’s 50 day moving average price is $42.09 and its 200 day moving average price is $40.76. The firm has a market capitalization of $1.78 billion, a price-to-earnings ratio of 26.38 and a beta of 1.12. Cohen & Steers has a 12 month low of $25.84 and a 12 month high of $43.83.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Aperio Group LLC raised its stake in Cohen & Steers by 1.6% in the first quarter. Aperio Group LLC now owns 7,546 shares of the company’s stock valued at $294,000 after buying an additional 118 shares in the last quarter. American International Group Inc. raised its stake in Cohen & Steers by 1.3% in the second quarter. American International Group Inc. now owns 12,028 shares of the company’s stock valued at $486,000 after buying an additional 154 shares in the last quarter. Metropolitan Life Insurance Co. NY raised its stake in Cohen & Steers by 1.6% in the second quarter. Metropolitan Life Insurance Co. NY now owns 14,543 shares of the company’s stock valued at $588,000 after buying an additional 236 shares in the last quarter. Eagle Boston Investment Management Inc. raised its stake in Cohen & Steers by 1.0% in the third quarter. Eagle Boston Investment Management Inc. now owns 31,601 shares of the company’s stock valued at $1,350,000 after buying an additional 327 shares in the last quarter. Finally, Teacher Retirement System of Texas raised its stake 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 in the last quarter. Institutional investors and hedge funds own 44.35% of the company’s stock.
The company also recently announced a quarterly dividend, which was paid on Thursday, September 22nd. Investors of record on Thursday, September 1st were paid a $0.26 dividend. The ex-dividend date of this dividend was Tuesday, August 30th. This represents a $1.04 dividend on an annualized basis and a yield of 2.65%. Cohen & Steers’s payout ratio is presently 73.24%.
Cohen & Steers Company Profile
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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