Pershing Square Inc. (NYSE:PS) Receives Average Recommendation of "Hold" from Brokerages

Key Points

• Analysts rate Pershing Square “Hold” on average: Of 12 analysts, nine recommend hold, two recommend buy and one recommends sell. The average 12-month price target is $40.89, above the reported share price of $36.53.
• Pershing Square reported quarterly EPS of $0.14, beating the $0.12 consensus estimate, with revenue of $68.03 million. Analysts expect full-year EPS of approximately $0.56.
• The company pays a quarterly dividend of $0.122, equivalent to an annualized $0.49 and a 1.3% yield, while several institutional investors recently initiated positions in the stock.

Shares of Pershing Square Inc. (NYSE:PS - Get Free Report) have earned an average recommendation of "Hold" from the twelve analysts that are currently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $40.8889.

PS has been the subject of a number of research analyst reports. Citigroup lowered shares of Pershing Square from a "buy" rating to a "neutral" rating and set a $45.00 price objective for the company. in a report on Wednesday, August 19th. Weiss Ratings upgraded shares of Pershing Square from a "sell (d)" rating to a "sell (d+)" rating in a research report on Tuesday, August 11th. Jefferies Financial Group started coverage on shares of Pershing Square in a research note on Monday, May 25th. They set a "hold" rating and a $40.00 target price for the company. UBS Group initiated coverage on shares of Pershing Square in a report on Tuesday, May 26th. They issued a "neutral" rating and a $39.00 price target on the stock. Finally, Tigress Financial assumed coverage on shares of Pershing Square in a research note on Monday, July 27th. They issued a "neutral" rating and a $39.00 price target on the stock.

Hedge Funds Weigh In On Pershing Square

Institutional investors have recently added to or reduced their stakes in the company. Rivernorth Capital Management LLC bought a new stake in Pershing Square in the 2nd quarter worth approximately $14,787,000. Clal Insurance Enterprises Holdings Ltd bought a new position in shares of Pershing Square during the 2nd quarter valued at approximately $9,858,000. Equitec Proprietary Markets LLC purchased a new position in shares of Pershing Square in the second quarter valued at $3,828,000. Proficio Capital Partners LLC bought a new stake in Pershing Square in the second quarter worth $1,459,000. Finally, Readystate Asset Management LP bought a new stake in Pershing Square in the second quarter worth $822,000.

Pershing Square Stock Performance

NYSE PS opened at $36.53 on Thursday. The company has a market capitalization of $14.61 billion and a price-to-earnings ratio of 260.93. The stock has a 50-day simple moving average of $36.53. Pershing Square has a twelve month low of $22.01 and a twelve month high of $54.94.

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

Pershing Square Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 21st. Stockholders of record on Monday, July 13th were issued a $0.122 dividend. This represents a $0.49 annualized dividend and a dividend yield of 1.3%. The ex-dividend date of this dividend was Monday, July 13th. Pershing Square's payout ratio is 350.00%.

About Pershing Square

Pershing Square NYSE: PS is a publicly traded investment holding company managed by Pershing Square Capital Management, L.P., the investment firm founded and led by William "Bill" Ackman. The vehicle provides outside investors with exposure to the firm's concentrated, actively managed investment program and is designed to deliver long‑term capital appreciation through a portfolio of equity and related positions.

The company's principal activities center on investing in publicly traded companies, typically through concentrated long equity positions and selectively using derivatives or other instruments for hedging or to implement investment views.

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