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

Pershing Square (NYSE:PS) released its quarterly earnings data on Wednesday. The company reported $0.14 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 Trading Up 2.2%

NYSE PS traded up $0.85 during trading hours on Thursday, reaching $39.65. The company’s stock had a trading volume of 64,098 shares, compared to its average volume of 377,629. The business’s 50-day moving average price is $34.46. Pershing Square has a fifty-two week low of $22.01 and a fifty-two week high of $54.94.

Pershing Square Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 21st. Investors of record on Monday, July 13th were given a $0.122 dividend. The ex-dividend date was Monday, July 13th. This represents a $0.49 annualized dividend and a dividend yield of 1.2%.

Analysts Set New Price Targets

Several equities research analysts recently commented on PS shares. Jefferies Financial Group initiated coverage on shares of Pershing Square in a research note on Monday, May 25th. They set a “hold” rating and a $40.00 price target on the stock. JonesTrading began coverage on Pershing Square in a research note on Wednesday, July 8th. They issued a “buy” rating and a $39.00 target price on the stock. Loop Capital began coverage on Pershing Square in a research note on Tuesday, May 26th. They set a “buy” rating and a $49.00 price target for the company. Tigress Financial initiated coverage on Pershing Square in a report on Monday, July 27th. They set a “neutral” rating and a $39.00 price target for the company. Finally, Bank of America initiated coverage on shares of Pershing Square in a research report on Tuesday, May 26th. They issued a “neutral” rating and a $42.00 price objective on the stock. Three investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price 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.