PJT Partners (NYSE:PJT) Earns Outperform Rating from Analysts at BMO Capital Markets

BMO Capital Markets initiated coverage on shares of PJT Partners (NYSE:PJT) in a research report report published on Friday, MarketBeat Ratings reports. The firm issued an outperform rating and a $205.00 price target on the financial services provider’s stock.

Other analysts have also issued reports about the company. Wolfe Research reiterated an “underperform” rating on shares of PJT Partners in a research report on Thursday, July 10th. Keefe, Bruyette & Woods lifted their price target on shares of PJT Partners from $161.00 to $199.00 and gave the stock a “market perform” rating in a research report on Monday, July 14th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $182.25.

PJT Partners Price Performance

Shares of PJT Partners stock opened at $179.80 on Friday. The firm has a 50 day simple moving average of $180.36 and a 200 day simple moving average of $161.51. PJT Partners has a fifty-two week low of $119.76 and a fifty-two week high of $190.27. The firm has a market cap of $4.37 billion, a P/E ratio of 30.89 and a beta of 0.76.

PJT Partners (NYSE:PJT) last announced its quarterly earnings data on Tuesday, July 29th. The financial services provider reported $1.54 EPS for the quarter, beating analysts’ consensus estimates of $1.36 by $0.18. The firm had revenue of $731.09 billion for the quarter, compared to analyst estimates of $343.11 million. PJT Partners had a return on equity of 25.61% and a net margin of 10.45%.The business’s quarterly revenue was up 13.0% compared to the same quarter last year. During the same period last year, the company earned $1.19 EPS. On average, sell-side analysts expect that PJT Partners will post 6.2 EPS for the current year.

PJT Partners Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 17th. Stockholders of record on Wednesday, September 3rd were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.6%. The ex-dividend date was Wednesday, September 3rd. PJT Partners’s payout ratio is presently 17.18%.

Insider Buying and Selling

In related news, General Counsel David Adam Travin sold 2,288 shares of the stock in a transaction that occurred on Thursday, July 31st. The shares were sold at an average price of $178.06, for a total value of $407,401.28. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Grace Reksten Skaugen sold 1,504 shares of the business’s stock in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $176.89, for a total transaction of $266,042.56. Following the transaction, the director owned 500 shares of the company’s stock, valued at approximately $88,445. This represents a 75.05% decrease in their position. The disclosure for this sale can be found here. Company insiders own 11.75% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of PJT. New York State Teachers Retirement System boosted its holdings in shares of PJT Partners by 11.4% in the first quarter. New York State Teachers Retirement System now owns 12,253 shares of the financial services provider’s stock valued at $1,689,000 after buying an additional 1,254 shares during the period. Millennium Management LLC bought a new stake in PJT Partners in the 4th quarter valued at $555,000. Voya Investment Management LLC boosted its stake in PJT Partners by 31.1% in the 1st quarter. Voya Investment Management LLC now owns 17,429 shares of the financial services provider’s stock worth $2,403,000 after purchasing an additional 4,136 shares during the period. Principal Financial Group Inc. increased its holdings in PJT Partners by 2.6% during the 1st quarter. Principal Financial Group Inc. now owns 143,579 shares of the financial services provider’s stock worth $19,797,000 after purchasing an additional 3,645 shares in the last quarter. Finally, GAMMA Investing LLC raised its stake in shares of PJT Partners by 18,294.4% in the 1st quarter. GAMMA Investing LLC now owns 82,039 shares of the financial services provider’s stock valued at $11,312,000 after purchasing an additional 81,593 shares during the period. Institutional investors own 89.23% of the company’s stock.

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.