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

PJT Partners (NYSE:PJT) posted its quarterly earnings data on Tuesday. The financial services provider reported $0.93 EPS for the quarter, topping the consensus estimate of $0.74 by $0.19, Briefing.com reports. The firm had revenue of $326.30 million during the quarter, compared to analyst estimates of $313.46 million. PJT Partners had a return on equity of 18.04% and a net margin of 7.96%. PJT Partners’s revenue was up 17.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.78 EPS.

PJT Partners Price Performance

PJT stock opened at $137.88 on Wednesday. The company has a market capitalization of $3.31 billion, a price-to-earnings ratio of 38.20 and a beta of 0.61. PJT Partners has a 1-year low of $76.22 and a 1-year high of $151.10. The business has a 50 day simple moving average of $132.45 and a two-hundred day simple moving average of $116.96.

PJT Partners Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, December 4th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $1.00 dividend on an annualized basis and a yield of 0.73%. PJT Partners’s dividend payout ratio is presently 27.55%.

Insider Transactions at PJT Partners

In related news, Director Emily K. Rafferty sold 1,696 shares of the company’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $130.79, for a total transaction of $221,819.84. Following the completion of the transaction, the director now owns 7,404 shares in the company, valued at approximately $968,369.16. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Emily K. Rafferty sold 1,696 shares of the business’s stock in a transaction dated Thursday, August 1st. The stock was 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 trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Grace Reksten Skaugen sold 2,015 shares of the 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 directly owns 500 shares of the company’s stock, valued at approximately $62,430. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 25,297 shares of company stock valued at $3,092,668. 10.67% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

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

About PJT Partners

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.