Seaport Res Ptn Predicts Stronger Earnings for PJT Partners

PJT Partners Inc. (NYSE:PJT) – Research analysts at Seaport Res Ptn increased their FY2024 earnings estimates for shares of PJT Partners in a research note issued to investors on Tuesday, October 29th. Seaport Res Ptn analyst J. Mitchell now expects that the financial services provider will earn $4.40 per share for the year, up from their previous forecast of $4.35. The consensus estimate for PJT Partners’ current full-year earnings is $4.40 per share. Seaport Res Ptn also issued estimates for PJT Partners’ Q1 2025 earnings at $1.11 EPS, Q2 2025 earnings at $1.22 EPS, Q4 2025 earnings at $1.87 EPS and FY2026 earnings at $6.40 EPS.

Several other research firms have also commented on PJT. The Goldman Sachs Group raised their price target on shares of PJT Partners from $115.00 to $132.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. UBS Group boosted their price target on shares of PJT Partners from $110.00 to $120.00 and gave the company a “sell” rating in a report on Tuesday, October 8th. JMP Securities upped 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, Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $128.00 price objective (up previously from $108.00) on shares of PJT Partners in a report on Wednesday, July 31st. 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 data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $123.80.

PJT Partners Trading Up 0.4 %

NYSE:PJT opened at $139.55 on Thursday. The firm has a market cap of $3.32 billion, a price-to-earnings ratio of 35.42 and a beta of 0.61. PJT Partners has a 12-month low of $77.90 and a 12-month high of $151.10. The company’s 50-day moving average is $133.05 and its two-hundred day moving average is $117.26.

PJT Partners (NYSE:PJT) last posted its quarterly earnings results on Tuesday, October 29th. The financial services provider reported $0.93 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.19. The business had revenue of $326.30 million for the quarter, compared to analysts’ expectations of $313.46 million. PJT Partners had a net margin of 8.03% and a return on equity of 18.98%. The business’s revenue for the quarter was up 17.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.78 EPS.

Institutional Trading of PJT Partners

Several institutional investors have recently added to or reduced their stakes in PJT. Champlain Investment Partners LLC acquired a new position in PJT Partners in the 1st quarter worth about $43,029,000. Point72 Asset Management L.P. purchased a new stake in shares of PJT Partners in the second quarter worth approximately $13,803,000. Congress Asset Management Co. increased its position in shares of PJT Partners by 29.6% during the third quarter. Congress Asset Management Co. now owns 317,974 shares of the financial services provider’s stock valued at $42,399,000 after acquiring an additional 72,582 shares during the last quarter. Marshall Wace LLP purchased a new stake in shares of PJT Partners during the second quarter valued at approximately $5,801,000. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its position in PJT Partners by 36.1% in the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 85,049 shares of the financial services provider’s stock worth $8,017,000 after buying an additional 22,556 shares during the last quarter. 89.23% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director Grace Reksten Skaugen sold 2,015 shares of the firm’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $124.86, for a total value of $251,592.90. Following the completion of the sale, the director now directly owns 500 shares in the company, valued at approximately $62,430. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, Director Grace Reksten Skaugen sold 2,015 shares of PJT Partners stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $124.86, for a total transaction of $251,592.90. Following the transaction, the director now owns 500 shares in the company, valued at $62,430. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Kievdi Don Cornwell sold 11,586 shares of PJT Partners stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $123.49, for a total value of $1,430,755.14. Following the completion of the sale, the director now directly owns 8,339 shares in the company, valued at approximately $1,029,783.11. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 23,601 shares of company stock worth $2,870,848. 11.71% of the stock is owned by corporate insiders.

PJT Partners Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Stockholders of record on Wednesday, December 4th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.72%. PJT Partners’s dividend payout ratio (DPR) is presently 25.38%.

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.