PJT Partners Inc. (NYSE:PJT) Plans $0.25 Quarterly Dividend

PJT Partners Inc. (NYSE:PJT) announced a quarterly dividend on Tuesday, July 28th. Stockholders of record on Wednesday, September 2nd will be paid a dividend of 0.25 per share by the financial services provider on Wednesday, September 16th. This represents a c) annualized dividend and a dividend yield of 0.6%. The ex-dividend date of this dividend is Wednesday, September 2nd.

PJT Partners has raised its dividend by an average of 0.4%annually over the last three years. PJT Partners has a dividend payout ratio of 14.5% indicating that its dividend is sufficiently covered by earnings. Research analysts expect PJT Partners to earn $8.80 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 11.4%.

PJT Partners Stock Up 3.0%

Shares of PJT Partners stock traded up $5.09 during trading hours on Tuesday, hitting $173.91. 717,626 shares of the company’s stock traded hands, compared to its average volume of 388,553. PJT Partners has a twelve month low of $127.73 and a twelve month high of $195.62. The company has a market cap of $4.49 billion, a PE ratio of 25.35 and a beta of 0.85. The stock has a 50 day simple moving average of $158.47 and a 200-day simple moving average of $156.59.

PJT Partners (NYSE:PJT) last released its quarterly earnings results on Tuesday, July 28th. The financial services provider reported $1.97 EPS for the quarter, topping the consensus estimate of $1.57 by $0.40. The business had revenue of $486.29 million for the quarter, compared to analysts’ expectations of $425.28 million. PJT Partners had a return on equity of 32.00% and a net margin of 10.32%.The company’s revenue was up 19.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.54 earnings per share. As a group, equities research analysts predict that PJT Partners will post 7.5 EPS for the current year.

Analysts Set New Price Targets

PJT has been the topic of a number of recent analyst reports. UBS Group upped their target price on PJT Partners from $160.00 to $162.00 and gave the company a “neutral” rating in a research report on Wednesday, July 8th. Zacks Research upgraded shares of PJT Partners from a “strong sell” rating to a “hold” rating in a research note on Monday, June 29th. The Goldman Sachs Group raised shares of PJT Partners from a “neutral” rating to a “buy” rating and set a $170.00 price target on the stock in a report on Wednesday, April 1st. Weiss Ratings reiterated a “hold (c)” rating on shares of PJT Partners in a research note on Friday, May 29th. Finally, Keefe, Bruyette & Woods raised their price objective on shares of PJT Partners from $175.00 to $185.00 and gave the stock an “outperform” rating in a report on Friday, July 10th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $175.33.

About PJT Partners

PJT Partners is a global advisory-focused investment bank that delivers strategic advisory, restructuring and special situations, and capital solutions to corporations, partnerships, and governments. The firm operates through three primary business segments: Strategic Advisory, which covers mergers and acquisitions, shareholder advisory, and capital markets advisory; Restructuring and Special Situations, which provides advice on debt and liability management, distressed mergers and acquisitions, and financial restructurings; and Park Hill, the firm’s dedicated capital-raising and secondary advisory business for private equity, real estate, hedge funds, and infrastructure.

The Strategic Advisory practice at PJT Partners assists clients with complex transactions such as cross-border mergers, spin-offs, divestitures, and takeover defenses, drawing on deep industry expertise and global reach.