Cohen & Steers, Inc. (NYSE:CNS) – Equities researchers at Gabelli lowered their FY2022 earnings estimates for shares of Cohen & Steers in a report issued on Friday. Gabelli analyst M. Sykes now forecasts that the asset manager will earn $3.15 per share for the year, down from their prior forecast of $3.35. Gabelli has a “Hold” rating and a $54.00 price objective on the stock.
Other analysts have also recently issued research reports about the stock. Keefe, Bruyette & Woods cut shares of Cohen & Steers from a “market perform” rating to an “underperform” rating in a research note on Friday. Zacks Investment Research cut shares of Cohen & Steers from a “buy” rating to a “hold” rating in a research note on Wednesday, December 20th. Bank of America raised their price objective on shares of Cohen & Steers from $35.00 to $38.00 and gave the company an “underperform” rating in a research note on Friday, October 20th. Finally, Credit Suisse Group raised their price objective on shares of Cohen & Steers from $41.00 to $43.00 and gave the company a “neutral” rating in a research note on Friday, October 20th. Three research analysts have rated the stock with a sell rating, two have issued a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $47.50.
Cohen & Steers (NYSE:CNS) last released its earnings results on Wednesday, January 24th. The asset manager reported $0.55 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.54 by $0.01. Cohen & Steers had a net margin of 24.31% and a return on equity of 33.38%. The company had revenue of $99.40 million during the quarter, compared to analysts’ expectations of $98.08 million. During the same quarter last year, the business earned $0.48 EPS. The business’s revenue was up 11.2% on a year-over-year basis.
Institutional investors and hedge funds have recently made changes to their positions in the business. Cubist Systematic Strategies LLC acquired a new position in Cohen & Steers during the second quarter worth about $183,000. Citadel Advisors LLC acquired a new position in Cohen & Steers during the third quarter worth about $215,000. Los Angeles Capital Management & Equity Research Inc. acquired a new position in Cohen & Steers during the third quarter worth about $251,000. PEAK6 Investments L.P. acquired a new position in Cohen & Steers during the third quarter worth about $262,000. Finally, Prudential Financial Inc. raised its position in Cohen & Steers by 29.4% during the second quarter. Prudential Financial Inc. now owns 6,640 shares of the asset manager’s stock worth $269,000 after acquiring an additional 1,510 shares during the last quarter. Institutional investors own 44.35% of the company’s stock.
In related news, Director Peter L. Rhein sold 4,729 shares of the firm’s stock in a transaction dated Tuesday, December 5th. The shares were sold at an average price of $44.60, for a total value of $210,913.40. Following the completion of the sale, the director now owns 26,271 shares in the company, valued at $1,171,686.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 52.90% of the stock is owned by company insiders.
About Cohen & Steers
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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