PJT Partners (NYSE:PJT) Stock Price Down 8.3% – Should You Sell?

Shares of PJT Partners Inc. (NYSE:PJT) were down 8.3% on Tuesday . The company traded as low as $146.00 and last traded at $144.23. Approximately 72,546 shares traded hands during mid-day trading, a decline of 71% from the average daily volume of 253,209 shares. The stock had previously closed at $157.28.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Keefe, Bruyette & Woods increased their price objective on shares of PJT Partners from $152.00 to $177.00 and gave the company a “market perform” rating in a research note on Wednesday, February 5th. Citizens Jmp downgraded shares of PJT Partners from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 13th. UBS Group upgraded shares of PJT Partners from a “sell” rating to a “neutral” rating and lifted their price target for the stock from $130.00 to $175.00 in a report on Friday, December 6th. Finally, JMP Securities downgraded shares of PJT Partners from an “outperform” rating to a “market perform” rating in a research note on Monday, January 13th. Five investment analysts have rated the stock with a hold rating, According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $158.50.

PJT Partners Stock Down 6.1 %

The stock has a market cap of $3.50 billion, a price-to-earnings ratio of 30.16 and a beta of 0.67. The stock has a fifty day moving average of $163.48 and a two-hundred day moving average of $150.20.

PJT Partners (NYSE:PJT) last announced its quarterly earnings results on Tuesday, February 4th. The financial services provider reported $1.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.19 by $0.71. The firm had revenue of $477.30 million during the quarter, compared to the consensus estimate of $384.64 million. PJT Partners had a return on equity of 24.03% and a net margin of 9.00%. The firm’s quarterly revenue was up 45.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.96 EPS. Equities research analysts anticipate that PJT Partners Inc. will post 6.2 EPS for the current fiscal year.

PJT Partners Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.68%. The ex-dividend date of this dividend is Wednesday, March 5th. PJT Partners’s payout ratio is 20.41%.

Institutional Investors Weigh In On PJT Partners

A number of hedge funds have recently bought and sold shares of PJT. Creative Planning increased its stake in shares of PJT Partners by 84.8% in the third quarter. Creative Planning now owns 5,305 shares of the financial services provider’s stock worth $707,000 after buying an additional 2,435 shares during the last quarter. Private Advisor Group LLC acquired a new stake in shares of PJT Partners in the 3rd quarter valued at about $293,000. International Assets Investment Management LLC lifted its position in shares of PJT Partners by 13,233.8% during the third quarter. International Assets Investment Management LLC now owns 10,667 shares of the financial services provider’s stock worth $1,422,000 after purchasing an additional 10,587 shares during the last quarter. New York State Teachers Retirement System grew its stake in PJT Partners by 0.9% in the third quarter. New York State Teachers Retirement System now owns 10,688 shares of the financial services provider’s stock worth $1,425,000 after purchasing an additional 100 shares in the last quarter. Finally, Amalgamated Bank lifted its holdings in PJT Partners by 3.1% during the 3rd quarter. Amalgamated Bank now owns 7,015 shares of the financial services provider’s stock worth $935,000 after buying an additional 214 shares during the last quarter. Institutional investors and hedge funds own 89.23% of the company’s stock.

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.