Shares of Cowen Inc. (NASDAQ:COWN) have received an average recommendation of “Buy” from the seven analysts that are currently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation and three have given a buy recommendation to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $35.20.
Several brokerages have recently issued reports on COWN. JMP Securities lifted their target price on Cowen from $36.00 to $60.00 in a report on Thursday, March 25th. Zacks Investment Research cut Cowen from a “hold” rating to a “strong sell” rating in a report on Tuesday, May 4th. Finally, Compass Point raised Cowen from a “neutral” rating to a “buy” rating and set a $43.00 target price on the stock in a report on Monday, March 29th.
Large investors have recently made changes to their positions in the business. Renaissance Technologies LLC boosted its position in shares of Cowen by 37.9% during the fourth quarter. Renaissance Technologies LLC now owns 174,006 shares of the financial services provider’s stock valued at $4,522,000 after buying an additional 47,778 shares during the period. Azora Capital LP purchased a new position in shares of Cowen during the fourth quarter valued at approximately $13,668,000. Keebeck Alpha LP purchased a new position in shares of Cowen during the first quarter valued at approximately $238,000. Engineers Gate Manager LP purchased a new position in shares of Cowen during the fourth quarter valued at approximately $1,255,000. Finally, EAM Investors LLC boosted its position in shares of Cowen by 65.4% during the first quarter. EAM Investors LLC now owns 109,088 shares of the financial services provider’s stock valued at $3,834,000 after buying an additional 43,152 shares during the period.
Cowen (NASDAQ:COWN) last posted its quarterly earnings results on Thursday, April 29th. The financial services provider reported $4.34 EPS for the quarter, beating the Zacks’ consensus estimate of $4.33 by $0.01. The business had revenue of $687.40 million for the quarter, compared to analysts’ expectations of $506.73 million. Cowen had a return on equity of 42.17% and a net margin of 19.61%. As a group, equities research analysts anticipate that Cowen will post 8.82 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 15th. Shareholders of record on Tuesday, June 1st will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 1.05%. The ex-dividend date of this dividend is Friday, May 28th. This is a positive change from Cowen’s previous quarterly dividend of $0.08. Cowen’s payout ratio is 3.52%.
Cowen Inc, together with its subsidiaries, provides investment banking, research, sales and trading, prime brokerage, global clearing, securities financing, commission management, and investment management services in the United States and internationally. It operates in two segments, Operating Company (Op Co) and Asset Company (Asset Co).
Featured Story: Dollar Cost Averaging
Receive News & Ratings for Cowen Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cowen and related companies with MarketBeat.com's FREE daily email newsletter.