PJT Partners (NYSE:PJT) Announces Earnings Results, Beats Expectations By $0.19 EPS

PJT Partners (NYSE:PJT) posted its earnings results on Tuesday. The financial services provider reported $0.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $326.30 million during the quarter, compared to the consensus estimate of $313.46 million. During the same quarter in the prior year, the company earned $0.78 EPS. The company’s revenue was up 17.2% on a year-over-year basis.

PJT Partners Stock Up 0.9 %

PJT Partners stock traded up $1.21 during midday trading on Thursday, hitting $139.03. The company’s stock had a trading volume of 5,140 shares, compared to its average volume of 232,157. The stock’s 50-day moving average price is $132.74 and its 200-day moving average price is $117.11. The company has a market capitalization of $3.33 billion, a PE ratio of 37.97 and a beta of 0.61. PJT Partners has a 12 month low of $76.22 and a 12 month high of $151.10.

PJT Partners Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Wednesday, December 4th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.72%. The ex-dividend date is Wednesday, December 4th. PJT Partners’s dividend payout ratio (DPR) is presently 27.55%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on PJT shares. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $128.00 price objective (up previously from $108.00) on shares of PJT Partners in a research report on Wednesday, July 31st. The Goldman Sachs Group increased their price objective on shares of PJT Partners from $115.00 to $132.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st. JMP Securities increased their price objective on shares of PJT Partners from $142.00 to $150.00 and gave the company a “market outperform” rating in a research report on Wednesday, October 9th. Finally, UBS Group increased their price objective on shares of PJT Partners from $110.00 to $120.00 and gave the company a “sell” rating in a research report on Tuesday, October 8th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $123.80.

Insiders Place Their Bets

In other PJT Partners news, Director Kievdi Don Cornwell sold 11,586 shares of the business’s stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $123.49, for a total transaction of $1,430,755.14. Following the sale, the director now owns 8,339 shares in the company, valued at approximately $1,029,783.11. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other PJT Partners news, Director Kievdi Don Cornwell sold 11,586 shares of PJT Partners stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $123.49, for a total transaction of $1,430,755.14. Following 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 position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Grace Reksten Skaugen sold 2,015 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $124.86, for a total value of $251,592.90. Following the completion of the sale, the director now directly owns 500 shares of the company’s stock, valued at approximately $62,430. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 23,601 shares of company stock worth $2,870,848. Company insiders own 10.67% 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.