NasdaqGS:COWN - Analysts future estimates and past financials data (USD Millions)
Date	Revenue	Earnings	Free Cash Flow	Cash from Op	Avg. No. Analysts
12/31/2023	1,439	111	N/A	N/A	2
12/31/2022	1,279	70	N/A	N/A	N/A
9/30/2022	1,394	122	-106	-91	N/A
6/30/2022	1,428	145	88	100	N/A
3/31/2022	1,576	176	-379	-366	N/A
12/31/2021	1,901	289	295	307	N/A
9/30/2021	1,985	316	688	695	N/A
6/30/2021	1,899	298	544	554	N/A
3/31/2021	2,100	367	946	955	N/A
12/31/2020	1,566	210	502	513	N/A
9/30/2020	1,272	123	249	267	N/A
6/30/2020	1,183	106	165	183	N/A
3/31/2020	838	-2	-145	-129	N/A
12/31/2019	990	18	-202	-187	N/A
9/30/2019	869	18	-138	-128	N/A
6/30/2019	868	29	58	69	N/A
3/31/2019	825	29	221	230	N/A
12/31/2018	855	36	316	324	N/A
9/30/2018	803	-45	166	176	N/A
6/30/2018	772	-56	-104	-99	N/A
3/31/2018	710	-54	14	21	N/A
12/31/2017	585	-68	-3	3	N/A
9/30/2017	518	6	104	108	N/A
6/30/2017	460	-1	132	135	N/A
3/31/2017	420	-19	-71	-67	N/A
12/31/2016	410	-26	-367	-352	N/A
9/30/2016	392	6	N/A	-228	N/A
6/30/2016	390	-1	N/A	-265	N/A
3/31/2016	393	18	N/A	-367	N/A

Analyst Future Growth Forecasts

Earnings vs Savings Rate: Insufficient data to determine if COWN's forecast earnings growth is above the savings rate (2.1%).

Earnings vs Market: Insufficient data to determine if COWN's earnings are forecast to grow faster than the US market

High Growth Earnings: Insufficient data to determine if COWN's earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: Insufficient data to determine if COWN's revenue is forecast to grow faster than the US market.

High Growth Revenue: Insufficient data to determine if COWN's revenue is forecast to grow faster than 20% per year.

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: Insufficient data to determine if COWN's Return on Equity is forecast to be high in 3 years time

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Company Analysis and Financial Data Status

Data	Last Updated (UTC time)
Company Analysis	2023/03/02 09:24
End of Day Share Price	2023/02/28 00:00
Earnings	2022/12/31
Annual Earnings	2022/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

Package	Data	Timeframe	Example US Source ^*
Company Financials	10 years	Income statement Cash flow statement Balance sheet	SEC Form 10-K SEC Form 10-Q
Analyst Consensus Estimates	+3 years	Forecast financials Analyst price targets	Analyst Research Reports Blue Matrix
Market Prices	30 years	Stock prices Dividends, Splits and Actions	ICE Market Data SEC Form S-1
Ownership	10 years	Top shareholders Insider trading	SEC Form 4 SEC Form 13D
Management	10 years	Leadership team Board of directors	SEC Form 10-K SEC Form DEF 14A
Key Developments	10 years	Company announcements	SEC Form 8-K

^* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Cowen Inc. is covered by 10 analysts. 3 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

Analyst	Institution
Guy Moszkowski	BofA Global Research
James Mitchell	Buckingham Research Group Inc.
Christopher Walsh	Buckingham Research Group Inc.

This company has been acquired

Cowen Future Growth

Future criteria checks 0/6

Key information

Recent future growth updates

Price target decreased to US$39.00

Consensus EPS estimates fall by 35%

Price target decreased to US$39.50

Consensus EPS estimates fall by 17%

Price target decreased to US$42.50

Price target decreased to US$45.83

Recent updates

Cowen's (NASDAQ:COWN) Dividend Will Be $0.12

Cowen Inc. Declares Cash Dividend, Payable on March 15, 2023

Full year 2022 earnings: Revenues exceed analysts expectations while EPS lags behind

Cowen Inc. to Report Q4, 2022 Results on Feb 17, 2023

Upcoming dividend of US$0.12 per share

Price target decreased to US$39.00

Cowen Inc. Declares Cash Dividend, Payable on December 15, 2022

Third quarter 2022 earnings: EPS and revenues exceed analyst expectations

Cowen Inc. to Report Q3, 2022 Results on Oct 28, 2022

Consensus EPS estimates fall by 35%

Now 20% undervalued

Cowen: Review Of The Acquisition By The Toronto-Dominion Bank

Cowen Inc. Announces Four Key Additions to the Firm’s Global Cross-Asset Division

Upcoming dividend of US$0.12 per share

Second quarter 2022 earnings released: EPS: US$0.45 (vs US$1.62 in 2Q 2021)

Cowen Inc. Declares Cash Dividend, Payable on September 15, 2022

Price target decreased to US$39.50

Cowen declares $0.12 dividend

The Toronto-Dominion Bank (TSX:TD) entered into a definitive agreement to acquire Cowen Inc. (NasdaqGS:COWN) for $1.3 billion.

Investor sentiment improved over the past week

Consensus EPS estimates fall by 17%

Investor sentiment improved over the past week

Toronto-Dominion Reportedly Looks into Takeover of Cowen

Cowen jumps on report Toronto-Dominion bank said to weigh potential purchase

Cowen Inc. (NasdaqGS:COWN) acquired Kelvin Re Limited.

Investor sentiment deteriorated over the past week

Cowen: A Deeply Discounted Opportunity

Cowen Inc., Annual General Meeting, Jun 23, 2022

Upcoming dividend of US$0.12 per share

Cowen Inc. Declares Quarterly Cash Dividend, Payable on June 15, 2022

First quarter 2022 earnings: EPS and revenues exceed analyst expectations

Price target decreased to US$42.50

Analysts Just Shaved Their Cowen Inc. (NASDAQ:COWN) Forecasts Dramatically

Price target decreased to US$45.83

Investor sentiment deteriorated over the past week

With EPS Growth And More, Cowen (NASDAQ:COWN) Is Interesting

Cowen Inc.: Appears Too Cheap

Now 25% undervalued after recent price drop

Cowen Inc. Appoints Brian Hagerty as Managing Director, Biotechnology

Lead Independent Director recently bought US$288k worth of stock

Consensus forecasts updated

Upcoming dividend of US$0.12 per share

Cowen's (NASDAQ:COWN) Shareholders Will Receive A Bigger Dividend Than Last Year

Full year 2021 earnings: EPS and revenues exceed analyst expectations

Cowen Inc. Declares Quarterly Cash Dividend, Payable on March 15, 2022

Cowen Appoints Lorence Kim as New Independent Board Director

Cowen Inc. Announces Steven Mah to Equity Research Team

Cowen Inc. (NasdaqGS:COWN) completed the acquisition of Portico Capital Securities LLC from Portico Holdings LLC.

Cowen: Undervaluation And Strong Prospects Are Too Tempting To Ignore

Lead Independent Director recently bought US$358k worth of stock

Cowen Inc. (NasdaqGS:COWN) signed a definitive agreement to acquire Portico Capital Securities LLC from Portico Holdings LLC.

Upcoming dividend of US$0.10 per share

Should You Be Adding Cowen (NASDAQ:COWN) To Your Watchlist Today?

Third quarter 2021 earnings released: EPS US$1.25 (vs US$0.67 in 3Q 2020)

Upcoming dividend of US$0.10 per share

Cowen: Attractively Priced With Significant Growth Opportunities

Cowen (NASDAQ:COWN) Is Increasing Its Dividend To US$0.10

Second quarter 2021 earnings released: EPS US$1.62 (vs US$4.01 in 2Q 2020)

Cowen: An Investment Bank Worthy Of Your Investment?

Vice Chairman Fred Fraenkel has left the company

Cowen Inc.(NasdaqGS:COWN) dropped from Russell Microcap Growth Index

Upcoming dividend of US$0.10 per share

Need To Know: Analysts Are Much More Bullish On Cowen Inc. (NASDAQ:COWN)

First quarter 2021 earnings released: EPS US$5.43 (vs US$0.41 loss in 1Q 2020)

Cowen Inc. Increases Its Quarterly Cash Dividend, Payable on June 15, 2021

Cowen Inc. 2021 Q1 - Results - Earnings Call Presentation

Price target increased to US$53.60

Consensus EPS estimates increase to US$6.19