PJT Partners Inc. to Post Q3 2024 Earnings of $0.74 Per Share, Seaport Res Ptn Forecasts (NYSE:PJT)

PJT Partners Inc. (NYSE:PJT) – Seaport Res Ptn reduced their Q3 2024 EPS estimates for shares of PJT Partners in a research report issued to clients and investors on Wednesday, October 9th. Seaport Res Ptn analyst J. Mitchell now anticipates that the financial services provider will post earnings per share of $0.74 for the quarter, down from their previous estimate of $0.77. The consensus estimate for PJT Partners’ current full-year earnings is $4.35 per share. Seaport Res Ptn also issued estimates for PJT Partners’ Q4 2024 earnings at $1.43 EPS and Q3 2025 earnings at $1.27 EPS.

PJT Partners (NYSE:PJT) last issued its quarterly earnings results on Tuesday, July 30th. The financial services provider reported $1.19 EPS for the quarter, beating 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 analysts’ expectations of $281.93 million. During the same period last year, the business earned $0.99 earnings per share. The business’s quarterly revenue was up 4.0% on a year-over-year basis.

A number of other equities analysts have also recently commented on the company. JMP Securities lifted their price target on PJT Partners from $142.00 to $150.00 and gave the stock a “market outperform” rating in a research note on Wednesday, October 9th. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $128.00 target price (up from $108.00) on shares of PJT Partners in a report on Wednesday, July 31st. UBS Group boosted their target price on PJT Partners from $110.00 to $120.00 and gave the company a “sell” rating in a research note on Tuesday, October 8th. Finally, The Goldman Sachs Group boosted 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. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $123.80.

PJT Partners Trading Up 1.0 %

Shares of NYSE:PJT opened at $145.10 on Monday. The stock has a market capitalization of $3.48 billion, a P/E ratio of 39.97 and a beta of 0.61. PJT Partners has a 12-month low of $71.47 and a 12-month high of $146.93. The stock’s 50-day moving average price is $127.44 and its 200-day moving average price is $113.17.

Institutional Trading of PJT Partners

Several hedge funds have recently bought and sold shares of the stock. SouthState Corp bought a new stake in shares of PJT Partners during the 2nd quarter valued at $26,000. Opal Wealth Advisors LLC bought a new position in shares of PJT Partners during the 2nd quarter valued at approximately $30,000. Fidelis Capital Partners LLC purchased a new position in shares of PJT Partners in the first quarter valued at $39,000. GAMMA Investing LLC raised its stake in PJT Partners by 76.4% during the third quarter. GAMMA Investing LLC now owns 337 shares of the financial services provider’s stock valued at $45,000 after purchasing an additional 146 shares in the last quarter. Finally, EntryPoint Capital LLC lifted its position in PJT Partners by 27.6% during the first quarter. EntryPoint Capital LLC now owns 1,662 shares of the financial services provider’s stock valued at $157,000 after purchasing an additional 359 shares during the last quarter. Institutional investors own 89.23% of the company’s stock.

Insider Activity at PJT Partners

In related 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 sale, the insider now directly owns 61,433 shares of the company’s stock, valued at approximately $7,301,312.05. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, Director Grace Reksten Skaugen sold 2,015 shares of the firm’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 transaction, the director now owns 500 shares of the company’s stock, valued at approximately $62,430. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Ji-Yeun Lee sold 10,000 shares of the 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 completion of the transaction, the insider now owns 61,433 shares in the company, valued at $7,301,312.05. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 25,297 shares of company stock valued at $3,092,668 in the last 90 days. Corporate insiders own 10.67% of the company’s stock.

PJT Partners Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 18th. Investors of record on Wednesday, September 4th were paid a $0.25 dividend. The ex-dividend date was Wednesday, September 4th. This represents a $1.00 annualized dividend and a dividend yield of 0.69%. 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.