Pershing Square (NYSE:PS) Trading Up 5.4% - Time to Buy?

Key Points

• Pershing Square shares rose 5.4% to $39.70, reaching as high as $40.16, although trading volume was 79% below the average session volume.
• Analysts maintain a broadly neutral outlook: the stock has a consensus “Hold” rating and an average price target of $41.33, implying modest upside.
• The company exceeded quarterly earnings expectations with EPS of $0.14 versus $0.12 expected and pays a $0.122 quarterly dividend, equivalent to a 1.2% yield.

Pershing Square Inc. (NYSE:PS - Get Free Report)'s stock price shot up 5.4% on Monday . The stock traded as high as $40.16 and last traded at $39.70. Approximately 72,553 shares traded hands during trading, a decline of 79% from the average session volume of 351,058 shares. The stock had previously closed at $37.67.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. Weiss Ratings upgraded Pershing Square from a "sell (d)" rating to a "sell (d+)" rating in a research report on Tuesday, August 11th. Tigress Financial raised their price target on shares of Pershing Square from $39.00 to $41.00 and gave the stock a "neutral" rating in a research note on Thursday, September 3rd. Wells Fargo & Company boosted their price objective on shares of Pershing Square from $34.00 to $36.00 and gave the company an "equal weight" rating in a research report on Thursday, September 3rd. Zacks Research raised shares of Pershing Square to a "hold" rating in a research note on Friday, May 29th. Finally, Jefferies Financial Group initiated coverage on Pershing Square in a report on Monday, May 25th. They set a "hold" rating and a $40.00 price objective on the stock. Two research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $41.33.

Pershing Square Price Performance

The company's 50 day simple moving average is $37.36. The stock has a market cap of $15.92 billion and a price-to-earnings ratio of 284.36.

Pershing Square (NYSE:PS - Get Free Report) last posted its quarterly earnings data 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 business had revenue of $68.03 million for the quarter. Equities analysts expect that Pershing Square Inc. will post 0.56 EPS for the current 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 paid a dividend of $0.122 per share. The ex-dividend date was Monday, July 13th. This represents a $0.49 annualized dividend and a yield of 1.2%. Pershing Square's dividend payout ratio is presently 350.00%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of PS. Integrated Wealth Concepts LLC acquired a new position in shares of Pershing Square in the 2nd quarter valued at about $132,000. Ancora Advisors LLC acquired a new stake in Pershing Square during the second quarter worth about $302,000. Wedbush Securities Inc. bought a new position in Pershing Square in the second quarter worth about $529,000. Hsbc Holdings PLC acquired a new position in Pershing Square in the second quarter valued at approximately $775,000. Finally, Readystate Asset Management LP bought a new position in shares of Pershing Square during the second quarter valued at approximately $822,000.

Pershing Square Company Profile

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.

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