Pershing Square (NYSE:PS) Stock Rating Reaffirmed as Hold by JonesTrading

Key Points

• JonesTrading reaffirmed its “Hold” rating on Pershing Square (NYSE:PS). Across analysts, the stock has an average “Hold” rating and a consensus price target of $41.33.
• Pershing Square opened at $59.69, near its 52-week high of $59.94, with a $23.88 billion market capitalization and a notably high price-to-earnings ratio of 426.36.
• The company reported quarterly EPS of $0.14, exceeding the $0.12 consensus estimate, while several institutional investors—including Rivernorth Capital Management—established new positions during the second quarter.

Pershing Square (NYSE:PS - Get Free Report)'s stock had its "hold" rating reissued by investment analysts at JonesTrading in a research note issued on Tuesday, Benzinga reports.

A number of other brokerages also recently issued reports on PS. Tigress Financial increased their price target on shares of Pershing Square from $39.00 to $41.00 and gave the stock a "neutral" rating in a report on Thursday, September 3rd. Royal Bank Of Canada lowered their price target on Pershing Square from $40.00 to $38.00 and set a "sector perform" rating on the stock in a report on Monday, July 13th. Weiss Ratings raised shares of Pershing Square from a "sell (d)" rating to a "sell (d+)" rating in a report on Tuesday, August 11th. Wells Fargo & Company raised their price objective on shares of Pershing Square from $34.00 to $36.00 and gave the company an "equal weight" rating in a research report on Thursday, September 3rd. Finally, Wall Street Zen lowered shares of Pershing Square from a "hold" rating to a "sell" rating in a research report on Sunday, June 7th. One investment analyst has rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $41.33.

Pershing Square Stock Performance

NYSE:PS opened at $59.69 on Tuesday. The company's fifty day moving average is $40.32. The company has a market cap of $23.88 billion and a price-to-earnings ratio of 426.36. Pershing Square has a 52-week low of $22.01 and a 52-week high of $59.94.

Pershing Square (NYSE:PS - Get Free Report) last issued its earnings results on Wednesday, August 12th. The company reported $0.14 EPS for the quarter, topping the consensus estimate of $0.12 by $0.02. The company had revenue of $68.03 million during the quarter. On average, sell-side analysts predict that Pershing Square will post 0.56 EPS for the current fiscal year.

Institutional Investors Weigh In On Pershing Square

Institutional investors have recently bought and sold shares of the stock. NewEdge Advisors LLC bought a new stake in Pershing Square in the second quarter valued at approximately $1,702,000. Equitec Proprietary Markets LLC bought a new position in shares of Pershing Square in the second quarter worth approximately $3,828,000. Clal Insurance Enterprises Holdings Ltd purchased a new position in shares of Pershing Square in the second quarter worth $9,858,000. Proficio Capital Partners LLC bought a new stake in Pershing Square during the 2nd quarter valued at $1,459,000. Finally, Rivernorth Capital Management LLC bought a new stake in Pershing Square during the 2nd quarter valued at $14,787,000.

Pershing Square Company Profile

Pershing Square USA, Ltd. is a closed-end investment company listed on the New York Stock Exchange under the symbol PS. Rather than operating a conventional commercial business, the company invests shareholder capital in a concentrated portfolio of publicly traded companies.

The fund seeks long-term capital appreciation by investing primarily in large, established North American businesses. Its investment approach emphasizes fundamental research, a limited number of high-conviction holdings, and active engagement with portfolio companies when appropriate.

Pershing Square USA is managed by Pershing Square Capital Management, an investment management firm founded by William A.

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