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Cohen & Steers, Inc. (CNS)
NYSE:CNS
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Cohen & Steers
(NYSE:CNS)
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Rating:60Neutral
Price Target:
$73.00
▲(3.66% Upside)
Cohen & Steers' overall stock score is primarily influenced by its strong financial performance, despite cash flow challenges. The technical analysis indicates bearish momentum, which negatively impacts the score. Valuation is moderate, with a reasonable P/E ratio and attractive dividend yield, but not enough to offset the technical weaknesses.
Positive Factors
Revenue Growth
Consistent revenue growth indicates strong market demand and effective business strategies, supporting long-term financial stability.
Strong Investment Performance
Outperformance of AUM against benchmarks enhances reputation and attracts more investors, driving future AUM growth and revenue.
Balance Sheet Health
A low debt-to-equity ratio suggests financial stability and flexibility, enabling the company to invest in growth opportunities.
Negative Factors
Cash Flow Challenges
Negative cash flow indicates potential liquidity issues, which could limit the company's ability to fund operations and growth initiatives.
Increased Expenses
Rising expenses can pressure profit margins, reducing profitability and potentially impacting long-term financial performance.
Net Outflows in Institutional Segments
Net outflows in key segments can hinder AUM growth, affecting revenue and market position in the competitive asset management industry.
Cohen & Steers (CNS) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$3.55B
Dividend Yield3.92%
Average Volume (3M)480.46K
Price to Earnings (P/E)21.9
Beta (1Y)0.71
Revenue Growth12.73%
EPS Growth19.01%
CountryUS
Employees411
SectorFinancial
Sector Strength70
IndustryAsset Management
Share Statistics
EPS (TTM)0.81
Shares Outstanding51,007,540
10 Day Avg. Volume399,996
30 Day Avg. Volume480,463
Financial Highlights & Ratios
PEG Ratio2.12
Price to Book (P/B)9.10
Price to Sales (P/S)9.00
P/FCF Ratio54.74
Enterprise Value/Market Cap1.10
Enterprise Value/Revenue6.90
Enterprise Value/Gross Profit13.92
Enterprise Value/Ebitda18.06
Forecast
1Y Price Target
$70.00Price Target Upside-0.60% Downside
Rating ConsensusHold
Number of Analyst Covering2
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Cohen & Steers Business Overview & Revenue Model
Company DescriptionCohen & 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. The firm launches and manages equity, fixed income, balanced, and multi-asset mutual funds through its subsidiaries. Through its subsidiaries, it also launches and manages hedge funds. The firm invests in public equity, fixed income, and commodity markets across the globe through its subsidiaries. Through its subsidiaries, it invests in companies operating in the real estate sector, including real estate investment trusts, infrastructure sector, and natural energy resources sector for its equity and fixed income investments. The firm also invests in preferred securities for its fixed income investments through its subsidiaries. Cohen & Steers, Inc. was founded in 1986 and is based in New York, with additional offices in London, United Kingdom; Central, Hong Kong; Tokyo, Japan; and Seattle, Washington.
How the Company Makes MoneyCohen & Steers generates revenue primarily through investment management fees charged to clients for managing their assets. These fees typically include a management fee based on a percentage of assets under management (AUM) and, in some cases, performance fees based on investment performance. Key revenue streams come from their various investment products, including mutual funds and separate accounts. Additionally, the firm may earn performance fees if their funds exceed certain benchmarks. Significant partnerships with institutional investors and financial advisors further contribute to their earnings by expanding their distribution channels and reaching a broader client base.
Cohen & Steers Earnings Call Summary
Earnings Call Date:Jul 17, 2025
(Q2-2025)
| % Change Since: |
Next Earnings Date:Jan 22, 2026
Earnings Call Sentiment Neutral
The quarter showcased strong investment performance and successful new product launches, but was tempered by a slight decline in earnings per share and increased expenses. Net inflows in open-end funds and improved liquidity were positive, though institutional and sub-advisory segments saw net outflows.Q2-2025 Updates
Positive Updates
Strong Investment Performance
89% of AUM outperformed its benchmark in the second quarter. On a 1-year basis, 94% of AUM outperformed, with 3-, 5-, and 10-year outperformance rates all above 95%.
Positive Net Inflows in Open-End Funds
Open-end funds experienced $285 million in net inflows, marking the fourth consecutive quarter of positive net flows.
Successful Launch of Active ETFs
Active ETFs recorded $54 million in net inflows in their first full quarter, with total AUM now $133 million.
Improved Liquidity and Cash Position
Liquidity totaled $323 million at quarter end, an increase from $295 million in the prior quarter.
Negative Updates
Slight Decline in Earnings Per Share
Earnings per share decreased to $0.73 from $0.75 sequentially.
Higher Total Expenses
Total expenses in Q2 were 2.9% higher than the prior quarter due to increased compensation, benefits, and business development activities.
Net Outflows in Institutional and Sub-Advisory Segments
Net outflows of $131 million after three consecutive quarters of inflows, driven by $412 million in advisory outflows and $107 million in sub-advisory outflows.
Company Guidance
During the Cohen & Steers Second Quarter 2025 Earnings Conference Call, the company provided guidance for 2025, expecting the compensation ratio to remain at 40.5%, consistent with prior guidance. They anticipate full-year General and Administrative (G&A) expenses to increase by 7% to 8% compared to 2024, driven by talent acquisition costs and business development activities, including expenses related to launching active ETFs and foreign office upgrades. The effective tax rate is expected to stay at 25.3% on an as-adjusted basis. Additionally, Cohen & Steers remains focused on expense management while continuing selective investments, projecting that annual G&A changes will moderate to a mid-single-digit percentage range post-2025.Cohen & Steers Financial Statement Overview
Summary
Cohen & Steers demonstrates strong profitability with a solid revenue growth trend and stable balance sheet. However, challenges in cash flow management, particularly negative operating cash flow, indicate potential liquidity issues.Income Statement
Cohen & Steers shows a solid financial performance with a consistent revenue growth rate of 3.87% TTM, indicating a positive trend. The gross profit margin of 49.05% and net profit margin of 28.94% TTM reflect strong profitability. However, the slight decline in margins compared to previous years suggests potential cost pressures.78
Positive
Balance Sheet
The company's balance sheet is stable with a manageable debt-to-equity ratio of 0.27 TTM, indicating low leverage. The return on equity of 31.80% TTM demonstrates efficient use of equity. However, the equity ratio of 70.34% suggests a moderate reliance on equity financing.72
Positive
Cash Flow
Cohen & Steers faces challenges in cash flow management, with a negative operating cash flow and free cash flow TTM. The free cash flow growth rate of 379.70% TTM is a positive sign, but the negative operating cash flow coverage ratio indicates potential liquidity issues.65
Positive
| Breakdown | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 565.63M | 517.42M | 489.64M | 573.72M | 583.83M | 430.90M |
| Gross Profit | 280.19M | 242.30M | 235.29M | 281.96M | 312.50M | 159.36M |
| EBITDA | 216.06M | 203.39M | 169.62M | 228.42M | 279.31M | 114.69M |
| Net Income | 162.12M | 151.26M | 129.05M | 171.04M | 211.40M | 76.58M |
Balance Sheet | ||||||
| Total Assets | 751.02M | 812.37M | 736.55M | 673.38M | 492.69M | 348.45M |
| Cash, Cash Equivalents and Short-Term Investments | 230.12M | 309.93M | 265.44M | 262.71M | 208.08M | 41.23M |
| Total Debt | 141.56M | 141.12M | 140.41M | 138.81M | 24.52M | 34.93M |
| Total Liabilities | 208.70M | 237.46M | 243.91M | 246.44M | 148.36M | 123.55M |
| Stockholders Equity | 528.50M | 511.71M | 381.23M | 337.55M | 255.18M | 174.24M |
Cash Flow | ||||||
| Free Cash Flow | -122.43M | 85.04M | 114.97M | 57.46M | 240.21M | 86.68M |
| Operating Cash Flow | -116.13M | 96.69M | 171.96M | 61.68M | 242.90M | 89.19M |
| Investing Cash Flow | -11.44M | -119.71M | -114.78M | -2.86M | 47.65M | -1.77M |
| Financing Cash Flow | 99.93M | 18.17M | -119.05M | 8.97M | -145.43M | -148.90M |
Cohen & Steers Technical Analysis
Positive
70.42
Price Trends
63.98
Positive
66.35
Positive
70.56
Negative
Market Momentum
1.47
Negative
72.59
Negative
86.28
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For CNS, the sentiment is Positive. The current price of 70.42 is above the 20-day moving average (MA) of 65.13, above the 50-day MA of 63.98, and below the 200-day MA of 70.56, indicating a neutral trend. The MACD of 1.47 indicates Negative momentum. The RSI at 72.59 is Negative, neither overbought nor oversold. The STOCH value of 86.28 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for CNS.
Cohen & Steers Risk Analysis
Cohen & Steers disclosed 27 risk factors in its most recent earnings report. Cohen & Steers reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Cohen & Steers Peers Comparison
UnderperformOutperform
Sector (68)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
79 Outperform | $3.42B | 10.96 | 15.21% | 10.00% | -15.32% | -12.29% | |
77 Outperform | $4.36B | 17.15 | 16.46% | 3.00% | 33.03% | -3.55% | |
75 Outperform | $3.59B | 12.36 | 62.04% | 8.72% | 5.46% | 2.10% | |
73 Outperform | $3.57B | 12.93 | 19.77% | 8.93% | ― | -12.92% | |
72 Outperform | $4.14B | 11.17 | 32.06% | 2.46% | 9.32% | 53.51% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
60 Neutral | $3.55B | 21.86 | 31.53% | 3.92% | 12.73% | 19.01% |
* Financial Sector Average
CNS
Cohen & Steers
70.42
-15.93
-18.45%
AB
AllianceBernstein
40.17
3.75
10.30%
FHI
Federated Hermes
54.37
17.15
46.08%
HTGC
Hercules Capital
18.91
0.05
0.27%
APAM
Artisan Partners
44.31
3.87
9.57%
VCTR
Victory Capital Holdings
67.87
2.24
3.41%
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.