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

PJT Partners (NYSE:PJT) released its earnings results on Thursday. The financial services provider reported $0.98 earnings per share for the quarter, topping analysts’ consensus estimates of $0.45 by $0.53, Briefing.com reports. The company had revenue of $329.39 million during 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%. The firm’s quarterly revenue was up 64.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.54 earnings per share.

PJT Partners Stock Up 1.1 %

PJT Partners stock traded up $1.07 during mid-day trading on Friday, hitting $99.53. 339,091 shares of the company’s stock were exchanged, compared to its average volume of 292,952. The company’s 50 day simple moving average is $96.57 and its 200-day simple moving average is $93.89. The firm has a market capitalization of $2.38 billion, a P/E ratio of 27.42 and a beta of 0.67. PJT Partners has a fifty-two week low of $59.61 and a fifty-two week high of $107.35.

PJT Partners Announces Dividend

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

Insider Buying and Selling at PJT Partners

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

Analyst Upgrades and Downgrades

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

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.