Research Analysts Issue Forecasts for PJT Partners Inc.’s Q3 2024 Earnings (NYSE:PJT)

PJT Partners Inc. (NYSE:PJT) – Analysts at Seaport Res Ptn cut their Q3 2024 earnings estimates for shares of PJT Partners in a research report issued on Wednesday, July 10th. Seaport Res Ptn analyst J. Mitchell now anticipates that the financial services provider will post earnings per share of $0.74 for the quarter, down from their prior estimate of $0.91. The consensus estimate for PJT Partners’ current full-year earnings is $4.00 per share. Seaport Res Ptn also issued estimates for PJT Partners’ Q4 2024 earnings at $1.45 EPS.

A number of other research analysts have also weighed in on the company. JMP Securities restated a “market outperform” rating and issued a $110.00 price objective on shares of PJT Partners in a report on Tuesday, April 9th. UBS Group raised their price objective on PJT Partners from $85.00 to $93.00 and gave the company a “sell” rating in a report on Tuesday. Two investment 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, PJT Partners has a consensus rating of “Hold” and an average target price of $97.75.

PJT Partners Stock Performance

Shares of PJT stock opened at $111.54 on Thursday. The stock’s fifty day moving average is $105.19 and its two-hundred day moving average is $100.21. The firm has a market capitalization of $2.68 billion, a P/E ratio of 30.73 and a beta of 0.62. PJT Partners has a fifty-two week low of $71.47 and a fifty-two week high of $112.94.

PJT Partners (NYSE:PJT) last announced its quarterly earnings data on Thursday, May 2nd. The financial services provider reported $0.98 earnings per share for the quarter, beating analysts’ consensus estimates of $0.45 by $0.53. The company had revenue of $329.39 million for the quarter, compared to analyst estimates of $229.32 million. PJT Partners had a return on equity of 17.36% and a net margin of 7.57%. The firm’s revenue for the quarter was up 64.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.54 EPS.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Hsbc Holdings PLC raised its holdings in 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 buying an additional 505,712 shares during the period. Champlain Investment Partners LLC purchased a new stake in PJT Partners in the 1st quarter valued at about $43,029,000. Vanguard Group Inc. raised its holdings in PJT Partners by 15.0% in the 4th quarter. Vanguard Group Inc. now owns 2,429,691 shares of the financial services provider’s stock valued at $247,513,000 after buying an additional 317,437 shares during the period. Principal Financial Group Inc. raised its holdings in PJT Partners by 934.8% in the 4th quarter. Principal Financial Group Inc. now owns 129,872 shares of the financial services provider’s stock valued at $13,230,000 after buying an additional 117,322 shares during the period. Finally, Woodson Capital Management LP purchased a new stake in PJT Partners in the 4th quarter valued at about $8,150,000. Hedge funds and other institutional investors own 89.23% of the company’s stock.

PJT Partners Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, June 20th. Stockholders of record on Wednesday, June 5th were issued a dividend of $0.25 per share. The ex-dividend date was Wednesday, June 5th. This represents a $1.00 annualized dividend and a dividend yield of 0.90%. PJT Partners’s dividend payout ratio is presently 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.