PJT Partners (NYSE:PJT) Posts Earnings Results, Beats Estimates By $0.53 EPS

PJT Partners (NYSE:PJT) announced its earnings results on Thursday. The financial services provider reported $0.98 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.53, Briefing.com reports. PJT Partners had a net margin of 7.57% and a return on equity of 17.44%. The business had revenue of $329.39 million during the quarter, compared to the consensus estimate of $229.32 million. During the same period in the prior year, the firm earned $0.54 earnings per share. The business’s quarterly revenue was up 64.7% compared to the same quarter last year.

PJT Partners Stock Performance

Shares of NYSE PJT traded up $1.07 during midday trading on Friday, hitting $99.53. The company’s stock had a trading volume of 339,091 shares, compared to its average volume of 292,952. PJT Partners has a 1-year low of $59.61 and a 1-year high of $107.35. The firm’s fifty day moving average price is $96.57 and its 200-day moving average price is $93.78. The firm has a market cap of $2.38 billion, a P/E ratio of 27.42 and a beta of 0.67.

PJT Partners Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Wednesday, June 5th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Wednesday, June 5th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.00%. PJT Partners’s dividend payout ratio (DPR) is 27.55%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on PJT shares. UBS Group reissued a “sell” rating and issued a $75.00 price objective (down from $100.00) on shares of PJT Partners in a research report on Tuesday, March 26th. The Goldman Sachs Group reissued a “neutral” rating and issued a $99.00 price target (down previously from $108.00) on shares of PJT Partners in a report on Tuesday, January 9th. Finally, JMP Securities restated a “market outperform” rating and set a $110.00 price objective on shares of PJT Partners in a report on Tuesday, April 9th. 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 company. According to data from MarketBeat, PJT Partners currently has a consensus rating of “Hold” and a consensus price target of $93.25.

Insider Buying and Selling

In related news, CFO Helen T. Meates sold 12,926 shares of the firm’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $105.51, for a total value of $1,363,822.26. Following the sale, the chief financial officer now directly owns 48,821 shares in the company, valued at approximately $5,151,103.71. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, CFO Helen T. Meates sold 12,926 shares of the company’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $105.51, for a total value of $1,363,822.26. Following the completion of the sale, the chief financial officer now directly owns 48,821 shares of the company’s stock, valued at approximately $5,151,103.71. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, General Counsel David Adam Travin sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $93.21, for a total value of $466,050.00. Following the completion of the sale, the general counsel now owns 1,541 shares of the company’s stock, valued at $143,636.61. The disclosure for this sale can be found here. Insiders have sold a total of 27,926 shares of company stock worth $2,875,672 over the last quarter. 10.67% of the stock is owned by company insiders.

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.