Pershing Square Inc. (NYSE:PS) Given Consensus Recommendation of “Hold” by Brokerages

Pershing Square Inc. (NYSE:PS) has been given a consensus recommendation of “Hold” by the twelve research firms that are covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and two have issued a buy rating on the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $41.3333.

Several research analysts recently weighed in on PS shares. Weiss Ratings raised Pershing Square from a “sell (d)” rating to a “sell (d+)” rating in a research report on Tuesday, August 11th. Jefferies Financial Group began coverage on Pershing Square in a research note on Monday, May 25th. They set a “hold” rating and a $40.00 price target for the company. UBS Group started 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. Loop Capital started coverage on Pershing Square in a research note on Tuesday, May 26th. They issued a “buy” rating and a $49.00 price objective on the stock. Finally, Royal Bank Of Canada decreased their target price on Pershing Square from $40.00 to $38.00 and set a “sector perform” rating for the company in a report on Monday, July 13th.

Institutional Investors Weigh In On Pershing Square

Several large investors have recently made changes to their positions in the business. Integrated Wealth Concepts LLC acquired a new position in shares of Pershing Square during the 2nd quarter valued at $132,000. Ancora Advisors LLC acquired a new stake in Pershing Square in the 2nd quarter valued at $302,000. Wedbush Securities Inc. purchased a new position in Pershing Square in the second quarter valued at about $529,000. Hsbc Holdings PLC purchased a new position in Pershing Square in the second quarter valued at about $775,000. Finally, Readystate Asset Management LP acquired a new position in shares of Pershing Square during the second quarter worth about $822,000.

Pershing Square Trading Down 11.8%

Pershing Square stock opened at $36.58 on Thursday. Pershing Square has a 1 year low of $22.01 and a 1 year high of $54.94. The firm has a 50 day moving average of $37.18. The stock has a market capitalization of $14.63 billion and a P/E ratio of 261.29.

Pershing Square (NYSE:PS) last announced its quarterly earnings results on Wednesday, August 12th. The company reported $0.14 earnings per share for the quarter, beating analysts’ consensus estimates of $0.12 by $0.02. The company had revenue of $68.03 million during the quarter. As a group, analysts anticipate that Pershing Square will post 0.56 EPS for the current fiscal year.

Pershing Square Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 21st. Shareholders of record on Monday, July 13th were given a dividend of $0.122 per share. This represents a $0.49 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend was Monday, July 13th. Pershing Square’s payout ratio is 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.