PJT Partners Inc. to Post Q3 2024 Earnings of $0.74 Per Share, Seaport Res Ptn Forecasts (NYSE:PJT)

PJT Partners Inc. (NYSE:PJT - Free Report) - Investment analysts at Seaport Res Ptn decreased their Q3 2024 earnings per share (EPS) estimates for shares of PJT Partners in a report issued on Wednesday, October 9th. Seaport Res Ptn analyst J. Mitchell now expects that the financial services provider will post earnings per share of $0.74 for the quarter, down from their previous forecast 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 brokerages also recently issued reports on PJT. Keefe, Bruyette & Woods reiterated a "market perform" rating and set a $128.00 price objective (up from $108.00) on shares of PJT Partners in a research note on Wednesday, July 31st. UBS Group increased their price target on shares of PJT Partners from $110.00 to $120.00 and gave the stock a "sell" rating in a research report on Tuesday, October 8th. The Goldman Sachs Group boosted their price objective on shares of PJT Partners from $115.00 to $132.00 and gave the company a "neutral" rating in a research report on Wednesday, July 31st. Finally, JMP Securities lifted their price target on PJT Partners from $142.00 to $150.00 and gave the company a "market outperform" rating in a research note on Wednesday, October 9th. Two analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $123.80.

PJT Partners Stock Performance

Shares of NYSE PJT traded down $0.50 during midday trading on Monday, reaching $143.73. The company's stock had a trading volume of 201,819 shares, compared to its average volume of 232,811. The company has a market cap of $3.45 billion, a P/E ratio of 40.18 and a beta of 0.61. The business's 50 day moving average price is $126.94 and its two-hundred day moving average price is $112.83. PJT Partners has a fifty-two week low of $71.47 and a fifty-two week high of $146.66.

PJT Partners (NYSE:PJT - Get Free Report) last issued its quarterly earnings data on Tuesday, July 30th. The financial services provider reported $1.19 earnings per share 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 analysts' expectations of $281.93 million. PJT Partners had a net margin of 7.96% and a return on equity of 18.04%. The business's revenue was up 4.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.99 EPS.

Institutional Trading of PJT Partners

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PJT. SouthState Corp bought a new position in shares of PJT Partners in the 2nd quarter worth about $26,000. Opal Wealth Advisors LLC acquired a new position in PJT Partners in the second quarter valued at approximately $30,000. Fidelis Capital Partners LLC bought a new position in shares of PJT Partners during the 1st quarter worth approximately $39,000. GAMMA Investing LLC grew 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 worth $45,000 after buying an additional 146 shares during the period. Finally, EntryPoint Capital LLC increased its stake in shares of PJT Partners by 27.6% in the 1st quarter. EntryPoint Capital LLC now owns 1,662 shares of the financial services provider's stock valued at $157,000 after acquiring an additional 359 shares in the last quarter. Institutional investors and hedge funds own 89.23% of the company's stock.

Insider Transactions at PJT Partners

In other news, Director Emily K. Rafferty sold 1,696 shares of the company's stock in a transaction that occurred 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 owns 7,404 shares of the company's stock, valued at $968,369.16. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other PJT Partners news, Director Grace Reksten Skaugen sold 2,015 shares of the company's stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $124.86, for a total value of $251,592.90. Following the sale, the director now owns 500 shares in the company, valued at approximately $62,430. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Emily K. Rafferty sold 1,696 shares of the firm's stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $130.79, for a total value of $221,819.84. Following the transaction, the director now 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 disclosure for this sale can be found here. Over the last ninety days, insiders sold 25,297 shares of company stock worth $3,092,668. Corporate insiders own 10.67% of the company's stock.

PJT Partners Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 18th. Shareholders of record on Wednesday, September 4th were paid a dividend of $0.25 per share. The ex-dividend date was Wednesday, September 4th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.70%. PJT Partners's payout ratio is presently 27.55%.

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.