PJT Partners Inc. (NYSE:PJT) Receives $123.80 Consensus Price Target from Brokerages

Shares of PJT Partners Inc. (NYSE:PJT) have received an average recommendation of “Reduce” from the six research firms that are presently covering the firm, Marketbeat.com reports. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $123.80.

Several research firms have recently issued reports on PJT. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $128.00 target price (up from $108.00) on shares of PJT Partners in a report on Wednesday, July 31st. UBS Group boosted their price objective on shares of PJT Partners from $110.00 to $120.00 and gave the stock a “sell” rating in a report on Tuesday, October 8th. JMP Securities boosted their price objective on shares of PJT Partners from $142.00 to $150.00 and gave the stock a “market outperform” rating in a report on Wednesday, October 9th. Finally, The Goldman Sachs Group boosted their price objective on shares of PJT Partners from $115.00 to $132.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st.

PJT Partners Price Performance

NYSE PJT opened at $161.06 on Tuesday. The stock has a market capitalization of $3.82 billion, a PE ratio of 39.56 and a beta of 0.61. PJT Partners has a 1 year low of $83.88 and a 1 year high of $163.85. The business’s 50-day moving average is $142.47 and its 200 day moving average is $123.31.

PJT Partners (NYSE:PJT) last issued its quarterly earnings data on Tuesday, October 29th. The financial services provider reported $0.93 EPS for the quarter, topping the consensus estimate of $0.91 by $0.02. PJT Partners had a net margin of 8.03% and a return on equity of 18.79%. The business had revenue of $326.30 million during the quarter, compared to analyst estimates of $313.46 million. During the same period last year, the business posted $0.78 earnings per share. PJT Partners’s quarterly revenue was up 17.2% compared to the same quarter last year. As a group, equities research analysts anticipate that PJT Partners will post 4.4 earnings per share for the current year.

PJT Partners Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Wednesday, December 4th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.62%. The ex-dividend date of this dividend is Wednesday, December 4th. PJT Partners’s dividend payout ratio (DPR) is presently 25.38%.

Insiders Place Their Bets

In other news, Director James Costos sold 1,500 shares of the business’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $161.41, for a total transaction of $242,115.00. Following the completion of the sale, the director now owns 9,360 shares of the company’s stock, valued at $1,510,797.60. The trade was a 13.81 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Kenneth C. Whitney sold 1,725 shares of the business’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $159.75, for a total transaction of $275,568.75. Following the sale, the director now directly owns 9,100 shares of the company’s stock, valued at approximately $1,453,725. The trade was a 15.94 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 28,367 shares of company stock valued at $3,633,828. Company insiders own 11.71% of the company’s stock.

Institutional Investors Weigh In On PJT Partners

A number of hedge funds have recently modified their holdings of the business. Quarry LP boosted its holdings in PJT Partners by 186.3% in the 3rd quarter. Quarry LP now owns 209 shares of the financial services provider’s stock worth $28,000 after buying an additional 136 shares during the period. SouthState Corp purchased a new stake in shares of PJT Partners during the 2nd quarter valued at about $26,000. Opal Wealth Advisors LLC purchased a new stake in shares of PJT Partners during the 2nd quarter valued at about $30,000. GAMMA Investing LLC raised its position in shares of PJT Partners by 76.4% during the 3rd quarter. GAMMA Investing LLC now owns 337 shares of the financial services provider’s stock valued at $45,000 after buying an additional 146 shares in the last quarter. Finally, KBC Group NV grew its holdings in PJT Partners by 113.0% during the 3rd quarter. KBC Group NV now owns 803 shares of the financial services provider’s stock valued at $107,000 after purchasing an additional 426 shares during the last quarter. Institutional investors own 89.23% of the company’s stock.

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.