Pershing Square Inc. (NYSE:PS) Stock Has Average Price Target of $41.33 According to Brokerages

Key Points

• Analyst consensus is “Hold”: Nine of 12 brokerages rate Pershing Square neutral, while two recommend buying and one recommends selling. The average 12-month price target is $41.33, below the stock’s reported $56.34 price.
• Pershing Square shares recently traded near a 52-week high, with a market capitalization of approximately $22.54 billion and a notably high price-to-earnings ratio of 402.43.
• The company exceeded quarterly earnings expectations with EPS of $0.14 versus a $0.12 consensus estimate and reported a quarterly dividend of $0.122 per share, or about $0.49 annualized.

Pershing Square Inc. (NYSE:PS - Get Free Report) has been assigned an average recommendation of "Hold" from the twelve ratings firms that are covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, nine have assigned a hold recommendation and two have given a buy recommendation to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $41.33.

PS has been the topic of a number of research analyst reports. Tigress Financial increased their target price on Pershing Square from $39.00 to $41.00 and gave the stock a "neutral" rating in a report on Thursday, September 3rd. Weiss Ratings raised Pershing Square from a "sell (d)" rating to a "sell (d+)" rating in a research report on Tuesday, August 11th. Citigroup cut Pershing Square from a "buy" rating to a "neutral" rating and set a $45.00 price objective on the stock. in a research note on Wednesday, August 19th. JonesTrading lifted their price objective on shares of Pershing Square from $39.00 to $42.00 and gave the stock a "buy" rating in a report on Monday, August 24th. Finally, Wells Fargo & Company boosted their target price on shares of Pershing Square from $34.00 to $36.00 and gave the company an "equal weight" rating in a research note on Thursday, September 3rd.

Hedge Funds Weigh In On Pershing Square

A number of large investors have recently bought and sold shares of PS. Integrated Wealth Concepts LLC acquired a new position in Pershing Square in the second quarter valued at approximately $132,000. NewEdge Advisors LLC acquired a new stake in shares of Pershing Square during the 2nd quarter worth approximately $1,702,000. Readystate Asset Management LP bought a new stake in shares of Pershing Square in the 2nd quarter worth approximately $822,000. Proficio Capital Partners LLC acquired a new position in Pershing Square during the 2nd quarter valued at approximately $1,459,000. Finally, Ancora Advisors LLC acquired a new position in Pershing Square during the 2nd quarter valued at approximately $302,000.

Pershing Square Trading Up 0.3%

Shares of Pershing Square stock opened at $56.34 on Monday. Pershing Square has a 1 year low of $22.01 and a 1 year high of $56.94. The firm has a 50-day moving average of $39.80. The firm has a market cap of $22.54 billion and a price-to-earnings ratio of 402.43.

Pershing Square (NYSE:PS - Get Free Report) last posted its quarterly earnings results on Wednesday, August 12th. The company reported $0.14 EPS for the quarter, topping analysts' consensus estimates of $0.12 by $0.02. The firm had revenue of $68.03 million during the quarter. Equities analysts expect that Pershing Square will post 0.56 EPS for the current year.

Pershing Square Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 21st. Investors of record on Monday, July 13th were given a dividend of $0.1220 per share. This represents a $0.49 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend was Monday, July 13th. Pershing Square's dividend payout ratio is currently 350.00%.

About Pershing Square

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.