Pershing Square (NYSE:PS) Issues Earnings Results

Pershing Square (NYSE:PS) issued its earnings results on Wednesday. The company reported $0.14 EPS for the quarter, topping analysts’ consensus estimates of $0.12 by $0.02, Zacks reports. The company had revenue of $68.03 million for the quarter.

Pershing Square Stock Down 4.8%

Shares of PS traded down $2.00 during mid-day trading on Friday, hitting $39.40. 92,802 shares of the company traded hands, compared to its average volume of 375,789. The firm’s 50 day simple moving average is $34.54. Pershing Square has a 1-year low of $22.01 and a 1-year high of $54.94.

Pershing Square Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 21st. Stockholders of record on Monday, July 13th were issued 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 1.2%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on PS. Tigress Financial began coverage on Pershing Square in a report on Monday, July 27th. They issued a “neutral” rating and a $39.00 price target for the company. Jefferies Financial Group initiated coverage on Pershing Square in a research report on Monday, May 25th. They set a “hold” rating and a $40.00 target price for the company. Bank of America assumed coverage on Pershing Square in a research report on Tuesday, May 26th. They set a “neutral” rating and a $42.00 price target on the stock. Zacks Research raised shares of Pershing Square to a “hold” rating in a research note on Friday, May 29th. Finally, Wall Street Zen downgraded shares of Pershing Square from a “hold” rating to a “sell” rating in a research report on Sunday, June 7th. Three analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $40.56.

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.