Cowen (COWN) Issues Earnings Results, Misses Estimates By $0.69 EPS

Cowen (NASDAQ:COWN) announced its quarterly earnings results on Thursday. The financial services provider reported ($0.30) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.39 by ($0.69), Bloomberg Earnings reports. Cowen had a return on equity of 1.54% and a net margin of 2.29%. The business had revenue of $204.50 million for the quarter, compared to analyst estimates of $178.98 million. During the same quarter last year, the firm posted ($0.48) EPS. The company’s revenue was up 67.2% compared to the same quarter last year.

Shares of Cowen (COWN) traded up $0.05 during mid-day trading on Thursday, reaching $12.35. The company’s stock had a trading volume of 316,200 shares, compared to its average volume of 326,205. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.16. Cowen has a one year low of $11.75 and a one year high of $18.25. The firm has a market cap of $382.38, a price-to-earnings ratio of 34.17 and a beta of 1.44.

Hedge funds have recently made changes to their positions in the business. Jane Street Group LLC acquired a new position in Cowen during the 3rd quarter worth $196,000. Fox Run Management L.L.C. acquired a new position in Cowen during the 3rd quarter worth $205,000. Brandywine Global Investment Management LLC acquired a new position in Cowen during the 4th quarter worth $162,000. Sei Investments Co. boosted its position in Cowen by 68.7% during the 3rd quarter. Sei Investments Co. now owns 12,288 shares of the financial services provider’s stock worth $219,000 after acquiring an additional 5,004 shares during the period. Finally, Voya Investment Management LLC boosted its position in Cowen by 15.7% during the 2nd quarter. Voya Investment Management LLC now owns 13,335 shares of the financial services provider’s stock worth $217,000 after acquiring an additional 1,806 shares during the period. Institutional investors own 79.38% of the company’s stock.

COWN has been the subject of a number of analyst reports. BidaskClub upgraded Cowen from a “strong sell” rating to a “sell” rating in a research report on Friday, December 22nd. Nomura reduced their price target on Cowen from $18.00 to $16.00 and set a “neutral” rating for the company in a research report on Tuesday, October 31st.

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About Cowen

Cowen Inc, formerly Cowen Group, Inc, is a financial services company. The Company provides alternative investment management, investment banking, research, sales and trading, and prime brokerage services. It operates through two segments: alternative investment and broker-dealer. The alternative investment segment includes private equity structures, registered investment companies and listed investment vehicles.

Earnings History for Cowen (NASDAQ:COWN)

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