Tigress Financial Issues Positive Forecast for Pershing Square (NYSE:PS) Stock Price

Pershing Square (NYSE:PS) had its price target upped by Tigress Financial from $41.00 to $54.00 in a research note issued to investors on Thursday,Benzinga reports. Tigress Financial currently has a neutral rating on the stock.

Other research analysts have also issued research reports about the stock. Bank of America lowered shares of Pershing Square from a “neutral” rating to an “underperform” rating and lowered their target price for the stock from $54.00 to $38.00 in a research note on Tuesday, October 13th. Citigroup downgraded shares of Pershing Square from a “neutral” rating to a “sell” rating and set a $45.00 price target on the stock. in a research note on Friday, October 9th. Weiss Ratings upgraded shares of Pershing Square from a “sell (d)” rating to a “sell (d+)” rating in a report on Tuesday, August 11th. Wall Street Zen lowered shares of Pershing Square from a “hold” rating to a “sell” rating in a report on Sunday, October 11th. Finally, UBS Group increased their price objective on shares of Pershing Square from $39.00 to $44.00 and gave the stock a “neutral” rating in a research report on Friday, October 23rd. One equities research analyst has rated the stock with a Buy rating, seven have given a Hold rating and four have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Reduce” and a consensus target price of $44.11.

Pershing Square Trading Down 4.8%

Shares of Pershing Square stock opened at $50.28 on Thursday. Pershing Square has a 52 week low of $22.01 and a 52 week high of $60.40. The company has a fifty day simple moving average of $47.01. The firm has a market cap of $20.11 billion and a price-to-earnings ratio of 359.14.

Pershing Square (NYSE:PS) last issued its quarterly earnings data on Monday, November 2nd. The company reported $0.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.01). The company had revenue of $56.60 million during the quarter. On average, research analysts expect that Pershing Square will post 0.50 earnings per share for the current year.

Pershing Square Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 20th. Investors of record on Monday, October 12th were issued a $0.1030 dividend. The ex-dividend date was Friday, October 9th. This represents a $0.41 annualized dividend and a dividend yield of 0.8%. This is a drop from Pershing Square’s previous quarterly dividend of $0.1220. Pershing Square’s dividend payout ratio (DPR) is presently 292.86%.

Hedge Funds Weigh In On Pershing Square

A number of hedge funds and other institutional investors have recently bought and sold shares of PS. Integrated Wealth Concepts LLC acquired a new position in Pershing Square in the 2nd quarter valued at about $132,000. Ancora Advisors LLC purchased a new stake in Pershing Square during the second quarter worth about $302,000. Wedbush Securities Inc. purchased a new stake in Pershing Square during the second quarter worth about $529,000. Hsbc Holdings PLC acquired a new stake in shares of Pershing Square during the second quarter worth about $775,000. Finally, Readystate Asset Management LP acquired a new stake in shares of Pershing Square during the second quarter worth about $822,000.

Pershing Square Company Profile

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.