Cohen & Steers (NYSE:CNS) Announces Quarterly Earnings Results

Cohen & Steers (NYSE:CNS) issued its quarterly earnings results on Wednesday. The asset manager reported $0.78 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.80 by ($0.02), Zacks reports. Cohen & Steers had a return on equity of 32.75% and a net margin of 27.23%.

Cohen & Steers Stock Performance

Shares of CNS traded down $2.69 during midday trading on Wednesday, hitting $86.51. The company had a trading volume of 376,526 shares, compared to its average volume of 201,719. The company’s 50-day simple moving average is $95.93 and its 200-day simple moving average is $92.31. Cohen & Steers has a 1 year low of $64.13 and a 1 year high of $110.67. The firm has a market capitalization of $4.37 billion, a P/E ratio of 32.28 and a beta of 1.55.

Cohen & Steers Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Monday, November 18th were paid a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 2.73%. The ex-dividend date of this dividend was Monday, November 18th. Cohen & Steers’s payout ratio is currently 88.06%.

Analyst Ratings Changes

CNS has been the topic of several research analyst reports. UBS Group upgraded Cohen & Steers from a “sell” rating to a “neutral” rating and lifted their price objective for the stock from $63.00 to $102.00 in a report on Thursday, October 17th. Evercore ISI boosted their target price on shares of Cohen & Steers from $110.00 to $111.00 and gave the company an “outperform” rating in a report on Thursday, November 7th.

About Cohen & Steers

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.