Pershing Square Inc. (NYSE:PS) Stock Has Consensus Price Target of $42.00 According to Analysts

Shares of Pershing Square Inc. (NYSE:PS) have received an average recommendation of “Reduce” from the twelve research firms that are presently covering the company, MarketBeat.com reports. Four analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $42.56.

Several research firms have recently weighed in on PS. Bank of America downgraded Pershing Square from a “neutral” rating to an “underperform” rating and cut their price target for the stock from $54.00 to $38.00 in a research note on Tuesday, October 13th. Wells Fargo & Company dropped their price objective on Pershing Square from $41.00 to $40.00 and set an “underweight” rating on the stock in a report on Thursday, October 15th. Wall Street Zen lowered Pershing Square from a “hold” rating to a “sell” rating in a research report on Sunday, October 11th. JonesTrading cut shares of Pershing Square from a “buy” rating to a “hold” rating in a report on Tuesday, September 29th. Finally, Weiss Ratings raised shares of Pershing Square from a “sell (d)” rating to a “sell (d+)” rating in a research report on Tuesday, August 11th.

Pershing Square Trading Up 1.5%

Shares of NYSE PS opened at $49.31 on Friday. The firm’s 50-day moving average is $46.35. Pershing Square has a 1-year low of $22.01 and a 1-year high of $60.40.

Pershing Square (NYSE:PS) last released its quarterly earnings data 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 company had revenue of $68.03 million for the quarter. Equities analysts anticipate that Pershing Square will post 0.54 EPS for the current year.

Pershing Square Cuts Dividend

The firm also recently announced 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 is a negative change from Pershing Square’s previous quarterly dividend of $0.1220. This represents a $0.41 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend was Friday, October 9th. Pershing Square’s payout ratio is 292.86%.

Institutional Investors Weigh In On Pershing Square

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

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.