PJT Partners Inc. (NYSE:PJT) Stock Rated “Hold” by Wall Street Analysts

PJT Partners Inc. (NYSE:PJT) has received a consensus rating of “Hold” from the seven research firms that are presently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, four have given a hold recommendation and two have issued a buy recommendation on the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $167.67.

Several research firms have recently weighed in on PJT. BMO Capital Markets reiterated an “outperform” rating on shares of PJT Partners in a research report on Tuesday, October 6th. UBS Group dropped their target price on shares of PJT Partners from $176.00 to $165.00 and set a “neutral” rating on the stock in a report on Wednesday, October 7th. The Goldman Sachs Group cut their price target on shares of PJT Partners from $203.00 to $182.00 and set a “buy” rating on the stock in a research report on Thursday, October 1st. Weiss Ratings reiterated a “hold (c)” rating on shares of PJT Partners in a report on Wednesday, August 26th. Finally, Wall Street Zen lowered PJT Partners from a “buy” rating to a “hold” rating in a research report on Saturday, August 29th.

PJT Partners Stock Performance

NYSE:PJT opened at $153.19 on Friday. PJT Partners has a fifty-two week low of $127.73 and a fifty-two week high of $195.62. The company has a 50 day simple moving average of $150.03 and a two-hundred day simple moving average of $155.40. The company has a market capitalization of $3.92 billion, a PE ratio of 20.68 and a beta of 0.88.

PJT Partners (NYSE:PJT) last issued its quarterly earnings results on Tuesday, November 3rd. The financial services provider reported $1.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.39 by $0.02. PJT Partners had a net margin of 10.50% and a return on equity of 27.03%. The firm had revenue of $385.12 million for the quarter, compared to the consensus estimate of $409.74 million. During the same quarter in the previous year, the company earned $1.85 EPS. The company’s revenue for the quarter was down 13.8% on a year-over-year basis. Research analysts predict that PJT Partners will post 7.60 EPS for the current year.

PJT Partners Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 16th. Investors of record on Wednesday, December 2nd will be given a dividend of $0.25 per share. The ex-dividend date is Wednesday, December 2nd. This represents a $1.00 annualized dividend and a dividend yield of 0.7%. PJT Partners’s dividend payout ratio is presently 14.31%.

Insider Activity at PJT Partners

In related news, Director James Costos sold 1,723 shares of the firm’s stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $175.00, for a total transaction of $301,525.00. Following the completion of the sale, the director owned 11,289 shares of the company’s stock, valued at $1,975,575. This trade represents a 13.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Kievdi Cornwell sold 7,845 shares of PJT Partners stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $173.48, for a total value of $1,360,950.60. Following the completion of the sale, the director owned 18,865 shares of the company’s stock, valued at approximately $3,272,700.20. The trade was a 29.37% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 10.98% of the company’s stock.

Hedge Funds Weigh In On PJT Partners

Institutional investors and hedge funds have recently modified their holdings of the business. Bessemer Group Inc. increased its stake in shares of PJT Partners by 100.0% in the 3rd quarter. Bessemer Group Inc. now owns 180 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 90 shares in the last quarter. Compass Financial Management LLC acquired a new position in shares of PJT Partners during the 2nd quarter valued at $32,000. Versant Capital Management Inc boosted its stake in PJT Partners by 73.3% during the second quarter. Versant Capital Management Inc now owns 234 shares of the financial services provider’s stock worth $35,000 after acquiring an additional 99 shares in the last quarter. Cassaday & Co Wealth Management LLC bought a new position in PJT Partners during the first quarter worth $50,000. Finally, Allworth Financial LP boosted its stake in PJT Partners by 80.6% during the third quarter. Allworth Financial LP now owns 540 shares of the financial services provider’s stock worth $81,000 after acquiring an additional 241 shares in the last quarter. 89.23% of the stock is currently owned by institutional investors.

PJT Partners Company Profile

PJT Partners is a global, advisory-focused investment bank that provides strategic and financial advice to corporations, financial sponsors, governments and other institutions. Its services include advice on mergers and acquisitions, capital structure and other strategic matters, as well as restructuring and special situations. Through its Park Hill business, the firm also advises on and raises capital for alternative investment funds and provides secondary advisory services. PJT serves clients across the Americas, Europe and Asia.