PJT Partners Inc. (NYSE:PJT) Given Average Rating of "Hold" by Brokerages

Key Points

• PJT Partners has an average analyst rating of “Hold” from seven covering firms, with mixed views that include two sells, two holds, two buys, and one strong buy. The average 1-year price target is $173.33.
• The company recently beat quarterly earnings and revenue expectations, reporting EPS of $1.54 versus $1.51 expected and revenue of $418.2 million versus $409.38 million expected. Revenue rose 28.9% year over year.
• PJT Partners also announced a quarterly dividend of $0.25 per share to be paid on June 17, while recent insider transactions included share sales by the CFO and general counsel. Institutional ownership remains high at 89.23%.

PJT Partners Inc. (NYSE:PJT - Get Free Report) has been given an average rating of "Hold" by the seven research firms that are covering the company, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation, two have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $173.3333.

A number of equities research analysts have weighed in on the company. The Goldman Sachs Group raised PJT Partners from a "neutral" rating to a "buy" rating and set a $170.00 price objective on the stock in a report on Wednesday, April 1st. UBS Group lifted their price objective on PJT Partners from $152.00 to $160.00 and gave the company a "neutral" rating in a report on Wednesday, April 29th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of PJT Partners in a report on Friday, May 29th. Zacks Research lowered PJT Partners from a "hold" rating to a "strong sell" rating in a report on Friday, May 1st. Finally, Keefe, Bruyette & Woods lifted their price objective on PJT Partners from $166.00 to $175.00 and gave the company an "outperform" rating in a report on Wednesday, April 29th.

PJT Partners Stock Up 2.8%

Shares of PJT stock opened at $161.72 on Wednesday. The stock has a market capitalization of $4.18 billion, a PE ratio of 23.57 and a beta of 0.85. PJT Partners has a 52-week low of $127.73 and a 52-week high of $195.62. The stock's 50-day moving average price is $153.39 and its 200 day moving average price is $159.18.

PJT Partners (NYSE:PJT - Get Free Report) last issued its quarterly earnings results on Tuesday, April 28th. The financial services provider reported $1.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.51 by $0.03. The firm had revenue of $418.20 million for the quarter, compared to analysts' expectations of $409.38 million. PJT Partners had a return on equity of 32.00% and a net margin of 10.32%.The firm's revenue for the quarter was up 28.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.05 EPS. Analysts expect that PJT Partners will post 7.5 earnings per share for the current fiscal year.

PJT Partners Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 17th. Shareholders of record on Wednesday, June 3rd will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend is Wednesday, June 3rd. PJT Partners's payout ratio is currently 14.58%.

Insider Buying and Selling

In other PJT Partners news, CFO Helen T. Meates sold 8,000 shares of PJT Partners stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $153.19, for a total value of $1,225,520.00. Following the sale, the chief financial officer owned 58,466 shares of the company's stock, valued at approximately $8,956,406.54. The trade was a 12.04% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel David Adam Travin sold 3,000 shares of PJT Partners stock in a transaction that occurred on Wednesday, May 6th. The shares were sold at an average price of $152.43, for a total value of $457,290.00. Following the completion of the sale, the general counsel directly owned 2,052 shares in the company, valued at $312,786.36. This represents a 59.38% decrease in their position. The SEC filing for this sale provides additional information. 10.98% of the stock is currently owned by insiders.

Institutional Investors Weigh In On PJT Partners

Several institutional investors have recently modified their holdings of PJT. Aster Capital Management DIFC Ltd purchased a new stake in shares of PJT Partners during the 3rd quarter worth approximately $33,000. Allworth Financial LP boosted its stake in shares of PJT Partners by 85.8% during the 4th quarter. Allworth Financial LP now owns 288 shares of the financial services provider's stock worth $48,000 after acquiring an additional 133 shares in the last quarter. Cassaday & Co Wealth Management LLC purchased a new stake in shares of PJT Partners during the 1st quarter worth approximately $50,000. State of Wyoming purchased a new stake in shares of PJT Partners during the 2nd quarter worth approximately $63,000. Finally, Kestra Advisory Services LLC purchased a new stake in shares of PJT Partners during the 4th quarter worth approximately $65,000. Hedge funds and other institutional investors own 89.23% of the company's stock.

PJT Partners Company Profile

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.

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