Investment management firm Cohen & Steers (NYSE: CNS) will be reporting earnings this Thursday after market close. Here’s what to expect.
Cohen & Steers met analysts’ revenue expectations last quarter, reporting revenues of $143.8 million, up 2.9% year on year. It was a mixed quarter for the company, with revenue in line with analysts’ estimates.
Is Cohen & Steers a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Cohen & Steers’s revenue to grow 6.6% year on year, slowing from the 9.6% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Cohen & Steers has missed Wall Street’s revenue estimates multiple times over the last two years.
Looking at Cohen & Steers’s peers in the capital markets segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Goldman Sachs delivered year-on-year revenue growth of 14.4%, beating analysts’ expectations by 1%, and FactSet reported revenues up 7.1%, topping estimates by 1.1%. Goldman Sachs’s stock price was unchanged after the resultswhile FactSet was up 9.9%.
Read our full analysis of Goldman Sachs’s results here and FactSet’s results here.
There has been positive sentiment among investors in the capital markets segment, with share prices up 9.5% on average over the last month. Cohen & Steers is up 4.7% during the same time and is heading into earnings with an average analyst price target of $66 (compared to the current share price of $66.27).
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