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

Pershing Square Inc. (NYSE:PS) has received an average recommendation of “Reduce” from the twelve ratings firms that are currently covering the company, MarketBeat.com reports. Four equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $42.56.

A number of research analysts have recently weighed in on PS shares. JonesTrading cut Pershing Square from a “buy” rating to a “hold” rating in a research report on Tuesday, September 29th. Tigress Financial boosted their price objective on Pershing Square from $39.00 to $41.00 and gave the company a “neutral” rating in a research note on Thursday, September 3rd. Royal Bank Of Canada increased their target price on shares of Pershing Square from $41.00 to $44.00 and gave the stock a “sector perform” rating in a report on Monday, October 5th. Wells Fargo & Company decreased their target price on shares of Pershing Square from $41.00 to $40.00 and set an “underweight” rating on the stock in a research note on Thursday, October 15th. Finally, UBS Group raised their target price on shares of Pershing Square from $39.00 to $44.00 and gave the stock a “neutral” rating in a research note on Friday.

Pershing Square Price Performance

NYSE:PS opened at $46.20 on Friday. The firm’s 50-day moving average is $46.00. Pershing Square has a 52-week low of $22.01 and a 52-week high of $60.40.

Pershing Square (NYSE:PS) last issued its quarterly earnings results on Wednesday, August 12th. The company reported $0.14 EPS for the quarter, topping analysts’ consensus estimates of $0.12 by $0.02. The company had revenue of $68.03 million during the quarter. Equities research analysts predict that Pershing Square will post 0.54 EPS for the current year.

Pershing Square Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 20th. Stockholders of record on Monday, October 12th were paid a $0.1030 dividend. This represents a $0.41 dividend on an annualized basis and a dividend yield of 0.9%. This is a drop from Pershing Square’s previous quarterly dividend of $0.1220. The ex-dividend date of this dividend was Friday, October 9th.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of PS. Rivernorth Capital Management LLC bought a new position in Pershing Square in the 2nd quarter worth approximately $14,787,000. Clal Insurance Enterprises Holdings Ltd purchased a new position in shares of Pershing Square in the second quarter worth $9,858,000. Equitec Proprietary Markets LLC purchased a new position in shares of Pershing Square in the second quarter worth $3,828,000. NewEdge Advisors LLC bought a new position in shares of Pershing Square during the second quarter worth $1,702,000. Finally, Proficio Capital Partners LLC bought a new position in shares of Pershing Square during the second quarter worth $1,459,000.

About Pershing Square

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.