PJT Partners (NYSE:PJT) Issues Quarterly Earnings Results

PJT Partners (NYSE:PJT) posted its earnings results on Tuesday. The financial services provider reported $1.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.19 by $0.71, Zacks reports. PJT Partners had a return on equity of 18.79% and a net margin of 8.03%. The firm had revenue of $477.30 million during the quarter, compared to analysts’ expectations of $384.64 million. During the same period in the previous year, the firm earned $0.96 earnings per share. The company’s revenue was up 45.3% on a year-over-year basis.

PJT Partners Stock Up 5.2 %

NYSE PJT opened at $173.98 on Wednesday. The firm’s 50 day moving average is $160.59 and its 200-day moving average is $144.05. The company has a market capitalization of $4.12 billion, a PE ratio of 44.16 and a beta of 0.67. PJT Partners has a 12-month low of $88.51 and a 12-month high of $190.28.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Keefe, Bruyette & Woods cut their price objective on PJT Partners from $159.00 to $152.00 and set a “market perform” rating on the stock in a report on Monday, January 13th. JMP Securities lowered shares of PJT Partners from an “outperform” rating to a “market perform” rating in a research note on Monday, January 13th. Citizens Jmp downgraded shares of PJT Partners from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 13th. Finally, UBS Group raised shares of PJT Partners from a “sell” rating to a “neutral” rating and boosted their price objective for the company from $130.00 to $175.00 in a research report on Friday, December 6th. Five equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $152.25.

Insider Buying and Selling

In related news, General Counsel David Adam Travin sold 1,541 shares of the company’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $159.18, for a total transaction of $245,296.38. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Kenneth C. Whitney sold 1,725 shares of the stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $159.75, for a total value of $275,568.75. Following the transaction, the director now directly owns 9,100 shares of the company’s stock, valued at $1,453,725. This trade represents a 15.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 4,766 shares of company stock worth $762,980. 11.71% of the stock is owned by 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.