Pershing Square Inc. (NYSE:PS) Stock Now Rated "Reduce" by Wall Street Analysts

Key Points

• Analysts rate Pershing Square “Reduce” on average: Of 12 covering brokerages, four recommend selling, seven recommend holding and one recommends buying. The average 12-month price target is $42.00.
• Shares fell 4.5% to $44.69, with a market capitalization of $17.88 billion and a notably high P/E ratio of 319.21. The stock has traded between $22.01 and $60.40 over the past year.
• Pershing Square cut its quarterly dividend to $0.103 from $0.122, resulting in an annualized yield of about 0.9%. Its latest quarterly EPS of $0.14 exceeded the $0.12 analyst consensus.

Pershing Square Inc. (NYSE:PS - Get Free Report) has received an average recommendation of "Reduce" from the twelve brokerages that are currently covering the company, MarketBeat.com reports. Four analysts have rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $42.00.

Several research analysts recently issued reports on PS shares. JonesTrading lowered Pershing Square from a "buy" rating to a "hold" rating in a research report on Tuesday, September 29th. Citigroup downgraded Pershing Square from a "neutral" rating to a "sell" rating and set a $45.00 price target for the company. in a report on Friday, October 9th. Wall Street Zen lowered Pershing Square from a "hold" rating to a "sell" rating in a research note on Sunday, October 11th. Tigress Financial boosted their price target on Pershing Square from $39.00 to $41.00 and gave the stock a "neutral" rating in a research note on Thursday, September 3rd. Finally, Wells Fargo & Company cut their price objective on shares of Pershing Square from $41.00 to $40.00 and set an "underweight" rating on the stock in a report on Thursday, October 15th.

Pershing Square Trading Down 4.5%

Shares of PS opened at $44.69 on Friday. The company has a 50 day moving average price of $45.68. Pershing Square has a twelve month low of $22.01 and a twelve month high of $60.40. The firm has a market capitalization of $17.88 billion and a P/E ratio of 319.21.

Pershing Square (NYSE:PS - Get Free Report) last issued its quarterly earnings results on Wednesday, August 12th. The company reported $0.14 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.12 by $0.02. The business had revenue of $68.03 million for the quarter. As a group, research analysts anticipate that Pershing Square will post 0.55 earnings per share for the current fiscal year.

Pershing Square Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 20th. Investors of record on Monday, October 12th were paid a $0.1030 dividend. This is a drop from Pershing Square's previous quarterly dividend of $0.1220. The ex-dividend date was Friday, October 9th. This represents a $0.41 dividend on an annualized basis and a yield of 0.9%. Pershing Square's dividend payout ratio (DPR) is 292.86%.

Institutional Inflows and Outflows

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

Pershing Square Company Profile

Pershing Square Holdings, Ltd. is an investment holding company that seeks long-term capital appreciation through a concentrated portfolio of investments in publicly traded companies. The company is managed by Pershing Square Capital Management, L.P., an investment management firm that typically takes significant positions in a limited number of businesses and engages with their management teams and boards.

Pershing Square's investment approach emphasizes fundamental research, long-term ownership and active involvement with portfolio companies.

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