PJT Partners (NYSE:PJT) Issues Quarterly Earnings Results

PJT Partners (NYSE:PJT - Get Free Report) issued its earnings results on Tuesday. The financial services provider reported $1.90 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.19 by $0.71, Zacks reports. PJT Partners had a net margin of 8.03% and a return on equity of 18.79%. The company had revenue of $477.30 million for the quarter, compared to analysts' expectations of $384.64 million. PJT Partners's quarterly revenue was up 45.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.96 EPS.

PJT Partners Stock Performance

Shares of PJT Partners stock traded down $3.44 on Friday, hitting $173.54. The stock had a trading volume of 208,000 shares, compared to its average volume of 239,668. The stock has a 50 day moving average of $161.06 and a 200 day moving average of $144.51. The firm has a market capitalization of $4.11 billion, a P/E ratio of 44.05 and a beta of 0.67. PJT Partners has a twelve month low of $88.51 and a twelve month high of $190.27.

PJT Partners Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Wednesday, March 5th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.58%. The ex-dividend date is Wednesday, March 5th. PJT Partners's payout ratio is 20.41%.

Insider Buying and Selling

In other news, Director Kenneth C. Whitney sold 1,725 shares of the firm's stock in a transaction dated Tuesday, November 12th. The stock was 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 directly owns 9,100 shares in the company, valued at $1,453,725. This trade represents a 15.94 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 11.71% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts recently weighed in on PJT shares. Keefe, Bruyette & Woods boosted their target price on PJT Partners from $152.00 to $177.00 and gave the stock a "market perform" rating in a report on Wednesday. JMP Securities downgraded PJT Partners from an "outperform" rating to a "market perform" rating in a report on Monday, January 13th. UBS Group raised shares of PJT Partners from a "sell" rating to a "neutral" rating and raised their price target for the stock from $130.00 to $175.00 in a research report on Friday, December 6th. Finally, Citizens Jmp lowered PJT Partners from a "strong-buy" rating to a "hold" rating in a research note on Monday, January 13th. Five analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, PJT Partners has an average rating of "Hold" and an average price target of $158.50.

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.