PJT Partners (NYSE:PJT) Announces Earnings Results

PJT Partners (NYSE:PJT) 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

In other news, insider Ji-Yeun Lee sold 10,000 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $118.85, for a total transaction of $1,188,500.00. Following the transaction, the insider now owns 61,433 shares of the company’s stock, valued at approximately $7,301,312.05. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Kievdi Don Cornwell sold 11,586 shares of the business’s stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $123.49, for a total value of $1,430,755.14. Following the completion of the transaction, the director now owns 8,339 shares of the company’s stock, valued at $1,029,783.11. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Ji-Yeun Lee sold 10,000 shares of the stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $118.85, for a total value of $1,188,500.00. Following the sale, the insider now directly owns 61,433 shares in the company, valued at $7,301,312.05. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 25,297 shares of company stock worth $3,092,668 in the last ninety days. 10.67% of the stock is owned by company insiders.

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.

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.