Pershing Square (NYSE:PS) Releases Earnings Results, Beats Expectations By $0.02 EPS

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

Pershing Square Price Performance

Shares of PS traded down $0.84 during midday trading on Wednesday, reaching $38.59. The stock had a trading volume of 81,944 shares, compared to its average volume of 382,129. The company’s 50 day simple moving average is $34.39. Pershing Square has a one year low of $22.01 and a one 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 paid a $0.122 dividend. The ex-dividend date was Monday, July 13th. This represents a $0.49 dividend on an annualized basis and a yield of 1.3%.

Analyst Upgrades and Downgrades

Several brokerages have commented on PS. Zacks Research raised shares of Pershing Square to a “hold” rating in a research note on Friday, May 29th. JonesTrading started coverage on Pershing Square in a report on Wednesday, July 8th. They set a “buy” rating and a $39.00 price objective on the stock. UBS Group initiated coverage on Pershing Square in a report on Tuesday, May 26th. They set a “neutral” rating and a $39.00 target price for the company. Tigress Financial assumed coverage on Pershing Square in a research note on Monday, July 27th. They issued a “neutral” rating and a $39.00 price target on the stock. Finally, Oppenheimer initiated coverage on Pershing Square in a report on Tuesday, May 26th. They issued a “market perform” rating on the stock. Three research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Pershing Square presently has a consensus rating of “Hold” and a consensus 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.