PJT Partners (NYSE:PJT) Releases Quarterly Earnings Results, Beats Expectations By $0.11 EPS

PJT Partners (NYSE:PJT - Get Free Report) announced its quarterly earnings results on Tuesday. The financial services provider reported $1.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.94 by $0.11, Zacks reports. The business had revenue of $324.50 million during the quarter, compared to analyst estimates of $361.26 million. PJT Partners had a return on equity of 24.03% and a net margin of 9.00%. The firm's revenue was down 1.5% on a year-over-year basis. During the same period in the previous year, the company earned $0.98 EPS.

PJT Partners Stock Performance

Shares of PJT traded up $3.37 during mid-day trading on Friday, hitting $143.22. The company's stock had a trading volume of 429,221 shares, compared to its average volume of 242,985. The firm has a market capitalization of $3.34 billion, a PE ratio of 29.23 and a beta of 0.76. The stock's 50-day moving average is $139.19 and its two-hundred day moving average is $152.48. PJT Partners has a one year low of $97.74 and a one year high of $190.28.

PJT Partners Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Wednesday, June 4th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.70%. The ex-dividend date is Wednesday, June 4th. PJT Partners's dividend payout ratio (DPR) is currently 17.64%.

Insider Transactions at PJT Partners

In related news, General Counsel David Adam Travin sold 5,000 shares of PJT Partners stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $141.74, for a total transaction of $708,700.00. Following the sale, the general counsel now directly owns 2,288 shares of the company's stock, valued at $324,301.12. This trade represents a 68.61 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 11.71% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on PJT. Keefe, Bruyette & Woods increased their price target on shares of PJT Partners from $152.00 to $177.00 and gave the stock a "market perform" rating in a research note on Wednesday, February 5th. Citizens Jmp downgraded shares of PJT Partners from a "strong-buy" rating to a "hold" rating in a research report on Monday, January 13th. Finally, JMP Securities cut PJT Partners from an "outperform" rating to a "market perform" rating in a research report on Monday, January 13th. Five investment analysts have rated the stock with a hold rating, According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $158.50.

About PJT Partners

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.