PJT Partners (NYSE:PJT) Posts Earnings Results, Beats Estimates 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 analysts’ consensus estimates of $0.74 by $0.19, Briefing.com reports. The company had revenue of $326.30 million for 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%. The firm’s quarterly revenue was up 17.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.78 earnings per share.

PJT Partners Trading Down 1.2 %

Shares of NYSE:PJT traded down $1.65 during mid-day trading on Wednesday, hitting $137.02. 62,663 shares of the company traded hands, compared to its average volume of 231,550. The stock has a market cap of $3.29 billion, a P/E ratio of 37.75 and a beta of 0.61. PJT Partners has a 12-month low of $76.22 and a 12-month high of $151.10. The stock has a 50-day moving average price of $132.45 and a two-hundred day moving average price of $116.96.

PJT Partners Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Wednesday, December 4th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $1.00 annualized dividend and a dividend yield of 0.73%. PJT Partners’s dividend payout ratio is 27.55%.

Insider Activity at PJT Partners

In related news, insider Ji-Yeun Lee sold 10,000 shares of PJT Partners 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 transaction, the insider now owns 61,433 shares of the company’s stock, valued at $7,301,312.05. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other PJT Partners news, insider Ji-Yeun Lee sold 10,000 shares of the business’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $118.85, for a total value of $1,188,500.00. Following the transaction, the insider now owns 61,433 shares of the company’s stock, valued at approximately $7,301,312.05. The trade was 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 this link. Also, Director Emily K. Rafferty sold 1,696 shares of the business’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $130.79, for a total value of $221,819.84. Following the completion of 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 position. The disclosure for this sale can be found here. Insiders have sold a total of 25,297 shares of company stock valued at $3,092,668 over the last 90 days. Insiders own 10.67% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on PJT. UBS Group lifted their price objective on PJT Partners from $110.00 to $120.00 and gave the stock a “sell” rating in a research note on Tuesday, October 8th. The Goldman Sachs Group lifted their target price on PJT Partners from $115.00 to $132.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $128.00 target price (up from $108.00) on shares of PJT Partners in a report on Wednesday, July 31st. Finally, JMP Securities lifted their target price on PJT Partners from $142.00 to $150.00 and gave the stock a “market outperform” rating in a report on Wednesday, October 9th. Two equities research 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target 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.