Zacks Investment Research Lowers Cohen & Steers Inc (CNS) to Hold
Cohen & Steers Inc (NYSE:CNS) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Friday.
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, BidaskClub upgraded shares of Cohen & Steers from a “hold” rating to a “buy” rating in a research report on Saturday, June 10th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $44.50.
Cohen & Steers (NYSE CNS) traded down 0.24% during trading on Friday, hitting $37.55. 263,673 shares of the stock were exchanged. The stock has a market cap of $1.74 billion, a P/E ratio of 18.24 and a beta of 1.55. Cohen & Steers has a 52 week low of $33.16 and a 52 week high of $43.22. The stock has a 50 day moving average of $38.90 and a 200-day moving average of $39.49.
Cohen & Steers (NYSE:CNS) last announced its quarterly earnings results on Wednesday, July 19th. The asset manager reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.49 by $0.01. Cohen & Steers had a net margin of 26.34% and a return on equity of 33.17%. The company had revenue of $92.80 million for the quarter, compared to analysts’ expectations of $92.52 million. During the same quarter in the previous year, the company earned $0.46 earnings per share. Cohen & Steers’s quarterly revenue was up 7.4% on a year-over-year basis. Equities analysts expect that Cohen & Steers will post $2.01 EPS for the current fiscal year.
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In related news, insider John Todd Glickson sold 6,700 shares of the business’s stock in a transaction dated Monday, August 14th. The shares were sold at an average price of $39.72, for a total transaction of $266,124.00. Following the sale, the insider now owns 36,738 shares of the company’s stock, valued at $1,459,233.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 52.90% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of CNS. SG Americas Securities LLC bought a new position in shares of Cohen & Steers in the first quarter worth approximately $103,000. Acadian Asset Management LLC bought a new position in shares of Cohen & Steers in the second quarter worth approximately $140,000. BNP Paribas Arbitrage SA lifted its stake in shares of Cohen & Steers by 545.9% in the second quarter. BNP Paribas Arbitrage SA now owns 3,617 shares of the asset manager’s stock worth $147,000 after buying an additional 3,057 shares in the last quarter. Cubist Systematic Strategies LLC bought a new position in shares of Cohen & Steers in the second quarter worth approximately $183,000. Finally, Prudential Financial Inc. bought a new position in shares of Cohen & Steers in the first quarter worth approximately $205,000. Hedge funds and other institutional investors own 45.36% of the company’s stock.
Cohen & Steers Company Profile
Cohen & Steers, Inc (CNS) 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.
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