Pershing Square (NYSE:PS) Price Target Raised to $41.00

Pershing Square (NYSE:PS) had its price target boosted by Tigress Financial from $39.00 to $41.00 in a research note released on Thursday morning, Marketbeat reports. Tigress Financial currently has a neutral rating on the stock.

Other analysts have also recently issued reports about the company. Royal Bank Of Canada dropped their price target on Pershing Square from $40.00 to $38.00 and set a “sector perform” rating on the stock in a research report on Monday, July 13th. Loop Capital started coverage on Pershing Square in a research note on Tuesday, May 26th. They set a “buy” rating and a $49.00 price objective for the company. Weiss Ratings raised Pershing Square from a “sell (d)” rating to a “sell (d+)” rating in a research report on Tuesday, August 11th. Bank of America began coverage on Pershing Square in a research note on Tuesday, May 26th. They issued a “neutral” rating and a $42.00 target price on the stock. Finally, Wall Street Zen downgraded shares of Pershing Square from a “hold” rating to a “sell” rating in a report on Sunday, June 7th. Two investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $41.33.

Pershing Square Trading Up 4.4%

Shares of NYSE:PS opened at $38.62 on Thursday. The company has a market cap of $15.45 billion and a P/E ratio of 275.86. Pershing Square has a fifty-two week low of $22.01 and a fifty-two week high of $54.94. The firm’s 50-day simple moving average is $36.82.

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

Pershing Square Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 21st. Stockholders of record on Monday, July 13th were given a dividend of $0.122 per share. The ex-dividend date was Monday, July 13th. This represents a $0.49 annualized dividend and a dividend yield of 1.3%. Pershing Square’s payout ratio is currently 350.00%.

Institutional Trading of Pershing Square

Several large investors have recently added to or reduced their stakes in the business. Rivernorth Capital Management LLC acquired a new position in Pershing Square during the 2nd quarter worth $14,787,000. Clal Insurance Enterprises Holdings Ltd acquired a new position in shares of Pershing Square during the second quarter valued at $9,858,000. Equitec Proprietary Markets LLC bought a new stake in shares of Pershing Square during the second quarter valued at about $3,828,000. Proficio Capital Partners LLC bought a new stake in shares of Pershing Square during the second quarter valued at about $1,459,000. Finally, Readystate Asset Management LP acquired a new stake in Pershing Square in the second quarter worth about $822,000.

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.