Q2 2024 EPS Estimates for PJT Partners Inc. Reduced by Seaport Res Ptn (NYSE:PJT)

PJT Partners Inc. (NYSE:PJT) – Seaport Res Ptn cut their Q2 2024 earnings estimates for shares of PJT Partners in a research note issued on Thursday, May 2nd. Seaport Res Ptn analyst J. Mitchell now expects that the financial services provider will post earnings of $0.57 per share for the quarter, down from their previous forecast of $0.67. The consensus estimate for PJT Partners’ current full-year earnings is $4.00 per share. Seaport Res Ptn also issued estimates for PJT Partners’ Q3 2024 earnings at $0.91 EPS, Q4 2024 earnings at $1.54 EPS, FY2024 earnings at $4.00 EPS, Q1 2025 earnings at $0.89 EPS, Q2 2025 earnings at $0.95 EPS, Q3 2025 earnings at $1.27 EPS and Q4 2025 earnings at $2.19 EPS.

A number of other analysts have also recently commented on PJT. The Goldman Sachs Group restated a “neutral” rating and issued a $99.00 price objective (down from $108.00) on shares of PJT Partners in a research report on Tuesday, January 9th. JMP Securities restated a “market outperform” rating and set a $110.00 price objective on shares of PJT Partners in a research report on Tuesday, April 9th. Finally, UBS Group reiterated a “sell” rating and issued a $75.00 target price (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 assigned a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $93.25.

PJT Partners Stock Up 0.1 %

Shares of PJT Partners stock opened at $99.43 on Monday. The firm has a market cap of $2.38 billion, a PE ratio of 27.39 and a beta of 0.67. The business has a 50-day moving average price of $96.38 and a 200 day moving average price of $94.36. PJT Partners has a twelve month low of $61.03 and a twelve month high of $107.35.

PJT Partners (NYSE:PJT) last released its quarterly earnings data on Thursday, May 2nd. The financial services provider reported $0.98 earnings per share for the quarter, beating analysts’ consensus estimates of $0.45 by $0.53. PJT Partners had a net margin of 7.57% and a return on equity of 17.44%. The company had revenue of $329.39 million during the quarter, compared to analysts’ expectations of $229.32 million. During the same quarter in the previous year, the company earned $0.54 earnings per share. The firm’s revenue for the quarter was up 64.7% on a year-over-year basis.

PJT Partners Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Wednesday, June 5th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.01%. The ex-dividend date of this dividend is Wednesday, June 5th. PJT Partners’s dividend payout ratio is currently 27.55%.

Insider Buying and Selling at PJT Partners

In related news, CFO Helen T. Meates sold 12,926 shares of the business’s 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 in the company, valued at $5,151,103.71. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CFO Helen T. Meates sold 12,926 shares of the stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $105.51, for a total value of $1,363,822.26. Following the completion of the sale, the chief financial officer now owns 48,821 shares of the company’s stock, valued at $5,151,103.71. The transaction was disclosed in a legal 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 on Friday, March 1st. The stock was sold at an average price of $104.58, for a total value of $1,045,800.00. Following the transaction, the insider now directly owns 73,421 shares in the company, valued at approximately $7,678,368.18. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 27,926 shares of company stock worth $2,875,672. Corporate insiders own 10.67% of the company’s stock.

Institutional Investors Weigh In On PJT Partners

Hedge funds and other institutional investors have recently bought and sold shares of the company. Fidelis Capital Partners LLC acquired a new position in shares of PJT Partners in the 1st quarter valued at $39,000. Account Management LLC acquired a new position in PJT Partners in the third quarter valued at about $202,000. M&T Bank Corp purchased a new position in PJT Partners during the fourth quarter worth about $217,000. Quadrature Capital Ltd acquired a new stake in shares of PJT Partners during the third quarter valued at about $218,000. Finally, Cerity Partners LLC purchased a new stake in shares of PJT Partners in the 4th quarter valued at approximately $219,000. 89.23% of the stock is currently owned by institutional investors and hedge funds.

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.