Zacks: PJT Partners Inc. (PJT) Receives Average Recommendation of “Strong Buy” from Analysts
Shares of PJT Partners Inc. (NYSE:PJT) have received an average broker rating score of 1.00 (Strong Buy) from the two analysts that cover the stock, Zacks Investment Research reports. Two analysts have rated the stock with a strong buy rating.
Brokerages have set a 1 year consensus price objective of $47.50 for the company and are predicting that the company will post $0.73 earnings per share for the current quarter, according to Zacks. Zacks has also given PJT Partners an industry rank of 180 out of 265 based on the ratings given to its competitors.
A number of equities research analysts recently issued reports on PJT shares. JMP Securities started coverage on shares of PJT Partners in a research report on Monday, September 18th. They set an “outperform” rating and a $45.00 target price for the company. Zacks Investment Research cut shares of PJT Partners from a “hold” rating to a “sell” rating in a research report on Friday, October 13th.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 20th. Investors of record on Wednesday, December 6th will be given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.46%. The ex-dividend date is Tuesday, December 5th. PJT Partners’s dividend payout ratio (DPR) is currently 33.90%.
PJT Partners announced that its Board of Directors has initiated a share repurchase program on Tuesday, October 31st that permits the company to buyback $100.00 million in shares. This buyback authorization permits the financial services provider to buy shares of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s leadership believes its stock is undervalued.
Several institutional investors have recently made changes to their positions in PJT. Penn Capital Management Co. Inc. acquired a new stake in shares of PJT Partners during the 2nd quarter worth about $7,551,000. Maltese Capital Management LLC increased its position in PJT Partners by 395.4% in the 3rd quarter. Maltese Capital Management LLC now owns 204,292 shares of the financial services provider’s stock valued at $7,826,000 after acquiring an additional 163,056 shares in the last quarter. FMR LLC increased its position in PJT Partners by 41.1% in the 2nd quarter. FMR LLC now owns 514,349 shares of the financial services provider’s stock valued at $20,687,000 after acquiring an additional 149,881 shares in the last quarter. Renaissance Technologies LLC increased its position in PJT Partners by 33.6% in the 2nd quarter. Renaissance Technologies LLC now owns 503,900 shares of the financial services provider’s stock valued at $20,267,000 after acquiring an additional 126,700 shares in the last quarter. Finally, Dimensional Fund Advisors LP acquired a new stake in PJT Partners in the 2nd quarter valued at about $4,954,000. Institutional investors and hedge funds own 58.20% of the company’s stock.
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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