PJT Partners (NYSE:PJT) Issues Quarterly Earnings Results, Beats Estimates By $0.53 EPS

PJT Partners (NYSE:PJT) issued its quarterly earnings data on Thursday. The financial services provider reported $0.98 EPS for the quarter, topping analysts’ consensus estimates of $0.45 by $0.53, Briefing.com reports. PJT Partners had a return on equity of 17.44% and a net margin of 7.57%. The firm had revenue of $329.39 million during the quarter, compared to analyst estimates of $229.32 million. During the same period in the previous year, the company posted $0.54 EPS. The company’s revenue for the quarter was up 64.7% on a year-over-year basis.

PJT Partners Stock Performance

PJT stock traded up $1.07 during mid-day trading on Friday, hitting $99.53. The company had a trading volume of 339,091 shares, compared to its average volume of 292,952. The firm has a market cap of $2.38 billion, a PE ratio of 27.42 and a beta of 0.67. PJT Partners has a 12 month low of $59.61 and a 12 month high of $107.35. The stock’s fifty day moving average price is $96.57 and its two-hundred day moving average price is $93.78.

PJT Partners Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Wednesday, June 5th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Wednesday, June 5th. This represents a $1.00 dividend on an annualized basis and a yield of 1.00%. PJT Partners’s dividend payout ratio (DPR) is presently 27.55%.

Analyst Ratings Changes

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

Insider Activity

In related 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 sale, the chief financial officer now owns 48,821 shares of the company’s stock, valued at approximately $5,151,103.71. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other PJT Partners news, insider Ji-Yeun Lee sold 10,000 shares of the company’s stock in a transaction dated 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 sale, the insider now directly owns 73,421 shares of the company’s stock, valued at $7,678,368.18. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, 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 transaction, the chief financial officer now 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 27,926 shares of company stock valued at $2,875,672 in the last three months. Company insiders own 10.67% of the company’s stock.

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.