Cohen & Steers Inc. (CNS) has reached a new 52-week high, with its stock price soaring to $86.13. This milestone reflects the company's strong performance over the past year, which has seen a significant uptick in its market value. The 52-week high is a testament to the company's resilience and strategic growth initiatives, which have been well-received by investors. Over the past year, Cohen & Steers Inc. has seen a substantial increase in its value, with a 1-year change of 28.07%. This impressive growth rate underscores the company's robust financial health and its ability to deliver consistent returns to its shareholders.
In other recent news, Cohen & Steers has reported a slight decrease in earnings per share and revenue for Q2 2024, due to underperformance in equity-oriented asset classes and a slight drop in assets under management. The company's earnings per share for the quarter were $0.68, down from $0.70 in the same quarter of the previous year, and revenue reached $122 million. The company's assets under management declined by 1% to $80.7 billion. Despite these challenges, Cohen & Steers announced several growth initiatives, including the launch of the Future of Energy Fund and plans to introduce active ETFs. Furthermore, the company has made leadership changes, appointing Raja Dakkuri as CFO and Dan Noonan as Head of Wealth Distribution. These are among the recent developments at Cohen & Steers, as the company navigates market shifts and high interest rates in the closed-end fund market.
InvestingPro Insights
As Cohen & Steers Inc. (CNS) celebrates its new 52-week high, the InvestingPro platform provides deeper insights into the company's financial metrics and stock performance. With a market capitalization of $4.33 billion and a P/E ratio standing at 32.96, the company is trading at a high earnings multiple, which indicates investor confidence in its future earnings potential. Notably, CNS has maintained its dividend payments for 21 consecutive years, showcasing a commitment to shareholder returns, and currently offers a dividend yield of 2.91%. This is particularly attractive for income-focused investors.
In the short term, the stock has shown a strong return over the last month with a 13.97% increase, and over the last three months, it has climbed 16.88%. Investors looking for additional InvestingPro Tips, such as the company's Price / Book multiple of 11.38 or the latest analyst predictions, can find further exclusive insights on the InvestingPro platform. Moreover, there are 7 additional InvestingPro Tips available for CNS, which can be accessed using the coupon code PRONEWS24 to get up to 10% off a yearly Pro and a yearly or biyearly Pro+ subscription. These tips could provide valuable context for investors considering whether to buy, hold, or sell CNS shares as they navigate the market's volatility and the company's trading near its 52-week high.
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