Pershing Square (NYSE:PS) Shares Down 6.9% - What's Next?

Key Points

• Pershing Square shares fell 6.9% to $38.53 in Friday trading, with volume substantially below the stock’s average daily activity.
• Analysts have a generally cautious view: the stock carries an average “Hold” rating and a $40.56 consensus price target, with recent coverage largely assigning neutral or hold ratings.
• The company exceeded quarterly earnings expectations, reporting $0.14 EPS versus $0.12 expected, while maintaining a quarterly dividend of $0.122, or approximately $0.49 annually and a 1.2% yield.

Pershing Square Inc. (NYSE:PS - Get Free Report)'s stock price dropped 6.9% on Friday . The company traded as low as $38.30 and last traded at $38.53. Approximately 104,975 shares were traded during mid-day trading, a decline of 72% from the average daily volume of 375,962 shares. The stock had previously closed at $41.40.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. UBS Group began coverage on Pershing Square in a research note on Tuesday, May 26th. They issued a "neutral" rating and a $39.00 price objective on the stock. Tigress Financial assumed coverage on shares of Pershing Square in a research report on Monday, July 27th. They issued a "neutral" rating and a $39.00 price target on the stock. Zacks Research upgraded shares of Pershing Square to a "hold" rating in a research note on Friday, May 29th. Jefferies Financial Group began coverage on shares of Pershing Square in a research note on Monday, May 25th. They issued a "hold" rating and a $40.00 target price on the stock. Finally, JonesTrading initiated coverage on shares of Pershing Square in a report on Wednesday, July 8th. They issued a "buy" rating and a $39.00 target price on the stock. Three equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $40.56.

Pershing Square Stock Down 5.6%

The firm has a fifty day moving average of $34.54.

Pershing Square (NYSE:PS - Get Free Report) last posted its quarterly earnings results on Wednesday, August 12th. The company reported $0.14 earnings per share (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, equities research analysts expect that Pershing Square Inc. will post 0.53 EPS for the current fiscal year.

Pershing Square Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 21st. Shareholders of record on Monday, July 13th were given a $0.122 dividend. The ex-dividend date was Monday, July 13th. This represents a $0.49 dividend on an annualized basis and a dividend yield of 1.2%.

Institutional Investors Weigh In On Pershing Square

An institutional investor recently bought a new position in Pershing Square stock. Clal Insurance Enterprises Holdings Ltd bought a new stake in shares of Pershing Square Inc. (NYSE:PS - Free Report) during the 2nd quarter, according to its most recent filing with the SEC. The fund bought 300,000 shares of the company's stock, valued at approximately $9,858,000. Clal Insurance Enterprises Holdings Ltd owned approximately 0.08% of Pershing Square as of its most recent filing with the SEC.

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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