Analysts Expect PJT Partners Inc. (PJT) to Post $0.73 EPS
Equities research analysts expect that PJT Partners Inc. (NYSE:PJT) will report earnings per share of $0.73 for the current fiscal quarter, according to Zacks. Zero analysts have issued estimates for PJT Partners’ earnings. PJT Partners posted earnings per share of $0.70 during the same quarter last year, which indicates a positive year-over-year growth rate of 4.3%. The business is scheduled to issue its next quarterly earnings report on Thursday, February 8th.
On average, analysts expect that PJT Partners will report full-year earnings of $1.48 per share for the current fiscal year. For the next financial year, analysts anticipate that the firm will post earnings of $1.98 per share. Zacks Investment Research’s earnings per share averages are an average based on a survey of research firms that follow PJT Partners.
PJT has been the topic of a number of recent research reports. Zacks Investment Research downgraded PJT Partners from a “buy” rating to a “hold” rating in a research report on Tuesday, August 8th. JMP Securities initiated coverage on PJT Partners in a research report on Monday, September 18th. They set an “outperform” rating and a $45.00 target price on the stock. Finally, BidaskClub downgraded PJT Partners from a “hold” rating to a “sell” rating in a research report on Tuesday, August 8th.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 20th. Shareholders of record on Wednesday, December 6th will be issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.46%. The ex-dividend date of this dividend is Tuesday, December 5th. PJT Partners’s payout ratio is 32.79%.
PJT Partners announced that its board has authorized a share repurchase plan on Tuesday, October 31st that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the financial services provider to purchase shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are undervalued.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Royal Bank of Canada boosted its holdings in PJT Partners by 283.2% during the second quarter. Royal Bank of Canada now owns 9,324 shares of the financial services provider’s stock valued at $375,000 after purchasing an additional 6,891 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in PJT Partners by 41.6% during the second quarter. JPMorgan Chase & Co. now owns 75,647 shares of the financial services provider’s stock valued at $3,043,000 after purchasing an additional 22,206 shares in the last quarter. Vanguard Group Inc. boosted its holdings in PJT Partners by 6.4% during the second quarter. Vanguard Group Inc. now owns 697,533 shares of the financial services provider’s stock valued at $28,055,000 after purchasing an additional 41,741 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in PJT Partners by 33.6% during the second quarter. Renaissance Technologies LLC now owns 503,900 shares of the financial services provider’s stock valued at $20,267,000 after purchasing an additional 126,700 shares in the last quarter. Finally, Public Employees Retirement System of Ohio acquired a new stake in PJT Partners during the second quarter valued at approximately $1,159,000. 58.20% of the stock is currently owned by institutional investors.
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PJT Partners Company Profile
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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