PJT Partners (NYSE:PJT) Releases Quarterly Earnings Results, Beats Expectations By $0.53 EPS

PJT Partners (NYSE:PJT) announced its quarterly earnings results on Thursday. The financial services provider reported $0.98 EPS for the quarter, topping the consensus estimate of $0.45 by $0.53, Briefing.com reports. PJT Partners had a return on equity of 17.44% and a net margin of 7.57%. The business had revenue of $329.39 million for the quarter, compared to analyst estimates of $229.32 million. During the same quarter in the previous year, the company earned $0.54 EPS. The company’s quarterly revenue was up 64.7% on a year-over-year basis.

PJT Partners Price Performance

PJT traded up $1.07 during trading on Friday, hitting $99.53. The company’s stock had a trading volume of 339,091 shares, compared to its average volume of 292,952. The firm’s 50 day moving average price is $96.57 and its 200-day moving average price is $93.78. The stock has a market cap of $2.38 billion, a PE ratio of 27.42 and a beta of 0.67. PJT Partners has a twelve month low of $59.61 and a twelve month high of $107.35.

PJT Partners Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Wednesday, June 5th will be issued a $0.25 dividend. The ex-dividend date is Wednesday, June 5th. This represents a $1.00 annualized dividend and a yield of 1.00%. PJT Partners’s dividend payout ratio (DPR) is presently 27.55%.

Insider Buying and Selling at PJT Partners

In related news, General Counsel David Adam Travin sold 5,000 shares of the stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $93.21, for a total value of $466,050.00. Following the completion of the sale, the general counsel now directly owns 1,541 shares in the company, valued at approximately $143,636.61. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other PJT Partners news, CFO Helen T. Meates sold 12,926 shares of the company’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $105.51, for a total value of $1,363,822.26. Following the completion of the transaction, the chief financial officer now directly owns 48,821 shares of the company’s stock, valued at approximately $5,151,103.71. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, General Counsel David Adam Travin sold 5,000 shares of the company’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $93.21, for a total transaction of $466,050.00. Following the completion of the transaction, the general counsel now directly owns 1,541 shares of the company’s stock, valued at $143,636.61. The disclosure for this sale can be found here. In the last three months, insiders sold 27,926 shares of company stock worth $2,875,672. Insiders own 10.67% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on PJT shares. JMP Securities reaffirmed a “market outperform” rating and issued a $110.00 target price on shares of PJT Partners in a research note on Tuesday, April 9th. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $99.00 target price (down previously from $108.00) on shares of PJT Partners in a research note on Tuesday, January 9th. Finally, UBS Group reaffirmed a “sell” rating and issued a $75.00 target price (down previously from $100.00) on shares of PJT Partners in a research note on Tuesday, March 26th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. According to MarketBeat, PJT Partners has a consensus rating of “Hold” and a consensus price target of $93.25.

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.