Cowen (COWN) Posts Earnings Results, Misses Expectations By $0.69 EPS

Cowen (NASDAQ:COWN) issued its quarterly earnings results on Thursday. The financial services provider reported ($0.30) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.39 by ($0.69), Bloomberg Earnings reports. The company had revenue of $204.50 million during the quarter, compared to analyst estimates of $178.98 million. Cowen had a negative net margin of 9.24% and a positive return on equity of 1.94%. The business’s revenue was up 67.2% on a year-over-year basis. During the same quarter last year, the firm earned ($0.48) EPS.

Cowen (NASDAQ COWN) opened at $14.80 on Friday. The stock has a market capitalization of $405.69, a PE ratio of -6.79 and a beta of 1.44. Cowen has a 52-week low of $11.62 and a 52-week high of $18.25. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.79 and a quick ratio of 0.79.

Cowen declared that its Board of Directors has initiated a stock buyback plan on Thursday, February 15th that authorizes the company to repurchase $23.60 million in outstanding shares. This repurchase authorization authorizes the financial services provider to buy shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.

Several equities analysts recently issued reports on COWN shares. Nomura dropped their price target on Cowen from $18.00 to $16.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 31st. BidaskClub cut Cowen from a “sell” rating to a “strong sell” rating in a research report on Thursday, December 7th.

A number of hedge funds have recently modified their holdings of the stock. MetLife Investment Advisors LLC acquired a new position in Cowen in the 4th quarter valued at about $180,000. Cowen Inc. acquired a new position in Cowen in the 4th quarter valued at about $2,036,000. Glacier Peak Capital LLC increased its position in Cowen by 8.9% in the 4th quarter. Glacier Peak Capital LLC now owns 112,073 shares of the financial services provider’s stock valued at $1,995,000 after acquiring an additional 9,118 shares during the period. Philadelphia Financial Management of San Francisco LLC acquired a new position in Cowen in the 4th quarter valued at about $5,470,000. Finally, Garnet Equity Capital Holdings Inc. acquired a new position in Cowen in the 4th quarter valued at about $4,095,000. Hedge funds and other institutional investors own 79.38% of the company’s stock.

TRADEMARK VIOLATION WARNING: “Cowen (COWN) Posts Earnings Results, Misses Expectations By $0.69 EPS” was first published by The Lincolnian Online and is the property of of The Lincolnian Online. If you are accessing this report on another domain, it was illegally stolen and reposted in violation of US and international trademark and copyright legislation. The correct version of this report can be viewed at

About Cowen

Cowen Inc, formerly Cowen Group, Inc, is a financial services company. The Company provides alternative investment management, investment banking, research, sales and trading, and prime brokerage services. It operates through two segments: alternative investment and broker-dealer. The alternative investment segment includes private equity structures, registered investment companies and listed investment vehicles.

Earnings History for Cowen (NASDAQ:COWN)

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's FREE daily email newsletter.

Leave a Reply