PJT Partners Inc. (NYSE:PJT) Receives $116.80 Average Price Target from Brokerages

PJT Partners Inc. (NYSE:PJT) has received a consensus rating of “Reduce” from the six research firms that are currently covering the company, Marketbeat reports. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating on the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $116.80.

PJT has been the topic of several recent analyst reports. The Goldman Sachs Group raised their target price 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. JMP Securities raised their target price on shares of PJT Partners from $120.00 to $142.00 and gave the company a “market outperform” rating in a report on Wednesday, July 31st. UBS Group raised their target price on shares of PJT Partners from $85.00 to $93.00 and gave the company a “sell” rating in a report on Tuesday, July 9th. Finally, Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $128.00 target price (up from $108.00) on shares of PJT Partners in a report on Wednesday, July 31st.

Insider Activity

In other news, Director Emily K. Rafferty sold 1,696 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $130.79, for a total value of $221,819.84. Following the sale, the director now directly owns 7,404 shares in the company, valued at approximately $968,369.16. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 10.67% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On PJT Partners

Hedge funds have recently made changes to their positions in the stock. Hsbc Holdings PLC boosted its position in PJT Partners by 11,553.8% during the 4th quarter. Hsbc Holdings PLC now owns 510,089 shares of the financial services provider’s stock worth $52,120,000 after buying an additional 505,712 shares during the period. Champlain Investment Partners LLC acquired a new stake in PJT Partners during the 1st quarter worth approximately $43,029,000. Vanguard Group Inc. boosted its position in PJT Partners by 15.0% during the 4th quarter. Vanguard Group Inc. now owns 2,429,691 shares of the financial services provider’s stock worth $247,513,000 after buying an additional 317,437 shares during the period. Principal Financial Group Inc. boosted its position in PJT Partners by 934.8% during the 4th quarter. Principal Financial Group Inc. now owns 129,872 shares of the financial services provider’s stock worth $13,230,000 after buying an additional 117,322 shares during the period. Finally, Woodson Capital Management LP acquired a new stake in PJT Partners during the 4th quarter worth approximately $8,150,000. 89.23% of the stock is currently owned by institutional investors and hedge funds.

PJT Partners Stock Performance

NYSE:PJT opened at $124.04 on Friday. PJT Partners has a 52 week low of $71.47 and a 52 week high of $136.90. The firm has a market cap of $2.98 billion, a price-to-earnings ratio of 34.17 and a beta of 0.62. The firm’s 50-day simple moving average is $114.52 and its 200 day simple moving average is $104.51.

PJT Partners (NYSE:PJT) last released its quarterly earnings results on Tuesday, July 30th. The financial services provider reported $1.19 EPS for the quarter, topping analysts’ consensus estimates of $0.70 by $0.49. PJT Partners had a net margin of 7.96% and a return on equity of 18.04%. The business had revenue of $360.00 million for the quarter, compared to analyst estimates of $281.93 million. During the same period last year, the firm earned $0.99 earnings per share. PJT Partners’s revenue for the quarter was up 4.0% compared to the same quarter last year. Sell-side analysts anticipate that PJT Partners will post 4.35 EPS for the current year.

PJT Partners Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 18th. Stockholders of record on Wednesday, September 4th will be paid a $0.25 dividend. The ex-dividend date is Wednesday, September 4th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.81%. PJT Partners’s payout ratio is currently 27.55%.

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.