Cohen & Steers (CNS) AI Stock Analysis

• Market Cap: $3.84B
• Dividend Yield: 3.26%
• Average Volume (3M): 223.25K
• Price to Earnings (P/E): 23.9
• Beta (1Y): 0.94
• Revenue Growth: 12.95%
• EPS Growth: 23.72%
• Country: US
• Employees: 411
• Sector: Financial
• Sector Strength: 70
• Industry: Asset Management
• EPS (TTM): 0.73
• Shares Outstanding: 50,996,660
• 10 Day Avg. Volume: 207,778
• 30 Day Avg. Volume: 223,255
• PEG Ratio: N/A
• Price to Book (P/B): 0.00
• Price to Sales (P/S): 0.00
• P/FCF Ratio: 0.00
• Enterprise Value/Market Cap: 1.03
• Enterprise Value/Revenue: 7.23
• Enterprise Value/Gross Profit: 12.40
• Enterprise Value/Ebitda: 19.44
• 1Y Price Target: $76.00
• Price Target Upside: -2.51% Downside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 3

• Rating: 71 Outperform
• Price Target: $83.00 ▲(6.46% Upside)

Cohen & Steers' overall score is driven by strong financial performance and profitability, tempered by cash flow issues and technical indicators suggesting bearish momentum. The earnings call provided mixed signals with strong investment performance but highlighted financial challenges.

Positive Factors

Investment Performance

CNS has consistently achieved strong investment performance across its strategies, which positions it favorably once real estate flows improve.

Product Development

CNS's newly built out active ETF infrastructure positions it well for future launches, with new products expected in the active ETF vehicle, including in infrastructure and energy.

Negative Factors

Financial Results

CNS reported soft financial results which included negative net flows primarily driven from outflows in preferred securities.

Fundraising Challenges

Continued fundraising challenges in real estate and the prospects for slowing US GDP growth and high interest rates are key headwinds.

Operational Costs

Management raised the G&A growth guidance, indicating higher-than-expected general and administrative expenses.

Cohen & Steers Business Overview & Revenue Model

Company Description

Cohen & Steers, Inc. (CNS) is a leading global investment management firm specializing in real assets, including real estate, infrastructure, and natural resources. Founded in 1986, the company offers a range of investment solutions, including mutual funds, closed-end funds, and separate accounts, catering to institutional and retail investors. With a commitment to delivering superior investment performance, Cohen & Steers focuses on fundamental research and active management to capitalize on opportunities in the real asset sector.

How the Company Makes Money

Cohen & Steers generates revenue primarily through investment management fees, which are charged as a percentage of assets under management (AUM). The company earns management fees from its various investment products, including mutual funds and closed-end funds, as well as separate accounts for institutional clients. Additionally, performance fees may be applied in certain investment vehicles based on the fund's performance relative to benchmarks. Significant partnerships with financial advisors and broker-dealers also enhance distribution capabilities, contributing to AUM growth and, consequently, revenue. The firm’s focus on real assets provides a competitive edge, particularly in inflationary environments, leading to increased demand for its specialized investment strategies.

Cohen & Steers Financial Statement Overview

Summary

Cohen & Steers exhibits strong profitability with robust margins and a commendable return on equity, supported by a debt-free balance sheet. Despite some challenges in cash flow generation, overall financial health remains strong.

Income Statement

Cohen & Steers shows a strong gross profit margin of 57.85% for 2024, indicating efficient cost management. The net profit margin improved to 29.23% from the previous year, suggesting enhanced profitability. However, revenue growth from 2023 to 2024 was modest at 5.67%, which is below the industry average. EBIT and EBITDA margins are robust at 33.42% and 40.07%, respectively, which signal operational efficiency.

Balance Sheet

The company maintains a strong balance sheet with a debt-to-equity ratio of 0, indicating no debt burden and strong financial stability. The return on equity improved to 29.56% in 2024, reflecting excellent shareholder returns. The equity ratio is solid at 62.99%, showcasing a strong equity base relative to total assets.

Cash Flow

Cohen & Steers experienced a decline in operating cash flow, yet maintains a healthy free cash flow to net income ratio of 0.56. The free cash flow growth rate from 2023 to 2024 was negative, indicating a reduction in cash generation. Nevertheless, the company has a solid operating cash flow to net income ratio of 0.64, reflecting good cash-generating efficiency relative to profit.

Breakdown	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	517.42M	489.64M	566.91M	583.83M	427.54M
Gross Profit	242.30M	235.29M	275.15M	312.50M	156.50M
EBITDA	203.39M	184.24M	228.42M	279.31M	114.69M
Net Income	151.26M	129.05M	171.04M	211.40M	76.58M
Balance Sheet
Total Assets	812.37M	736.55M	673.38M	492.69M	348.45M
Cash, Cash Equivalents and Short-Term Investments	309.93M	265.44M	262.71M	184.37M	41.23M
Total Debt	141.12M	140.41M	138.81M	24.52M	34.93M
Total Liabilities	237.46M	243.91M	246.44M	148.36M	123.55M
Stockholders Equity	511.71M	381.23M	337.55M	255.18M	174.24M
Cash Flow
Free Cash Flow	85.04M	114.97M	57.46M	240.21M	86.68M
Operating Cash Flow	96.69M	171.96M	61.68M	242.90M	89.19M
Investing Cash Flow	-119.71M	-114.78M	-2.86M	47.65M	-1.77M
Financing Cash Flow	18.17M	-119.05M	8.97M	-145.43M	-148.90M

Cohen & Steers Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 77.96
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

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 77.96 is above the 20-day moving average (MA) of 73.92, above the 50-day MA of 74.97, and below the 200-day MA of 82.99, indicating a neutral trend. The MACD of -0.09 indicates Negative momentum. The RSI at 61.52 is Neutral, neither overbought nor oversold. The STOCH value of 77.84 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for CNS.

Cohen & Steers Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
FHI	82 Outperform	$4.05B	11.59	32.69%	2.49%	5.92%	54.93%
VCTR	81 Outperform	$4.85B	17.94	15.59%	2.52%	19.81%	12.83%
AMG	79 Outperform	$6.24B	16.53	13.47%	0.02%	-5.87%	-21.51%
AB	76 Outperform	$4.44B	11.95	18.55%	8.23%	―	16.78%
MAIN	74 Outperform	$5.96B	10.98	19.65%	6.20%	28.32%	13.63%
CNS	71 Outperform	$3.84B	23.94	32.70%	3.26%	12.95%	23.72%
Sector *	58 Neutral	HK$111.68B	6.58	-4.20%	3.95%	9.04%	-46.99%

Cohen & Steers Corporate Events

Cohen & Steers Announces Executive Retirement and Transition

On March 10, 2025, Cohen & Steers announced the retirement of Daniel P. Charles, Executive Vice President and Head of Global Distribution, after nearly six years with the company and a 37-year career in asset management. During his tenure, Mr. Charles successfully realigned U.S. distribution efforts and expanded the firm’s reach across EMEA and APAC, enhancing the company’s distribution capabilities. Cohen & Steers has begun searching for his successor, and Mr. Charles will remain to assist with the transition.