Seaport Res Ptn Analysts Lower Earnings Estimates for PJT Partners Inc. (NYSE:PJT)

PJT Partners Inc. (NYSE:PJT) – Seaport Res Ptn cut their Q2 2024 earnings per share estimates for PJT Partners in a report issued on Thursday, May 2nd. Seaport Res Ptn analyst J. Mitchell now expects that the financial services provider will post earnings of $0.57 per share for the quarter, down from their prior forecast of $0.67. The consensus estimate for PJT Partners’ current full-year earnings is $4.00 per share. Seaport Res Ptn also issued estimates for PJT Partners’ Q3 2024 earnings at $0.91 EPS, Q4 2024 earnings at $1.54 EPS, FY2024 earnings at $4.00 EPS, Q1 2025 earnings at $0.89 EPS, Q2 2025 earnings at $0.95 EPS, Q3 2025 earnings at $1.27 EPS and Q4 2025 earnings at $2.19 EPS.

Other analysts also recently issued research reports about the company. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $99.00 target price (down previously from $108.00) on shares of PJT Partners in a research report on Tuesday, January 9th. UBS Group restated a “sell” rating and set a $75.00 target price (down from $100.00) on shares of PJT Partners in a report on Tuesday, March 26th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $110.00 price target on shares of PJT Partners in a research note on Tuesday, April 9th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $93.25.

PJT Partners Trading Up 1.1 %

PJT Partners stock opened at $99.53 on Monday. PJT Partners has a 1-year low of $59.61 and a 1-year high of $107.35. The company has a fifty day simple moving average of $96.57 and a 200 day simple moving average of $94.02. The company has a market cap of $2.38 billion, a P/E ratio of 27.42 and a beta of 0.67.

PJT Partners (NYSE:PJT) last issued its quarterly earnings results on Thursday, May 2nd. The financial services provider reported $0.98 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.53. The company had revenue of $329.39 million during the quarter, compared to analysts’ expectations of $229.32 million. PJT Partners had a net margin of 7.57% and a return on equity of 17.44%. The business’s quarterly revenue was up 64.7% on a year-over-year basis. During the same period last year, the business earned $0.54 EPS.

Institutional Investors Weigh In On PJT Partners

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its holdings in shares of PJT Partners by 15.0% during the 4th quarter. Vanguard Group Inc. now owns 2,429,691 shares of the financial services provider’s stock worth $247,513,000 after buying an additional 317,437 shares in the last quarter. Clearbridge Investments LLC raised its stake in PJT Partners by 6.7% during the third quarter. Clearbridge Investments LLC now owns 1,104,971 shares of the financial services provider’s stock worth $87,779,000 after acquiring an additional 68,951 shares in the last quarter. Eagle Asset Management Inc. lifted its holdings in shares of PJT Partners by 7.7% in the third quarter. Eagle Asset Management Inc. now owns 969,694 shares of the financial services provider’s stock worth $77,032,000 after acquiring an additional 69,485 shares during the last quarter. Hsbc Holdings PLC boosted its stake in shares of PJT Partners by 11,553.8% in the 4th quarter. Hsbc Holdings PLC now owns 510,089 shares of the financial services provider’s stock valued at $52,120,000 after purchasing an additional 505,712 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of PJT Partners by 2.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 421,860 shares of the financial services provider’s stock valued at $42,976,000 after purchasing an additional 8,857 shares during the last quarter. 89.23% of the stock is currently owned by institutional investors.

Insider Transactions at PJT Partners

In other PJT Partners news, insider Ji-Yeun Lee sold 10,000 shares of the business’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $104.58, for a total value of $1,045,800.00. Following the completion of the sale, the insider now owns 73,421 shares of the company’s stock, valued at approximately $7,678,368.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other PJT Partners news, insider Ji-Yeun Lee sold 10,000 shares of the firm’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $104.58, for a total transaction of $1,045,800.00. Following the transaction, the insider now owns 73,421 shares in the company, valued at approximately $7,678,368.18. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Helen T. Meates sold 12,926 shares of the company’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $105.51, for a total value of $1,363,822.26. Following the sale, the chief financial officer now owns 48,821 shares of the company’s stock, valued at $5,151,103.71. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 27,926 shares of company stock valued at $2,875,672. 10.67% of the stock is currently owned by corporate insiders.

PJT Partners Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Wednesday, June 5th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.00%. The ex-dividend date of this dividend is Wednesday, June 5th. PJT Partners’s dividend payout ratio is 27.55%.

PJT Partners Company Profile

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.