Seaport Res Ptn Predicts Stronger Earnings for PJT Partners

PJT Partners Inc. (NYSE:PJT - Free Report) - Analysts at Seaport Res Ptn raised their FY2024 earnings per share (EPS) estimates for shares of PJT Partners in a research note issued to investors on Tuesday, October 29th. Seaport Res Ptn analyst J. Mitchell now anticipates that the financial services provider will post earnings of $4.40 per share for the year, up from their prior forecast of $4.35. The consensus estimate for PJT Partners' current full-year earnings is $4.35 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.

PJT Partners (NYSE:PJT - Get Free Report) last released its quarterly earnings data on Tuesday, October 29th. The financial services provider reported $0.93 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.74 by $0.19. PJT Partners had a return on equity of 18.04% and a net margin of 7.96%. The business had revenue of $326.30 million during the quarter, compared to analyst estimates of $313.46 million. During the same quarter in the previous year, the firm posted $0.78 EPS. The business's revenue for the quarter was up 17.2% compared to the same quarter last year.

Other research analysts have also issued research reports about the company. Keefe, Bruyette & Woods reiterated a "market perform" rating and set a $128.00 price target (up previously from $108.00) on shares of PJT Partners in a research report on Wednesday, July 31st. JMP Securities boosted their price target on PJT Partners from $142.00 to $150.00 and gave the stock a "market outperform" rating in a research report on Wednesday, October 9th. The Goldman Sachs Group boosted their price target on PJT Partners from $115.00 to $132.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 31st. Finally, UBS Group boosted their price target on PJT Partners from $110.00 to $120.00 and gave the stock a "sell" rating in a research report on Tuesday, October 8th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, PJT Partners currently has an average rating of "Hold" and a consensus target price of $123.80.

PJT Partners Price Performance

NYSE:PJT traded up $1.16 during midday trading on Thursday, reaching $138.98. 273,532 shares of the company traded hands, compared to its average volume of 233,429. PJT Partners has a twelve month low of $76.22 and a twelve month high of $151.10. The firm has a market capitalization of $3.33 billion, a price-to-earnings ratio of 37.97 and a beta of 0.61. The company has a fifty day moving average price of $132.74 and a 200 day moving average price of $117.11.

Institutional Investors Weigh In On PJT Partners

A number of large investors have recently made changes to their positions in PJT. SouthState Corp acquired a new stake in shares of PJT Partners during the second quarter valued at approximately $26,000. Opal Wealth Advisors LLC purchased a new position in PJT Partners during the second quarter valued at approximately $30,000. Fidelis Capital Partners LLC purchased a new position in PJT Partners during the first quarter valued at approximately $39,000. GAMMA Investing LLC grew its position in PJT Partners by 76.4% during the third quarter. GAMMA Investing LLC now owns 337 shares of the financial services provider's stock valued at $45,000 after purchasing an additional 146 shares in the last quarter. Finally, EntryPoint Capital LLC grew its position in PJT Partners by 27.6% during the first quarter. EntryPoint Capital LLC now owns 1,662 shares of the financial services provider's stock valued at $157,000 after purchasing 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 Kievdi Don Cornwell sold 11,586 shares of the business's stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $123.49, for a total value of $1,430,755.14. Following the sale, the director now owns 8,339 shares of the company's stock, valued at approximately $1,029,783.11. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Ji-Yeun Lee sold 10,000 shares of the business's stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $118.85, for a total transaction of $1,188,500.00. Following the sale, the insider now owns 61,433 shares in the company, valued at $7,301,312.05. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kievdi Don Cornwell sold 11,586 shares of the business's stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $123.49, for a total transaction of $1,430,755.14. Following the sale, the director now owns 8,339 shares in the company, valued at $1,029,783.11. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 23,601 shares of company stock valued at $2,870,848. Corporate insiders own 10.67% of the company's stock.

PJT Partners Dividend Announcement

The company also recently disclosed 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. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.72%. The ex-dividend date is Wednesday, December 4th. PJT Partners's dividend 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.