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

PJT Partners (NYSE:PJT) issued its quarterly earnings results on Tuesday. The financial services provider reported $0.93 earnings per share (EPS) for the quarter, beating 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 company had revenue of $326.30 million during the quarter, compared to analysts’ expectations of $313.46 million. During the same period last year, the company posted $0.78 EPS. PJT Partners’s revenue was up 17.2% on a year-over-year basis.

PJT Partners Trading Down 1.4 %

Shares of NYSE PJT traded down $1.88 during mid-day trading on Wednesday, reaching $136.79. The company had a trading volume of 70,462 shares, compared to its average volume of 231,565. The business’s 50-day moving average is $132.45 and its 200-day moving average is $116.96. The stock has a market cap of $3.28 billion, a price-to-earnings ratio of 37.75 and a beta of 0.61. PJT Partners has a 52 week low of $76.22 and a 52 week high of $151.10.

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 issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.73%. The ex-dividend date of this dividend is Wednesday, December 4th. PJT Partners’s payout ratio is presently 27.55%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on PJT. UBS Group lifted their price target 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. JMP Securities upped 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 report on Wednesday, October 9th. The Goldman Sachs Group boosted their target price on shares of PJT Partners from $115.00 to $132.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. Finally, Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $128.00 target price (up previously from $108.00) on shares of PJT Partners in a report on Wednesday, July 31st. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the stock. According to MarketBeat, PJT Partners presently has a consensus rating of “Hold” and an average price target of $123.80.

Insider Transactions at PJT Partners

In other PJT Partners news, insider Ji-Yeun Lee sold 10,000 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $118.85, for a total transaction of $1,188,500.00. Following the transaction, the insider now directly owns 61,433 shares in the company, valued at $7,301,312.05. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Kievdi Don Cornwell sold 11,586 shares of the 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 directly owns 8,339 shares of the company’s stock, valued at $1,029,783.11. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Ji-Yeun Lee sold 10,000 shares of the firm’s stock in a transaction that occurred 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 directly owns 61,433 shares of the company’s stock, valued at $7,301,312.05. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 25,297 shares of company stock worth $3,092,668. 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.