Cohen & Steers (NYSE:CNS) Announces Earnings Results, Beats Estimates By $0.03 EPS

Cohen & Steers (NYSE:CNS) announced its quarterly earnings data on Wednesday. The asset manager reported $0.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.74 by $0.03, Briefing.com reports. The firm had revenue of $133.20 million for the quarter, compared to the consensus estimate of $124.18 million. Cohen & Steers had a net margin of 26.21% and a return on equity of 34.08%. The business’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.70 earnings per share.

Cohen & Steers Price Performance

Shares of NYSE:CNS traded up $0.65 on Friday, hitting $106.00. The company’s stock had a trading volume of 140,037 shares, compared to its average volume of 223,689. The company has a 50-day simple moving average of $90.81 and a 200 day simple moving average of $79.59. The company has a market capitalization of $5.36 billion, a PE ratio of 40.99 and a beta of 1.54. Cohen & Steers has a 1 year low of $50.05 and a 1 year high of $110.67.

Cohen & Steers Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 22nd. Investors of record on Monday, August 12th were paid a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 2.23%. The ex-dividend date was Monday, August 12th. Cohen & Steers’s dividend payout ratio is 91.83%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on CNS shares. UBS Group upgraded shares of Cohen & Steers from a “sell” rating to a “neutral” rating and raised their price target for the company from $63.00 to $102.00 in a research note on Thursday. Evercore ISI boosted their target price on shares of Cohen & Steers from $92.00 to $96.00 and gave the stock an “outperform” rating in a research report on Friday, October 4th.

Insider Transactions at Cohen & Steers

In other news, EVP Jon Cheigh sold 12,500 shares of the company’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $84.08, for a total value of $1,051,000.00. Following the completion of the transaction, the executive vice president now directly owns 155,311 shares in the company, valued at approximately $13,058,548.88. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Cohen & Steers news, EVP Jon Cheigh sold 12,500 shares of the stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $84.08, for a total value of $1,051,000.00. Following the completion of the transaction, the executive vice president now owns 155,311 shares in the company, valued at approximately $13,058,548.88. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Richard P. Simon sold 7,000 shares of the firm’s stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $80.61, for a total value of $564,270.00. Following the transaction, the director now directly owns 15,660 shares of the company’s stock, valued at approximately $1,262,352.60. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 20,600 shares of company stock valued at $1,710,365. Insiders own 47.60% of the company’s stock.

Cohen & Steers Company Profile

Cohen & Steers, Inc is a publicly owned asset management holding company. Through its subsidiaries, the firm provides its services to institutional investors, including pension funds, endowments, and foundations. It manages separate client-focused equity, fixed income, multi-asset, and commodity portfolios through its subsidiaries.