PJT Partners (NYSE:PJT – Get Free Report) announced its earnings results on Tuesday. The financial services provider reported $0.93 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.19, Briefing.com reports. PJT Partners had a net margin of 7.96% and a return on equity of 18.04%. The business had revenue of $326.30 million for the quarter, compared to the consensus estimate of $313.46 million. During the same quarter in the prior year, the firm posted $0.78 earnings per share. The business’s revenue for the quarter was up 17.2% on a year-over-year basis.
PJT Partners Stock Performance
Shares of NYSE PJT opened at $137.88 on Wednesday. PJT Partners has a 52-week low of $76.22 and a 52-week high of $151.10. The firm has a market capitalization of $3.31 billion, a price-to-earnings ratio of 38.20 and a beta of 0.61. The stock has a 50 day moving average price of $132.45 and a 200 day moving average price of $116.96.
PJT Partners Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Wednesday, December 4th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.73%. The ex-dividend date is Wednesday, December 4th. PJT Partners’s dividend payout ratio is presently 27.55%.
Insiders Place Their Bets
Analyst Upgrades and Downgrades
PJT has been the topic of several analyst reports. The Goldman Sachs Group upped their price target on shares of PJT Partners from $115.00 to $132.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $128.00 target price (up previously from $108.00) on shares of PJT Partners in a research note on Wednesday, July 31st. JMP Securities raised their price target on PJT Partners from $142.00 to $150.00 and gave the stock a “market outperform” rating in a research note on Wednesday, October 9th. Finally, UBS Group upped their price objective on PJT Partners from $110.00 to $120.00 and gave the company a “sell” rating in a research report on Tuesday, October 8th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, PJT Partners presently has a consensus rating of “Hold” and a consensus target price of $123.80.
Check Out Our Latest Stock Analysis on PJT Partners
PJT Partners Company Profile
PJT Partners Inc, an investment bank, provides various strategic and capital markets advisory, restructuring and special situations, and shareholder advisory services to corporations, financial sponsors, institutional investors, and governments worldwide. It offers advisory services to clients on various transactions, including mergers and acquisitions (M&A), spin-offs, activism defense, contested M&A, joint ventures, minority investments, and divestitures.
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