Cowen Inc. (NASDAQ:COWN) – Stock analysts at Piper Sandler boosted their FY2021 EPS estimates for shares of Cowen in a note issued to investors on Friday, January 7th. Piper Sandler analyst S. Mody now expects that the financial services provider will earn $9.20 per share for the year, up from their prior forecast of $9.07. Piper Sandler also issued estimates for Cowen’s Q4 2021 earnings at $1.97 EPS, Q1 2022 earnings at $1.62 EPS, Q2 2022 earnings at $1.74 EPS, Q3 2022 earnings at $1.77 EPS, Q4 2022 earnings at $2.19 EPS, FY2022 earnings at $7.31 EPS, Q1 2023 earnings at $1.89 EPS, Q2 2023 earnings at $2.02 EPS, Q3 2023 earnings at $2.05 EPS, Q4 2023 earnings at $2.54 EPS and FY2023 earnings at $8.49 EPS. Cowen (NASDAQ:COWN) last announced its quarterly earnings results on Thursday, October 28th. The financial services provider reported $1.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.22 by $0.10. The firm had revenue of $359.06 million for the quarter, compared to the consensus estimate of $336.73 million. Cowen had a net margin of 16.97% and a return on equity of 31.20%. During the same quarter last year, the firm posted $1.25 EPS.
Other equities analysts also recently issued research reports about the stock. Zacks Investment Research raised shares of Cowen from a “sell” rating to a “buy” rating and set a $44.00 price objective on the stock in a report on Thursday, November 4th. The Goldman Sachs Group started coverage on shares of Cowen in a report on Tuesday, September 21st. They issued a “sell” rating and a $35.00 price objective on the stock.
COWN opened at $35.74 on Monday. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.04. The company has a market cap of $975.24 million, a price-to-earnings ratio of 3.68 and a beta of 1.40. The company’s 50 day moving average is $36.80 and its 200 day moving average is $37.33. Cowen has a 12-month low of $23.40 and a 12-month high of $44.07.
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Several institutional investors have recently added to or reduced their stakes in COWN. Private Capital Group LLC raised its position in shares of Cowen by 79.5% during the third quarter. Private Capital Group LLC now owns 921 shares of the financial services provider’s stock valued at $32,000 after buying an additional 408 shares during the last quarter. First Horizon Advisors Inc. raised its position in shares of Cowen by 289.2% during the third quarter. First Horizon Advisors Inc. now owns 432 shares of the financial services provider’s stock valued at $38,000 after buying an additional 321 shares during the last quarter. PNC Financial Services Group Inc. bought a new stake in Cowen in the second quarter worth $43,000. US Bancorp DE increased its position in Cowen by 90.5% in the second quarter. US Bancorp DE now owns 1,625 shares of the financial services provider’s stock worth $67,000 after purchasing an additional 772 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC increased its position in Cowen by 59.2% in the second quarter. O Shaughnessy Asset Management LLC now owns 1,750 shares of the financial services provider’s stock worth $72,000 after purchasing an additional 651 shares during the last quarter. Hedge funds and other institutional investors own 89.73% of the company’s stock.
In other news, Director Brett H. Barth bought 10,000 shares of the firm’s stock in a transaction on Friday, November 26th. The shares were bought at an average price of $35.85 per share, for a total transaction of $358,500.00. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. 4.20% of the stock is currently owned by company insiders.
The company also recently announced a quarterly dividend, which was paid on Wednesday, December 15th. Shareholders of record on Wednesday, December 1st were paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 1.12%. The ex-dividend date was Tuesday, November 30th. Cowen’s payout ratio is 4.12%.
Cowen Company Profile
Cowen, Inc engages in the provision of financial services. It operates through following the segments: Operating Company and Asset Company. The Operating Company segment consists of the Cowen Investment Management, the Investment Banking, the Markets, and the Research divisions. The Asset Company segment comprises of the firm’s private investments, private real estate investments, and other legacy investment strategies.
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