Cohen & Steers Inc
NYSE:CNS
Intrinsic Value
Cohen & Steers, Inc. is a holding company which operates as an investment manager specializing in liquid real assets, which include real estate securities, listed infrastructure, commodities, natural... [ Read More ]
The intrinsic value of one CNS stock under the Base Case scenario is 51.05 USD. Compared to the current market price of 76.89 USD, Cohen & Steers Inc is Overvalued by 34%.
Valuation Backtest
Cohen & Steers Inc
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Fundamental Analysis
Earnings Dip, AUM Grows Amidst Challenges
2023-Q4 Earnings Call
The company reported lower earnings per share from $0.79 to $0.67 year-over-year due to decreased revenue, attributed to lower average assets under management (AUM). Their AUM still grew by 3.4%, reaching $83.1 billion, driven by market appreciation. Looking ahead, the compensation to revenue ratio is projected to drop significantly from 40.65% to 20.5% in 2024, with G&A expected to rise by 5% to 7%, and depreciation and amortization costs approximating $9 million. A major institutional client exited their $1.5 billion account, impacting the fee base. Despite some underperformance in the past quarter, AUM outperformance over 3 and 5 years remains strong at 96% and 97% respectively, and 94% of open-end fund AUM is rated 4- or 5-star by Morningstar. The unfunded pipeline grew to $1.2 billion, signifying confidence as the firm enters investment phase for CNS REIT amid positive market signals.
Balance Sheet Decomposition
Cohen & Steers Inc
Current Assets | 256.3m |
Cash & Short-Term Investments | 187.4m |
Receivables | 68.9m |
Non-Current Assets | 480.2m |
Long-Term Investments | 259m |
PP&E | 169.6m |
Intangibles | 19.4m |
Other Non-Current Assets | 32.2m |
Current Liabilities | 222.3m |
Accounts Payable | 201k |
Accrued Liabilities | 206.8m |
Other Current Liabilities | 15.3m |
Non-Current Liabilities | 133.1m |
Other Non-Current Liabilities | 133.1m |
Earnings Waterfall
Cohen & Steers Inc
Revenue
|
489.6m
USD
|
Cost of Revenue
|
-54.2m
USD
|
Gross Profit
|
435.5m
USD
|
Operating Expenses
|
-271m
USD
|
Operating Income
|
164.5m
USD
|
Other Expenses
|
-35.4m
USD
|
Net Income
|
129m
USD
|
Free Cash Flow Analysis
Cohen & Steers Inc
What is Free Cash Flow?
CNS Profitability Score
Profitability Due Diligence
Cohen & Steers Inc's profitability score is 76/100. The higher the profitability score, the more profitable the company is.
Score
Cohen & Steers Inc's profitability score is 76/100. The higher the profitability score, the more profitable the company is.
CNS Solvency Score
Solvency Due Diligence
Cohen & Steers Inc's solvency score is 69/100. The higher the solvency score, the more solvent the company is.
Score
Cohen & Steers Inc's solvency score is 69/100. The higher the solvency score, the more solvent the company is.
Wall St
Price Targets
CNS Price Targets Summary
Cohen & Steers Inc
According to Wall Street analysts, the average 1-year price target for CNS is 74.97 USD with a low forecast of 69.69 USD and a high forecast of 81.9 USD.
Ownership
CNS Insider Trading
Buy and sell transactions by insiders
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Shareholder Return
CNS Price
Cohen & Steers Inc
Average Annual Return | 18.47% |
Standard Deviation of Annual Returns | 32.84% |
Max Drawdown | -55% |
Market Capitalization | 3.8B USD |
Shares Outstanding | 49 520 000 |
Percentage of Shares Shorted | 6.05% |
Company Profile
Country
Industry
Market Cap
Dividend Yield
Description
Cohen & Steers, Inc. is a holding company which operates as an investment manager specializing in liquid real assets, which include real estate securities, listed infrastructure, commodities, natural resource equities, preferred securities, and other income solutions. The company is headquartered in New York City, New York and currently employs 354 full-time employees. The company went IPO on 2004-08-13. The firm manages three types of investment vehicles institutional accounts, open-end funds, and closed-end funds. The institutional accounts for which the Company serves as investment adviser represent portfolios of securities it manages for institutional clients. The open-end funds include assets of third parties for which the CNS provides model portfolios. The closed-end funds for which the Company serves as investment adviser. CNS is the holding company for its direct and indirect subsidiaries, including Cohen & Steers Capital Management, Inc. (CSCM), Cohen & Steers Securities, LLC (CSS), Cohen & Steers UK Limited (CSUK), Cohen & Steers Ireland Limited (CSIL), Cohen & Steers Asia Limited (CSAL) and Cohen & Steers Japan Limited (CSJL).
Contact
IPO
Employees
Officers
The intrinsic value of one CNS stock under the Base Case scenario is 51.05 USD.
Compared to the current market price of 76.89 USD, Cohen & Steers Inc is Overvalued by 34%.