PJT Partners (NYSE:PJT) Announces Quarterly Earnings Results

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

PJT Partners Stock Up 1.1 %

NYSE PJT traded up $1.07 on Friday, reaching $99.53. The company had a trading volume of 339,091 shares, compared to its average volume of 292,952. The stock has a market capitalization of $2.38 billion, a PE ratio of 27.42 and a beta of 0.67. PJT Partners has a 12 month low of $59.61 and a 12 month high of $107.35. The firm’s 50 day moving average price is $96.57 and its 200 day moving average price is $93.78.

PJT Partners Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Wednesday, June 5th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Wednesday, June 5th. This represents a $1.00 annualized dividend and a yield of 1.00%. PJT Partners’s payout ratio is 27.55%.

Insider Buying and Selling at PJT Partners

In other news, insider Ji-Yeun Lee sold 10,000 shares of PJT Partners stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $104.58, for a total value of $1,045,800.00. Following the sale, the insider now directly owns 73,421 shares of the company’s stock, valued at $7,678,368.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Ji-Yeun Lee sold 10,000 shares of the firm’s stock in a transaction on 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 transaction, the insider now directly owns 73,421 shares of the company’s stock, valued at $7,678,368.18. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, General Counsel David Adam Travin sold 5,000 shares of the business’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $93.21, for a total transaction of $466,050.00. Following the completion of the sale, the general counsel now owns 1,541 shares in the company, valued at approximately $143,636.61. The disclosure for this sale can be found here. Insiders sold 27,926 shares of company stock valued at $2,875,672 in the last 90 days. Insiders own 10.67% of the company’s stock.

Analyst Ratings Changes

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

About PJT Partners

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.