PJT Partners Inc. (PJT) Declares $0.05 Quarterly Dividend
PJT Partners Inc. (NYSE:PJT) announced a quarterly dividend on Tuesday, October 31st, Zacks reports. Shareholders of record on Wednesday, December 6th will be given a dividend of 0.05 per share by the financial services provider on Wednesday, December 20th. This represents a $0.20 dividend on an annualized basis and a yield of 0.52%. The ex-dividend date is Tuesday, December 5th.
PJT Partners (NYSE:PJT) traded down 0.52% during midday trading on Wednesday, reaching $38.40. The company’s stock had a trading volume of 8,482 shares. The company’s 50-day moving average price is $37.64 and its 200-day moving average price is $38.77. PJT Partners has a 1-year low of $26.55 and a 1-year high of $45.38. The company’s market capitalization is $711.28 million.
PJT Partners (NYSE:PJT) last announced its earnings results on Wednesday, August 2nd. The financial services provider reported $0.27 EPS for the quarter, missing the consensus estimate of $0.34 by ($0.07). PJT Partners had a negative net margin of 0.27% and a negative return on equity of 115.47%. The company had revenue of $109.31 million for the quarter. On average, analysts predict that PJT Partners will post $1.54 earnings per share for the current fiscal year.
PJT Partners announced that its Board of Directors has approved a stock repurchase plan on Tuesday, October 31st that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the financial services provider to repurchase shares of its stock through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.
PJT has been the subject of several analyst reports. BidaskClub raised PJT Partners from a “buy” rating to a “strong-buy” rating in a report on Monday, July 24th. Zacks Investment Research downgraded PJT Partners from a “buy” rating to a “hold” rating in a report on Tuesday, August 8th. Finally, JMP Securities initiated coverage on PJT Partners in a report on Monday, September 18th. They set an “outperform” rating and a $45.00 target price for the company. Three investment analysts have rated the stock with a sell rating and two have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $45.67.
In other PJT Partners news, Director Dennis S. Hersch purchased 2,000 shares of the company’s stock in a transaction that occurred on Monday, August 14th. The shares were purchased at an average cost of $38.45 per share, with a total value of $76,900.00. Following the completion of the transaction, the director now owns 18,000 shares of the company’s stock, valued at $692,100. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 3.30% of the stock is currently owned by insiders.
About PJT Partners
PJT Partners Inc is an advisory-focused investment bank. The Company offers an array of strategic advisory, restructuring and special situations and private fund advisory and placement services to corporations, financial sponsors, institutional investors and governments. It provides, through Park Hill Group, private fund advisory and placement services for alternative investment managers, including private equity funds, real estate funds and hedge funds.
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