Cohen & Steers Hits Estimates in Solid Quarter

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Cohen & Steers (NYS: CNS) reported earnings on April 18. Here are the numbers you need to know.

The 10-second takeaway
For the quarter ended March 31 (Q1), Cohen & Steers met expectations on revenues and met expectations on earnings per share.

Compared to the prior-year quarter, revenue expanded significantly and GAAP earnings per share expanded significantly.


Margins grew across the board.

Revenue details
Cohen & Steers recorded revenue of $63.7 million. The three analysts polled by S&P Capital IQ hoped for revenue of $64.1 million on the same basis. GAAP reported sales were 16% higher than the prior-year quarter's $54.8 million.

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Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.

EPS details
EPS came in at $0.41. The three earnings estimates compiled by S&P Capital IQ predicted $0.41 per share. GAAP EPS of $0.41 for Q1 were 37% higher than the prior-year quarter's $0.30 per share.

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Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.

Margin details
For the quarter, gross margin was 55.4%, 300 basis points better than the prior-year quarter. Operating margin was 39.8%, 530 basis points better than the prior-year quarter. Net margin was 28.3%, 460 basis points better than the prior-year quarter.

Looking ahead
Next quarter's average estimate for revenue is $67.0 million. On the bottom line, the average EPS estimate is $0.41.

Next year's average estimate for revenue is $275.2 million. The average EPS estimate is $1.67.

Investor sentiment
The stock has a three-star rating (out of five) at Motley Fool CAPS, with 107 members out of 118 rating the stock outperform, and 11 members rating it underperform. Among 38 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 36 give Cohen & Steers a green thumbs-up, and two give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Cohen & Steers is outperform, with an average price target of $33.40.

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At the time this article was published Seth Jayson had no position in any company mentioned here at the time of publication. You can view his stock holdings here. He is co-advisor ofMotley Fool Hidden Gems, which provides new small-cap ideas every month, backed by a real-money portfolio. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

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