PJT Partners (NYSE:PJT) Issues Earnings Results, Beats Expectations By $0.40 EPS

Key Points

• PJT Partners beat quarterly expectations: The company reported $1.97 in EPS versus the $1.57 consensus estimate, while revenue reached $486.29 million, up 19.5% year over year and above forecasts of $425.28 million.
• Analyst sentiment remains mixed: Goldman Sachs upgraded the stock to “buy,” while other firms maintained neutral or hold ratings; the consensus rating is “Hold” with a $175.33 price target.
• Shares were largely unchanged: PJT opened at $168.86, with a market capitalization of approximately $4.36 billion. Institutional investors own 89.23% of the company, while insiders recently reported share sales.

PJT Partners (NYSE:PJT - Get Free Report) released its quarterly earnings data on Tuesday. The financial services provider reported $1.97 earnings per share for the quarter, topping analysts' consensus estimates of $1.57 by $0.40, FiscalAI reports. PJT Partners had a net margin of 10.32% and a return on equity of 32.00%. The company had revenue of $486.29 million during the quarter, compared to analyst estimates of $425.28 million. During the same period in the prior year, the firm earned $1.54 earnings per share. The firm's revenue for the quarter was up 19.5% compared to the same quarter last year.

PJT Partners Stock Down 0.1%

Shares of PJT opened at $168.86 on Tuesday. The company has a market cap of $4.36 billion, a price-to-earnings ratio of 24.61 and a beta of 0.85. PJT Partners has a twelve month low of $127.73 and a twelve month high of $195.62. The company has a 50 day moving average of $158.47 and a two-hundred day moving average of $156.59.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. The Goldman Sachs Group upgraded shares of PJT Partners from a "neutral" rating to a "buy" rating and set a $170.00 price target for the company in a report on Wednesday, April 1st. Weiss Ratings reiterated a "hold (c)" rating on shares of PJT Partners in a research note on Friday, May 29th. Zacks Research raised shares of PJT Partners from a "strong sell" rating to a "hold" rating in a report on Monday, June 29th. UBS Group boosted their price objective on shares of PJT Partners from $160.00 to $162.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 8th. Finally, Keefe, Bruyette & Woods upped their target price on PJT Partners from $175.00 to $185.00 and gave the stock an "outperform" rating in a report on Friday, July 10th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, PJT Partners presently has an average rating of "Hold" and a consensus price target of $175.33.

Insider Buying and Selling at PJT Partners

In other news, General Counsel David Adam Travin sold 3,000 shares of the company's stock in a transaction on Wednesday, May 6th. The stock was sold at an average price of $152.43, for a total transaction of $457,290.00. Following the transaction, the general counsel directly owned 2,052 shares of the company's stock, valued at approximately $312,786.36. This represents a 59.38% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Helen T. Meates sold 8,000 shares of the stock in a transaction on Friday, May 1st. The shares were 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. This represents a 12.04% decrease in their position. The disclosure for this sale is available in the SEC filing. 10.98% of the stock is currently owned by insiders.

Institutional Investors Weigh In On PJT Partners

Institutional investors have recently added to or reduced their stakes in the business. State of Wyoming acquired a new position in shares of PJT Partners during the second quarter valued at about $63,000. Kestra Advisory Services LLC acquired a new stake in PJT Partners in the 4th quarter worth approximately $65,000. Quadrant Capital Group LLC acquired a new stake in PJT Partners in the 3rd quarter worth approximately $90,000. United Services Automobile Association purchased a new stake in PJT Partners during the 1st quarter worth approximately $212,000. Finally, Cetera Investment Advisers purchased a new stake in PJT Partners during the 2nd quarter worth approximately $239,000. Institutional investors and hedge funds 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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