Pershing Square (NYSE:PS) Posts Quarterly Earnings Results, Beats Estimates By $0.02 EPS

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

Pershing Square Stock Down 2.1%

PS stock traded down $0.84 during midday trading on Wednesday, hitting $38.59. The stock had a trading volume of 81,944 shares, compared to its average volume of 382,129. The company’s fifty day moving average price is $34.39. Pershing Square has a 1-year low of $22.01 and a 1-year high of $54.94.

Pershing Square Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 21st. Shareholders 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 yield of 1.3%.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. Zacks Research upgraded shares of Pershing Square to a “hold” rating in a research report on Friday, May 29th. Loop Capital initiated coverage on shares of Pershing Square in a report on Tuesday, May 26th. They set a “buy” rating and a $49.00 price target on the stock. Bank of America assumed coverage on shares of Pershing Square in a research note on Tuesday, May 26th. They issued a “neutral” rating and a $42.00 price objective on the stock. JonesTrading initiated coverage on Pershing Square in a research report on Wednesday, July 8th. They set a “buy” rating and a $39.00 target price for the company. Finally, Wall Street Zen downgraded Pershing Square from a “hold” rating to a “sell” rating in a report on Sunday, June 7th. Three analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Pershing Square presently has a consensus rating of “Hold” and a consensus price target of $40.56.

Pershing Square Company Profile

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.