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

Pershing Square Inc. (NYSE:PS) has been assigned a consensus recommendation of “Hold” from the twelve analysts that are covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $40.8889.

Several equities research analysts have recently issued reports on the company. Royal Bank Of Canada lowered their price objective on Pershing Square from $40.00 to $38.00 and set a “sector perform” rating for the company in a research note on Monday, July 13th. Weiss Ratings upgraded Pershing Square from a “sell (d)” rating to a “sell (d+)” rating in a report on Tuesday, August 11th. UBS Group started coverage on Pershing Square in a research report on Tuesday, May 26th. They issued a “neutral” rating and a $39.00 price target for the company. Zacks Research upgraded shares of Pershing Square to a “hold” rating in a research report on Friday, May 29th. Finally, Jefferies Financial Group started 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.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of PS. Ancora Advisors LLC bought a new position in shares of Pershing Square during the second quarter valued at approximately $302,000. Wedbush Securities Inc. bought a new stake in shares of Pershing Square during the 2nd quarter worth approximately $529,000. Hsbc Holdings PLC purchased a new position in Pershing Square during the 2nd quarter valued at $775,000. Readystate Asset Management LP purchased a new position in Pershing Square during the 2nd quarter valued at $822,000. Finally, Proficio Capital Partners LLC bought a new position in Pershing Square in the 2nd quarter valued at $1,459,000.

Pershing Square Trading Down 5.2%

Shares of NYSE:PS opened at $36.53 on Thursday. Pershing Square has a 12 month low of $22.01 and a 12 month high of $54.94. The firm has a 50-day simple moving average of $36.53. The company has a market cap of $14.61 billion and a P/E ratio of 260.93.

Pershing Square (NYSE:PS) last issued its quarterly earnings data on Wednesday, August 12th. The company reported $0.14 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.02. The company had revenue of $68.03 million for the quarter. As a group, equities research analysts predict that Pershing Square will post 0.56 earnings per share for the current fiscal year.

Pershing Square Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 21st. Investors of record on Monday, July 13th were given a $0.122 dividend. 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 dividend payout ratio is 350.00%.

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.