Pershing Square (NYSE:PS) Releases Quarterly Earnings Results, Misses Expectations By $0.01 EPS

by · The Markets Daily

Pershing Square (NYSE:PS – Get Free Report) issued its quarterly earnings results on Monday. The company reported $0.12 EPS for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.01), FiscalAI reports. The company had revenue of $56.60 million during the quarter.

Pershing Square Trading Up 1.3%

Shares of NYSE PS traded up $0.58 during midday trading on Monday, reaching $46.24. 276,251 shares of the company were exchanged, compared to its average volume of 407,208. The stock has a market capitalization of $18.50 billion and a PE ratio of 330.29. Pershing Square has a one year low of $22.01 and a one year high of $60.40. The company’s 50-day moving average price is $46.43.

Pershing Square Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 20th. Investors of record on Monday, October 12th were issued a dividend of $0.1030 per share. 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. This represents a $0.41 annualized dividend and a dividend yield of 0.9%. Pershing Square’s payout ratio is presently 292.86%.

Institutional Trading of Pershing Square

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Integrated Wealth Concepts LLC bought a new position in Pershing Square during the second quarter worth $132,000. Ancora Advisors LLC acquired a new stake in shares of Pershing Square in the 2nd quarter valued at about $302,000. Wedbush Securities Inc. bought a new stake in Pershing Square in the 2nd quarter valued at about $529,000. Hsbc Holdings PLC bought a new stake in Pershing Square in the 2nd quarter valued at about $775,000. Finally, Readystate Asset Management LP acquired a new position in Pershing Square during the 2nd quarter worth approximately $822,000.

Analyst Ratings Changes

A number of brokerages have issued reports on PS. Tigress Financial increased their price objective on shares of Pershing Square from $39.00 to $41.00 and gave the stock a “neutral” rating in a research note on Thursday, September 3rd. Weiss Ratings upgraded shares of Pershing Square from a “sell (d)” rating to a “sell (d+)” rating in a research report on Tuesday, August 11th. UBS Group upped their price target on shares of Pershing Square from $39.00 to $44.00 and gave the stock a “neutral” rating in a report on Friday, October 23rd. Wall Street Zen lowered shares of Pershing Square from a “hold” rating to a “sell” rating in a research report on Sunday, October 11th. Finally, Wells Fargo & Company lowered their price objective on shares of Pershing Square from $41.00 to $40.00 and set an “underweight” rating for the company in a research report on Thursday, October 15th. One analyst has rated the stock with a Buy rating, seven have issued a Hold rating and four have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Pershing Square currently has an average rating of “Reduce” and a consensus price target of $42.56.

Get Our Latest Report on PS

Pershing Square Company Profile

(Get Free Report)

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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