PJT Partners (NYSE:PJT) Stock Price Down 8.3% – What’s Next?

PJT Partners Inc. (NYSE:PJT) was down 8.3% during mid-day trading on Tuesday . The company traded as low as $146.00 and last traded at $144.23. Approximately 72,546 shares traded hands during mid-day trading, a decline of 71% from the average daily volume of 253,209 shares. The stock had previously closed at $157.28.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on PJT shares. Keefe, Bruyette & Woods upped their target price on PJT Partners from $152.00 to $177.00 and gave the company a “market perform” rating in a research report on Wednesday, February 5th. JMP Securities cut PJT Partners from an “outperform” rating to a “market perform” rating in a report on Monday, January 13th. UBS Group upgraded PJT Partners from a “sell” rating to a “neutral” rating and lifted their price objective for the stock from $130.00 to $175.00 in a report on Friday, December 6th. Finally, Citizens Jmp downgraded shares of PJT Partners from a “strong-buy” rating to a “hold” rating in a report on Monday, January 13th. Five analysts have rated the stock with a hold rating, According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $158.50.

PJT Partners Price Performance

The company’s 50 day moving average price is $163.48 and its 200 day moving average price is $150.20. The firm has a market cap of $3.50 billion, a PE ratio of 30.16 and a beta of 0.67.

PJT Partners (NYSE:PJT) last issued its quarterly earnings results on Tuesday, February 4th. The financial services provider reported $1.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.19 by $0.71. The company had revenue of $477.30 million during the quarter, compared to the consensus estimate of $384.64 million. PJT Partners had a net margin of 9.00% and a return on equity of 24.03%. The firm’s quarterly revenue was up 45.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.96 earnings per share. Sell-side analysts expect that PJT Partners Inc. will post 6.2 earnings per share for the current fiscal year.

PJT Partners Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Wednesday, March 5th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 0.68%. The ex-dividend date is Wednesday, March 5th. PJT Partners’s dividend payout ratio is currently 20.41%.

Hedge Funds Weigh In On PJT Partners

A number of institutional investors have recently modified their holdings of PJT. Los Angeles Capital Management LLC acquired a new position in PJT Partners in the 3rd quarter valued at $453,000. JPMorgan Chase & Co. raised its stake in shares of PJT Partners by 91.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 72,270 shares of the financial services provider’s stock worth $9,636,000 after buying an additional 34,514 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of PJT Partners by 7.9% in the 3rd quarter. Geode Capital Management LLC now owns 619,037 shares of the financial services provider’s stock valued at $82,556,000 after buying an additional 45,327 shares during the period. Citigroup Inc. grew its holdings in PJT Partners by 101.1% during the third quarter. Citigroup Inc. now owns 30,103 shares of the financial services provider’s stock worth $4,014,000 after acquiring an additional 15,135 shares during the period. Finally, Atria Investments Inc grew its holdings in PJT Partners by 5.9% during the third quarter. Atria Investments Inc now owns 2,563 shares of the financial services provider’s stock worth $342,000 after acquiring an additional 142 shares during the period. 89.23% of the stock is owned by institutional investors and hedge funds.

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.