Cohen & Steers (CNS) Downgraded by ValuEngine to Sell

ValuEngine cut shares of Cohen & Steers (NYSE:CNS) from a hold rating to a sell rating in a research note published on Wednesday.

Several other equities research analysts have also commented on CNS. Credit Suisse Group dropped their price objective on shares of Cohen & Steers from $42.00 to $41.00 and set a neutral rating on the stock in a research note on Friday, July 20th. Zacks Investment Research lowered shares of Cohen & Steers from a buy rating to a hold rating in a research note on Monday, July 23rd. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the company’s stock. The company has a consensus rating of Hold and an average target price of $44.50.

NYSE:CNS traded up $0.89 during mid-day trading on Wednesday, hitting $38.35. 9,843 shares of the company’s stock were exchanged, compared to its average volume of 173,930. Cohen & Steers has a one year low of $35.50 and a one year high of $47.83. The firm has a market capitalization of $1.77 billion, a P/E ratio of 18.54, a PEG ratio of 1.74 and a beta of 1.09.

Cohen & Steers (NYSE:CNS) last posted its quarterly earnings data on Wednesday, October 17th. The asset manager reported $0.64 EPS for the quarter, topping the consensus estimate of $0.62 by $0.02. Cohen & Steers had a net margin of 28.13% and a return on equity of 38.16%. The business had revenue of $98.30 million for the quarter, compared to analyst estimates of $99.05 million. During the same quarter in the previous year, the firm posted $0.55 earnings per share. Cohen & Steers’s quarterly revenue was up 1.5% on a year-over-year basis. As a group, analysts anticipate that Cohen & Steers will post 2.45 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 3rd. Investors of record on Monday, November 19th will be paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 3.44%. The ex-dividend date is Friday, November 16th. Cohen & Steers’s payout ratio is currently 63.77%.

A number of large investors have recently bought and sold shares of CNS. State of Alaska Department of Revenue purchased a new position in Cohen & Steers in the third quarter worth about $108,000. Sageworth Trust Co raised its holdings in Cohen & Steers by 500.0% in the third quarter. Sageworth Trust Co now owns 3,000 shares of the asset manager’s stock worth $122,000 after buying an additional 2,500 shares during the last quarter. Xact Kapitalforvaltning AB purchased a new position in Cohen & Steers in the second quarter worth about $202,000. MML Investors Services LLC purchased a new position in Cohen & Steers in the third quarter worth about $216,000. Finally, Leavell Investment Management Inc. purchased a new position in Cohen & Steers in the third quarter worth about $223,000. 49.16% of the stock is currently owned by institutional investors and hedge funds.

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.

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To view ValuEngine’s full report, visit ValuEngine’s official website.

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