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

PJT Partners Inc. (NYSE:PJT) – Investment analysts at Seaport Res Ptn reduced their Q3 2024 earnings estimates for PJT Partners in a research report issued to clients and investors on Wednesday, October 9th. Seaport Res Ptn analyst J. Mitchell now expects that the financial services provider will earn $0.74 per share for the quarter, down from their prior estimate of $0.77. The consensus estimate for PJT Partners’ current full-year earnings is $4.35 per share. Seaport Res Ptn also issued estimates for PJT Partners’ Q4 2024 earnings at $1.43 EPS and Q3 2025 earnings at $1.27 EPS.

A number of other equities research analysts also recently weighed in on the stock. JMP Securities upped their price target on shares of PJT Partners from $142.00 to $150.00 and gave the company a “market outperform” rating in a report on Wednesday, October 9th. The Goldman Sachs Group increased their price target on shares of PJT Partners from $115.00 to $132.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $128.00 price target (up from $108.00) on shares of PJT Partners in a research report on Wednesday, July 31st. Finally, UBS Group increased their price objective on PJT Partners from $110.00 to $120.00 and gave the stock a “sell” rating in a report on Tuesday, October 8th. Two research 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 presently has a consensus rating of “Hold” and an average target price of $123.80.

PJT Partners Stock Up 3.3 %

Shares of PJT opened at $144.23 on Monday. PJT Partners has a 52-week low of $71.47 and a 52-week high of $146.04. The firm has a market capitalization of $3.46 billion, a PE ratio of 39.73 and a beta of 0.61. The firm has a 50-day moving average price of $126.94 and a 200 day moving average price of $112.69.

PJT Partners (NYSE:PJT) last released its quarterly earnings results on Tuesday, July 30th. The financial services provider reported $1.19 EPS for the quarter, topping the consensus estimate of $0.70 by $0.49. The business had revenue of $360.00 million during the quarter, compared to analyst estimates of $281.93 million. PJT Partners had a net margin of 7.96% and a return on equity of 18.04%. The company’s quarterly revenue was up 4.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.99 earnings per share.

PJT Partners Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 18th. Stockholders of record on Wednesday, September 4th were paid a $0.25 dividend. The ex-dividend date was Wednesday, September 4th. This represents a $1.00 annualized dividend and a dividend yield of 0.69%. PJT Partners’s payout ratio is 27.55%.

Insider Transactions at PJT Partners

In related news, Director Emily K. Rafferty sold 1,696 shares of the firm’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $130.79, for a total value of $221,819.84. Following the completion of the transaction, the director now directly owns 7,404 shares of the company’s stock, valued at $968,369.16. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other PJT Partners news, Director Emily K. Rafferty sold 1,696 shares of PJT Partners stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $130.79, for a total transaction of $221,819.84. Following the completion of the transaction, the director now directly owns 7,404 shares of the company’s stock, valued at approximately $968,369.16. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Grace Reksten Skaugen sold 2,015 shares of PJT Partners stock in a transaction on Monday, August 26th. The shares were sold at an average price of $124.86, for a total value of $251,592.90. Following the transaction, the director now directly owns 500 shares of the company’s stock, valued at approximately $62,430. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 25,297 shares of company stock worth $3,092,668. Insiders own 10.67% of the company’s stock.

Institutional Trading of PJT Partners

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Virtu Financial LLC acquired a new stake in PJT Partners in the fourth quarter worth about $223,000. Vanguard Group Inc. raised its stake 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 purchasing an additional 317,437 shares in the last quarter. Quadrature Capital Ltd raised its stake in shares of PJT Partners by 338.1% during the 4th quarter. Quadrature Capital Ltd now owns 12,004 shares of the financial services provider’s stock worth $1,222,000 after purchasing an additional 9,264 shares in the last quarter. Diversified Trust Co acquired a new position in shares of PJT Partners during the 1st quarter worth approximately $298,000. Finally, Norden Group LLC acquired a new position in shares of PJT Partners during the 1st quarter worth approximately $1,509,000. 89.23% of the stock is currently owned by institutional investors and hedge funds.

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.