Pershing Square Inc. (PS) – What Are Researchers Thinking About This Stock?

Shares of Pershing Square Inc. (NYSE:PS) have been assigned a consensus recommendation of “Reduce” from the twelve ratings firms that are covering the company, Marketbeat reports. Four investment analysts have rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating on the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $42.00.

A number of equities analysts have issued reports on PS shares. JonesTrading lowered shares of Pershing Square from a “buy” rating to a “hold” rating in a research report on Tuesday, September 29th. Citigroup downgraded shares of Pershing Square from a “neutral” rating to a “sell” rating and set a $45.00 price objective on the stock. in a report on Friday, October 9th. Tigress Financial increased their price objective 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 decreased their target price on shares of Pershing Square from $41.00 to $40.00 and set an “underweight” rating for the company in a research report on Thursday, October 15th. Finally, Bank of America restated an “underperform” rating and set a $38.00 target price (down from $54.00) on shares of Pershing Square in a research report on Tuesday, October 13th.

Hedge Funds Weigh In On Pershing Square

Institutional investors and hedge funds have recently modified their holdings of the stock. Integrated Wealth Concepts LLC purchased a new stake in shares of Pershing Square in the second quarter worth about $132,000. NewEdge Advisors LLC acquired a new stake in Pershing Square during the second quarter worth about $1,702,000. Readystate Asset Management LP acquired a new stake in Pershing Square during the second quarter worth about $822,000. Proficio Capital Partners LLC purchased a new position in Pershing Square during the second quarter valued at approximately $1,459,000. Finally, Ancora Advisors LLC purchased a new position in Pershing Square during the second quarter valued at approximately $302,000.

Pershing Square Stock Performance

Shares of NYSE:PS opened at $44.69 on Friday. Pershing Square has a 52-week low of $22.01 and a 52-week high of $60.40. The stock has a market capitalization of $17.88 billion and a PE ratio of 319.21. The business has a 50-day moving average price of $45.68.

Pershing Square (NYSE:PS) last issued its earnings results on Wednesday, August 12th. The company reported $0.14 EPS for the quarter, beating analysts’ consensus estimates of $0.12 by $0.02. The firm had revenue of $68.03 million during the quarter. Research analysts expect that Pershing Square will post 0.55 EPS for the current fiscal year.

Pershing Square Cuts Dividend

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

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.