Brokerages forecast that PJT Partners Inc. (NYSE:PJT) will report $326.90 million in sales for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for PJT Partners' earnings, with the highest sales estimate coming in at $334.00 million and the lowest estimate coming in at $319.80 million. PJT Partners reported sales of $322.00 million in the same quarter last year, which would suggest a positive year over year growth rate of 1.5%. The business is expected to issue its next quarterly earnings report on Tuesday, February 1st.
According to Zacks, analysts expect that PJT Partners will report full-year sales of $1.01 billion for the current year, with estimates ranging from $998.48 million to $1.01 billion. For the next financial year, analysts anticipate that the firm will post sales of $1.17 billion. Zacks Investment Research's sales calculations are an average based on a survey of sell-side analysts that that provide coverage for PJT Partners.
PJT Partners (NYSE:PJT) last issued its quarterly earnings results on Tuesday, October 26th. The financial services provider reported $0.98 earnings per share (EPS) for the quarter, missing the Thomson Reuters' consensus estimate of $1.22 by ($0.24). The business had revenue of $231.30 million during the quarter, compared to the consensus estimate of $263.82 million. PJT Partners had a net margin of 11.73% and a return on equity of 28.61%. During the same quarter in the previous year, the business posted $1.36 EPS.
PJT has been the topic of several recent research reports. Zacks Investment Research raised PJT Partners from a "hold" rating to a "buy" rating and set a $85.00 target price on the stock in a report on Thursday. Keefe, Bruyette & Woods downgraded PJT Partners from an "outperform" rating to a "market perform" rating and set a $92.00 price objective on the stock. in a research note on Tuesday, November 16th. Finally, JMP Securities reissued a "buy" rating and issued a $98.00 price objective on shares of PJT Partners in a research note on Monday, September 20th.
In other PJT Partners news, Director Grace Reksten Skaugen bought 500 shares of the stock in a transaction dated Thursday, November 4th. The shares were bought at an average cost of $84.30 per share, for a total transaction of $42,150.00. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 3.20% of the company's stock.
A number of institutional investors have recently made changes to their positions in PJT. William Blair Investment Management LLC increased its position in shares of PJT Partners by 76,899.4% during the third quarter. William Blair Investment Management LLC now owns 639,865 shares of the financial services provider's stock valued at $50,620,000 after buying an additional 639,034 shares during the period. Millennium Management LLC increased its position in shares of PJT Partners by 191.2% during the third quarter. Millennium Management LLC now owns 437,217 shares of the financial services provider's stock valued at $34,588,000 after buying an additional 287,062 shares during the period. Clearbridge Investments LLC increased its position in shares of PJT Partners by 10.6% during the second quarter. Clearbridge Investments LLC now owns 987,571 shares of the financial services provider's stock valued at $70,493,000 after buying an additional 94,646 shares during the period. Grandeur Peak Global Advisors LLC increased its position in shares of PJT Partners by 34.3% during the second quarter. Grandeur Peak Global Advisors LLC now owns 280,824 shares of the financial services provider's stock valued at $20,045,000 after buying an additional 71,748 shares during the period. Finally, Fort Washington Investment Advisors Inc. OH increased its position in shares of PJT Partners by 61.4% during the third quarter. Fort Washington Investment Advisors Inc. OH now owns 156,588 shares of the financial services provider's stock valued at $12,388,000 after buying an additional 59,588 shares during the period. Institutional investors and hedge funds own 68.98% of the company's stock.
Shares of PJT stock opened at $73.11 on Friday. The firm has a market capitalization of $1.77 billion, a P/E ratio of 16.58 and a beta of 0.92. PJT Partners has a twelve month low of $64.81 and a twelve month high of $89.50. The stock's fifty day simple moving average is $76.63 and its 200 day simple moving average is $77.74.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 22nd. Shareholders of record on Wednesday, December 8th were paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.27%. The ex-dividend date was Tuesday, December 7th. PJT Partners's dividend payout ratio (DPR) is presently 4.54%.
PJT Partners Company Profile
PJT Partners, Inc is a holding company, which engages in the provision of advisory-investment solutions. It specializes in strategic advisory, shareholder engagement, restructuring and special situations and private fund advisory and placement services to corporations, financial sponsors, institutional investors, and governments.
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