Investment management firm Cohen & Steers (NYSE: CNS) will be reporting results this Thursday after market close. Here’s what to look for.
Cohen & Steers beat analysts’ revenue expectations last quarter, reporting revenues of $145.6 million, up 8.3% year on year. It was a mixed quarter for the company, with a significant miss of analysts’ EPS 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 11% year on year, in line with the 11.8% 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 will 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 Q2 results, giving us a hint as to what we can expect. Goldman Sachs delivered year-on-year revenue growth of 39.5%, beating analysts’ expectations by 23.7%, and FactSet reported revenues up 6.4%, topping estimates by 1.1%. FactSet traded up 8.7% following the results.
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 4.4% on average over the last month. Cohen & Steers’s stock price was unchanged during the same time and is heading into earnings with an average analyst price target of $71.33 (compared to the current share price of $77.17).
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