Seaport Res Ptn Cuts Earnings Estimates for PJT Partners

PJT Partners Inc. (NYSE:PJT - Free Report) - Equities researchers at Seaport Res Ptn reduced their FY2024 earnings per share estimates for shares of PJT Partners in a note issued to investors on Monday, January 13th. Seaport Res Ptn analyst J. Mitchell now anticipates that the financial services provider will earn $4.20 per share for the year, down from their prior forecast of $4.40. 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 $1.09 EPS and Q3 2025 earnings at $1.21 EPS.

A number of other brokerages have also recently issued reports on PJT. JMP Securities cut shares of PJT Partners from an "outperform" rating to a "market perform" rating in a research report on Monday. 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 research report on Friday, December 6th. Keefe, Bruyette & Woods reduced their target price on PJT Partners from $159.00 to $152.00 and set a "market perform" rating on the stock in a research note on Monday. Finally, Citizens Jmp downgraded PJT Partners from a "strong-buy" rating to a "hold" rating in a research report on Monday. Five analysts have rated the stock with a hold rating, Based on data from MarketBeat, PJT Partners currently has a consensus rating of "Hold" and an average target price of $152.25.

PJT Partners Stock Up 3.3 %

Shares of PJT Partners stock traded up $5.10 on Wednesday, hitting $161.60. The company's stock had a trading volume of 368,801 shares, compared to its average volume of 234,100. The company has a market capitalization of $3.83 billion, a P/E ratio of 41.02 and a beta of 0.66. PJT Partners has a 52-week low of $88.51 and a 52-week high of $168.92. The firm has a fifty day moving average price of $159.58 and a 200-day moving average price of $138.73.

PJT Partners (NYSE:PJT - Get Free Report) last posted its earnings results on Tuesday, October 29th. The financial services provider reported $0.93 EPS for the quarter, topping analysts' consensus estimates of $0.91 by $0.02. PJT Partners had a return on equity of 18.79% and a net margin of 8.03%. The company had revenue of $326.30 million for the quarter, compared to the consensus estimate of $313.46 million. During the same period in the previous year, the business earned $0.78 earnings per share. PJT Partners's quarterly revenue was up 17.2% compared to the same quarter last year.

Hedge Funds Weigh In On PJT Partners

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Quarry LP boosted its holdings in shares of PJT Partners by 186.3% in the 3rd quarter. Quarry LP now owns 209 shares of the financial services provider's stock valued at $28,000 after purchasing an additional 136 shares during the last quarter. GAMMA Investing LLC raised its position in shares of PJT Partners by 76.4% in the 3rd quarter. GAMMA Investing LLC now owns 337 shares of the financial services provider's stock worth $45,000 after buying an additional 146 shares during the period. KBC Group NV boosted its holdings in PJT Partners by 113.0% in the third quarter. KBC Group NV now owns 803 shares of the financial services provider's stock valued at $107,000 after acquiring an additional 426 shares during the last quarter. nVerses Capital LLC purchased a new stake in PJT Partners during the third quarter valued at about $213,000. Finally, D.A. Davidson & CO. acquired a new stake in PJT Partners during the third quarter worth about $234,000. Institutional investors and hedge funds own 89.23% of the company's stock.

Insider Buying and Selling

In other news, Director Kenneth C. Whitney sold 1,725 shares of the company's stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $159.75, for a total transaction of $275,568.75. Following the completion of the transaction, the director now owns 9,100 shares of the company's stock, valued at $1,453,725. This represents a 15.94 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director James Costos sold 1,500 shares of the stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $161.41, for a total transaction of $242,115.00. Following the transaction, the director now owns 9,360 shares in the company, valued at approximately $1,510,797.60. The trade was a 13.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 4,766 shares of company stock worth $762,980. 11.71% of the stock is owned by insiders.

PJT Partners Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 18th. Investors of record on Wednesday, December 4th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.62%. The ex-dividend date of this dividend was Wednesday, December 4th. PJT Partners's payout ratio is 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.