Cohen & Steers Inc. Q2 Profit Decreases, misses estimates

(RTTNews) - Cohen & Steers Inc. (CNS) released earnings for second quarter that decreased from the same period last year and missed the Street estimates.

The company's earnings totaled $31.78 million, or $0.64 per share. This compares with $51.96 million, or $1.06 per share, in last year's second quarter.

Excluding items, Cohen & Steers Inc. reported adjusted earnings of $34.74 million or $0.70 per share for the period.

Analysts on average had expected the company to earn $0.72 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 18.2% to $120.63 million from $147.43 million last year.

Cohen & Steers Inc. earnings at a glance (GAAP) :

-Earnings (Q2): $31.78 Mln. vs. $51.96 Mln. last year. -EPS (Q2): $0.64 vs. $1.06 last year. -Analyst Estimates: $0.72 -Revenue (Q2): $120.63 Mln vs. $147.43 Mln last year.