Why Is Pershing Square Stock Falling on Tuesday?
Pershing Square Inc. (NYSE: PS ) stock fell about 8% on Tuesday, trading near $54.40, after Jones Trading downgraded it from Buy to Hold. The decline comes after a rally that pushed the stock to an all-time high near $60. • Pershing Square stock is feeling bearish pressure. What’s behind PS decline? Analyst Ratings Two other firms updated their views on Sept. 3. Tigress Financia l rated the stock Neutral and raised its price target to $41. A price target is the price an analyst expects a stock to reach. Wells Fargo rated it Equal-Weight and raised its target to $36. ’s consensus rating for the stock is Neutral, based on six analysts. The average price forecast is $41, which shows a downside of 25.3%. Read Also: 30-Year Yield Hits 2002 High; Credit-Score Giant FICO Plunges 27%: Stock Market Today Quarterly Earnings Results On Aug. 12, Pershing Square reported a quarterly loss of 11 cents per share. Analysts had estimated earnings of 12 cents per share. Quarterly sales were $54.177 million, compared with the consensus estimate of $74.440 million, a miss of 27.22%, according to Pro. Sector Performance Pershing Square is significantly underperforming the broader Financials sector today
Pershing Square Inc. 40, after Jones Trading downgraded it from Buy to Hold. The decline comes after a rally that pushed the stock to an all-time high near $60. • Pershing Square stock is feeling bearish pressure.
What’s behind PS decline? Analyst Ratings Two other firms updated their views on Sept. 3. Tigress Financia l rated the stock Neutral and raised its price target to $41.
A price target is the price an analyst expects a stock to reach. Wells Fargo rated it Equal-Weight and raised its target to $36. ’s consensus rating for the stock is Neutral, based on six analysts. 3%.
Read Also: 30-Year Yield Hits 2002 High; Credit-Score Giant FICO Plunges 27%: Stock Market Today Quarterly Earnings Results On Aug. 12, Pershing Square reported a quarterly loss of 11 cents per share. Analysts had estimated earnings of 12 cents per share. 22%, according to Pro.
98 percentage points of relative weakness. Financials rank seven out of 11 sectors in today’s performance, placing the sector in the middle of the pack. 92%. 60% over the past 90 days.
That backdrop matters because when the sector is already soft, single-name drawdowns can accelerate as traders reduce exposure to the whole theme. Company Context Pershing Square is a main alternative asset manager that uses a disciplined, research-intensive approach to fundamental value investing, aiming to preserve and grow permanent capital at high rates of return. The strategy also includes opportunistic asymmetric hedges, which can change how the stock trades versus traditional asset managers depending on market conditions. 26 at the time of publication on Tuesday, according to Pro data.
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