Pershing Square (NYSE:PS) Releases Earnings Results, Beats Expectations By $0.02 EPS

Key Points

• Pershing Square beat quarterly earnings expectations, reporting $0.14 EPS versus the $0.12 consensus estimate, while revenue totaled $68.03 million.
• The company paid a quarterly dividend of $0.122 per share, equivalent to approximately $0.49 annually and a 1.3% yield.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and an average price target of $40.56; shares recently traded at $38.59.

Pershing Square (NYSE:PS - Get Free Report) announced its earnings results on Wednesday. The company reported $0.14 EPS for the quarter, topping the consensus estimate of $0.12 by $0.02, Zacks reports. The company had revenue of $68.03 million for the quarter.

Pershing Square Stock Performance

Shares of Pershing Square stock traded down $0.84 during trading on Wednesday, reaching $38.59. 81,944 shares of the company's stock were exchanged, compared to its average volume of 382,129. Pershing Square has a 1-year low of $22.01 and a 1-year high of $54.94. The company has a 50-day simple moving average of $34.39.

Pershing Square Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 21st. Shareholders of record on Monday, July 13th were issued a $0.122 dividend. This represents a $0.49 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend was Monday, July 13th.

Analyst Upgrades and Downgrades

Several research firms have weighed in on PS. Citigroup lowered their price target on shares of Pershing Square from $50.00 to $45.00 and set a "buy" rating on the stock in a report on Monday, July 13th. Jefferies Financial Group started coverage on Pershing Square in a research report on Monday, May 25th. They issued a "hold" rating and a $40.00 target price on the stock. Bank of America began coverage on Pershing Square in a research note on Tuesday, May 26th. They set a "neutral" rating and a $42.00 target price on the stock. JonesTrading initiated coverage on Pershing Square in a research note on Wednesday, July 8th. They issued a "buy" rating and a $39.00 price target for the company. Finally, UBS Group began coverage on Pershing Square in a report on Tuesday, May 26th. They issued a "neutral" rating and a $39.00 price objective on the stock. Three investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Pershing Square currently has a consensus rating of "Hold" and an average target price of $40.56.

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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