Pershing Square Inc. (NYSE:PS – Get Free Report) passed above its 50-day moving average during trading on Tuesday. The stock has a 50-day moving average of $46.00 and traded as high as $46.87. Pershing Square shares last traded at $46.20, with a volume of 205,971 shares trading hands.
Analyst Ratings Changes
Several analysts have recently issued reports on PS shares. JonesTrading lowered shares of Pershing Square from a “buy” rating to a “hold” rating in a research note on Tuesday, September 29th. Tigress Financial boosted their price target on shares of Pershing Square from $39.00 to $41.00 and gave the stock a “neutral” rating in a report on Thursday, September 3rd. 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. Citigroup downgraded shares of Pershing Square from a “neutral” rating to a “sell” rating and set a $45.00 price objective for the company. in a research report on Friday, October 9th. Finally, UBS Group increased their price objective on shares of Pershing Square from $39.00 to $44.00 and gave the company a “neutral” rating in a research note on Friday, October 23rd. One analyst has rated the stock with a Buy rating, seven have given a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat, Pershing Square presently has an average rating of “Reduce” and an average price target of $42.56.
View Our Latest Stock Analysis on PS
Pershing Square Price Performance
The company has a 50 day simple moving average of $46.35.
Pershing Square (NYSE:PS – Get Free Report) last posted its quarterly earnings results on Wednesday, August 12th. The company reported $0.14 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.02. The company had revenue of $68.03 million for the quarter. On average, equities analysts expect that Pershing Square Inc. will post 0.54 EPS for the current year.
Pershing Square Cuts Dividend
The business also recently declared a quarterly dividend, which was paid on Tuesday, October 20th. Stockholders of record on Monday, October 12th were paid a dividend of $0.1030 per share. This represents a $0.41 annualized dividend and a dividend yield of 0.8%. 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%.
Hedge Funds Weigh In On Pershing Square
Several institutional investors and hedge funds have recently bought and sold shares of PS. Integrated Wealth Concepts LLC bought a new position in shares of Pershing Square during the 2nd quarter valued at about $132,000. Ancora Advisors LLC purchased a new position in shares of Pershing Square during the 2nd quarter valued at about $302,000. Wedbush Securities Inc. bought a new stake in Pershing Square in the 2nd quarter worth approximately $529,000. Hsbc Holdings PLC bought a new stake in Pershing Square in the 2nd quarter worth approximately $775,000. Finally, Readystate Asset Management LP purchased a new stake in Pershing Square in the second quarter worth 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.
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