PJT Partners (NYSE:PJT) Announces Earnings Results, Beats Expectations By $0.53 EPS

PJT Partners (NYSE:PJT) posted its earnings results on Thursday. The financial services provider reported $0.98 earnings per share for the quarter, beating analysts’ consensus estimates of $0.45 by $0.53, Briefing.com reports. The company had revenue of $329.39 million for the quarter, compared to the consensus estimate of $229.32 million. PJT Partners had a return on equity of 17.44% and a net margin of 7.57%. PJT Partners’s revenue was up 64.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.54 earnings per share.

PJT Partners Stock Up 1.1 %

NYSE:PJT traded up $1.07 on Friday, reaching $99.53. 339,091 shares of the company’s stock traded hands, compared to its average volume of 292,952. The stock has a 50-day simple moving average of $96.57 and a 200-day simple moving average of $93.89. PJT Partners has a 12 month low of $59.61 and a 12 month high of $107.35. The firm has a market cap of $2.38 billion, a PE ratio of 27.42 and a beta of 0.67.

PJT Partners Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Wednesday, June 5th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.00%. The ex-dividend date of this dividend is Wednesday, June 5th. PJT Partners’s dividend payout ratio is currently 27.55%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on PJT shares. The Goldman Sachs Group reiterated a “neutral” rating and issued a $99.00 price objective (down previously from $108.00) on shares of PJT Partners in a research note on Tuesday, January 9th. JMP Securities reaffirmed a “market outperform” rating and issued a $110.00 target price on shares of PJT Partners in a report on Tuesday, April 9th. Finally, UBS Group restated a “sell” rating and issued a $75.00 price target (down previously from $100.00) on shares of PJT Partners in a research report on Tuesday, March 26th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $93.25.

Insider Transactions at PJT Partners

In other PJT Partners news, insider Ji-Yeun Lee sold 10,000 shares of the stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $104.58, for a total transaction of $1,045,800.00. Following the completion of the sale, the insider now directly owns 73,421 shares of the company’s stock, valued at approximately $7,678,368.18. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other PJT Partners news, insider Ji-Yeun Lee sold 10,000 shares of the business’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $104.58, for a total value of $1,045,800.00. Following the sale, the insider now owns 73,421 shares in the company, valued at approximately $7,678,368.18. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Helen T. Meates sold 12,926 shares of the stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $105.51, for a total transaction of $1,363,822.26. Following the transaction, the chief financial officer now directly owns 48,821 shares of the company’s stock, valued at approximately $5,151,103.71. The disclosure for this sale can be found here. Insiders sold a total of 27,926 shares of company stock valued at $2,875,672 over the last 90 days. Company insiders own 10.67% of the company’s stock.

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.