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

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

PJT Partners Price Performance

PJT stock traded down $1.88 during mid-day trading on Wednesday, reaching $136.79. 70,462 shares of the company traded hands, compared to its average volume of 231,565. PJT Partners has a 52-week low of $76.22 and a 52-week high of $151.10. The company has a market capitalization of $3.28 billion, a P/E ratio of 37.75 and a beta of 0.61. The company has a fifty day moving average price of $132.45 and a 200-day moving average price of $116.96.

PJT Partners Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Wednesday, December 4th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.73%. The ex-dividend date is Wednesday, December 4th. PJT Partners’s dividend payout ratio (DPR) is presently 27.55%.

Insider Activity

In related news, Director Emily K. Rafferty sold 1,696 shares of the company’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 transaction, the director now directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other PJT Partners news, Director Emily K. Rafferty sold 1,696 shares of the stock in a transaction that occurred 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 transaction, the director now directly owns 7,404 shares in the company, valued at $968,369.16. This trade 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 is available at this hyperlink. Also, Director Kievdi Don Cornwell sold 11,586 shares of the stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $123.49, for a total value of $1,430,755.14. Following the sale, the director now directly owns 8,339 shares of the company’s stock, valued at approximately $1,029,783.11. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 25,297 shares of company stock worth $3,092,668. 10.67% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

PJT has been the topic of a number of recent analyst reports. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $128.00 price objective (up from $108.00) on shares of PJT Partners in a research note on Wednesday, July 31st. UBS Group boosted their price objective on PJT Partners from $110.00 to $120.00 and gave the company a “sell” rating in a report on Tuesday, October 8th. JMP Securities boosted their price objective on PJT Partners from $142.00 to $150.00 and gave the company a “market outperform” rating in a report on Wednesday, October 9th. Finally, The Goldman Sachs Group boosted their price objective on PJT Partners from $115.00 to $132.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $123.80.

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.