PJT Partners (NYSE:PJT) Issues Quarterly Earnings Results

PJT Partners (NYSE:PJT) issued its earnings results on Tuesday. The financial services provider reported $0.93 earnings per share for the quarter, topping analysts’ consensus estimates of $0.91 by $0.02, Briefing.com reports. PJT Partners had a net margin of 8.03% and a return on equity of 18.98%. The firm had revenue of $326.30 million during the quarter, compared to analyst estimates of $313.46 million. During the same quarter last year, the business earned $0.78 earnings per share. The company’s quarterly revenue was up 17.2% on a year-over-year basis.

PJT Partners Trading Up 0.4 %

Shares of PJT stock opened at $139.55 on Friday. PJT Partners has a twelve month low of $77.90 and a twelve month high of $151.10. The stock has a fifty day simple moving average of $133.33 and a two-hundred day simple moving average of $117.59. The stock has a market capitalization of $3.32 billion, a price-to-earnings ratio of 35.42 and a beta of 0.61.

PJT Partners Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Wednesday, December 4th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $1.00 annualized dividend and a dividend yield of 0.72%. PJT Partners’s dividend payout ratio (DPR) is 25.38%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on PJT shares. The Goldman Sachs Group boosted their price target on shares of PJT Partners from $115.00 to $132.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $128.00 target price (up previously from $108.00) on shares of PJT Partners in a research report on Wednesday, July 31st. JMP Securities lifted their price target on shares of 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 boosted their price objective on shares of PJT Partners from $110.00 to $120.00 and gave the stock a “sell” rating in a report on Tuesday, October 8th. Two equities 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. According to data from MarketBeat.com, PJT Partners presently has an average rating of “Hold” and an average target price of $123.80.

Insider Transactions at PJT Partners

In other news, Director Kievdi Don Cornwell sold 11,586 shares of the business’s stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $123.49, for a total transaction of $1,430,755.14. Following the sale, the director now directly 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 Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Ji-Yeun Lee sold 10,000 shares of PJT Partners stock in a transaction dated Tuesday, September 3rd. The stock was 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 approximately $7,301,312.05. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Kievdi Don Cornwell sold 11,586 shares of the company’s stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $123.49, for a total transaction of $1,430,755.14. Following the sale, the director now directly owns 8,339 shares of the company’s stock, valued at approximately $1,029,783.11. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 23,601 shares of company stock valued at $2,870,848 in the last 90 days. Insiders own 11.71% 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.