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Cohen & Steers
(NYSE:CNS)
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Rating:71Outperform
Price Target:
$76.00
▼(-8.02% Downside)
Action:Reiterated
Date:10/16/26
The score is driven primarily by strong financial quality (high margins/returns and a debt-free balance sheet) and a constructive earnings update with solid organic growth, inflows, and margin expansion. These positives are tempered by weak technicals (price below key moving averages with bearish momentum) and only moderate valuation support despite an attractive dividend yield.
Positive Factors
Organic Growth and Inflows
Repeated organic growth and substantial net inflows indicate broadening client demand rather than reliance on market appreciation alone. Continued asset gathering can expand the recurring fee base, support operating leverage, and strengthen Cohen & Steers’ distribution position over the next several quarters.
Negative Factors
Volatile Cash Generation
Positive recent free cash flow is tempered by substantial year-to-year volatility, which makes internally generated cash less predictable than reported earnings. Uncertain cash conversion can complicate reinvestment, capital allocation, and planning during periods when markets or client activity weaken.
Read all positive and negative factors
Positive Factors
Negative Factors
Organic Growth and Inflows
Repeated organic growth and substantial net inflows indicate broadening client demand rather than reliance on market appreciation alone. Continued asset gathering can expand the recurring fee base, support operating leverage, and strengthen Cohen & Steers’ distribution position over the next several quarters.
Read all positive factors
Cohen & Steers (CNS) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$3.70B
Dividend Yield3.74%
Average Volume (3M)339.50K
Price to Earnings (P/E)21.4
Beta (1Y)0.65
Revenue Growth13.30%
EPS Growth2.05%
CountryUS
Employees424
SectorFinancial
Sector Strength70
IndustryAsset Management
Share Statistics
EPS (TTM)3.27
Shares Outstanding51,421,530
10 Day Avg. Volume399,494
30 Day Avg. Volume339,497
Financial Highlights & Ratios
PEG Ratio-62.99
Price to Book (P/B)5.72
Price to Sales (P/S)5.67
P/FCF Ratio-25.45
Enterprise Value/Market Cap1.12
Enterprise Value/Revenue6.89
Enterprise Value/Gross Profit9.00
Enterprise Value/Ebitda17.98
Forecast
1Y Price Target
$68.50Price Target Upside-17.10% Downside
Rating ConsensusHold
Number of Analyst Covering2
EPS Forecast (FY)3.38
Revenue Forecast (FY)$616.87M
Cohen & Steers Business Overview & Revenue Model
Company Description
Cohen & Steers, Inc. operates as a publicly traded holding company specializing in asset management. Through its various operating units, the firm delivers financial services to institutional investors, such as pension funds, university endowments...
How the Company Makes Money
Cohen & Steers primarily makes money by charging investment management fees for managing client assets across its mutual funds, closed-end funds, and institutional separate accounts. The largest driver of revenue is typically asset-based advisory/...
Cohen & Steers Earnings Call Summary
Earnings Call Date:Oct 15, 2026
(Q3-2026)
| % Change Since: |
Next Earnings Date:Jan 27, 2027
Earnings Call Sentiment Positive
The call was predominantly positive. Management reported a fifth consecutive quarter of organic growth, $1.6 billion of net inflows, a record-sized institutional pipeline, improved investment performance, expanding margins, and broadening demand across wealth, institutional, ETF, infrastructure, real estate, preferred securities, and multi-strategy real asset offerings. The main challenges were quarter-end AUM pressure from negative market movement, higher interest rates weighing on asset classes, expected $400 million of institutional rebalancing outflows, and slower adoption of real estate among major wirehouses. Overall, the highlights significantly outweighed the lowlights.Positive Updates
Adjusted EPS Increased
Adjusted earnings per share was $0.89, up from $0.85 in the second quarter.
Negative Updates
Quarter-End AUM Declined
AUM ended the quarter at $95.9 billion, down from $100 billion in the prior quarter, as negative market movement offset the strong flows generated during the period. Average AUM nevertheless increased to $101 billion.
Read all updates
Q3-2026 Updates
Positive
Negative
Adjusted EPS Increased
Adjusted earnings per share was $0.89, up from $0.85 in the second quarter.
Read all positive updates
Company Guidance
Management maintained expense guidance, continuing to expect compensation and benefits expenses of approximately 40% of revenues, mid-single-digit growth in G&A expenses relative to 2025, and a pro forma effective tax rate of 25% to 26%; it expects 9% EBITDA growth for global listed infrastructure versus a historical average of 6% to 7%, and 20% earnings growth for natural resource equities versus a historical average of 6% to 8%, while noting that the institutional allocation process is made over say, a 9-month time period and the life cycle from the pipeline to fund is roughly about 4 months.Cohen & Steers Financial Statement Overview
Summary
Income Statement
84
Very Positive
Balance Sheet
90
Very Positive
Cash Flow
62
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 599.09M | 567.80M | 517.42M | 489.64M | 573.72M | 583.83M |
| Gross Profit | 458.91M | 326.52M | 242.30M | 235.29M | 281.96M | 312.50M |
| EBITDA | 229.69M | 201.14M | 203.39M | 169.62M | 228.42M | 279.28M |
| Net Income | 168.30M | 153.22M | 151.26M | 129.05M | 171.04M | 211.40M |
Balance Sheet | ||||||
| Total Assets | 900.98M | 910.45M | 812.37M | 736.55M | 673.38M | 492.69M |
| Cash, Cash Equivalents and Short-Term Investments | 612.20M | 145.45M | 309.93M | 265.44M | 262.71M | 208.08M |
| Total Debt | 134.39M | 138.33M | 141.12M | 140.41M | 138.81M | 24.52M |
| Total Liabilities | 205.61M | 276.60M | 237.46M | 243.91M | 246.44M | 148.36M |
| Stockholders Equity | 589.38M | 561.95M | 511.71M | 381.23M | 337.55M | 255.18M |
Cash Flow | ||||||
| Free Cash Flow | 123.32M | -126.42M | 85.04M | 114.97M | 57.46M | 240.21M |
| Operating Cash Flow | 127.11M | -120.44M | 96.69M | 171.96M | 61.68M | 242.90M |
| Investing Cash Flow | -70.27M | 8.36M | -119.71M | -114.78M | -2.86M | 47.65M |
| Financing Cash Flow | -90.72M | 73.84M | 18.17M | -119.05M | 8.97M | -145.43M |
Cohen & Steers Technical Analysis
Negative
82.63
Price Trends
75.90
Negative
76.86
Negative
71.06
Negative
Market Momentum
-1.70
Negative
44.14
Neutral
69.06
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For CNS, the sentiment is Negative. The current price of 82.63 is above the 20-day moving average (MA) of 71.24, above the 50-day MA of 75.90, and above the 200-day MA of 71.06, indicating a bearish trend. The MACD of -1.70 indicates Negative momentum. The RSI at 44.14 is Neutral, neither overbought nor oversold. The STOCH value of 69.06 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for CNS.
Cohen & Steers Risk Analysis
Cohen & Steers disclosed 28 risk factors in its most recent earnings report. Cohen & Steers reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Cohen & Steers Peers Comparison
UnderperformOutperform
Sector (68)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
86 Outperform | $3.20B | 10.25 | 25.41% | 10.01% | ― | 0.94% | |
83 Outperform | $4.18B | 10.31 | 34.06% | 2.57% | 15.25% | 19.43% | |
72 Outperform | $2.69B | 7.81 | 70.98% | 12.16% | 7.40% | 9.66% | |
71 Outperform | $3.70B | 21.42 | 29.82% | 3.74% | 13.30% | 2.05% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
66 Neutral | $3.27B | 38.86 | 19.25% | 0.55% | 37.14% | 38.12% | |
65 Neutral | $795.25M | 6.70 | 12.82% | 8.04% | -5.17% | -14.45% |
* Financial Sector Average
CNS
Cohen & Steers
72.07
3.91
5.74%
AB
AllianceBernstein
35.13
-0.84
-2.33%
FHI
Federated Hermes
57.67
8.77
17.93%
VRTS
Virtus Investment Partners
122.35
-44.59
-26.71%
WT
WisdomTree
21.21
8.98
73.44%
APAM
Artisan Partners
34.40
-4.87
-12.40%
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.