PJT Partners (NYSE:PJT) Issues Quarterly 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 EPS for the quarter, topping analysts’ consensus estimates of $0.45 by $0.53, Briefing.com reports. The business had revenue of $329.39 million during the quarter, compared to the consensus estimate of $229.32 million. PJT Partners had a net margin of 7.57% and a return on equity of 17.44%. The firm’s revenue was up 64.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.54 EPS.

PJT Partners Trading Up 1.1 %

NYSE PJT traded up $1.07 on Friday, reaching $99.53. 339,091 shares of the stock were exchanged, compared to its average volume of 292,952. PJT Partners has a one year low of $59.61 and a one year high of $107.35. The firm has a market capitalization of $2.38 billion, a PE ratio of 27.42 and a beta of 0.67. The company’s 50-day simple moving average is $96.57 and its two-hundred day simple moving average is $93.78.

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 27.55%.

Wall Street Analysts Forecast Growth

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

Insiders Place Their Bets

In other PJT Partners news, insider Ji-Yeun Lee sold 10,000 shares of the 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 completion of 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 document filed with the Securities & Exchange Commission, which is available at this link. In related news, insider Ji-Yeun Lee sold 10,000 shares of the business’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $7,678,368.18. The transaction was disclosed in a legal 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 that occurred on 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 sale, the chief financial officer now directly owns 48,821 shares of the company’s stock, valued at $5,151,103.71. The disclosure for this sale can be found here. Insiders sold a total of 27,926 shares of company stock worth $2,875,672 over the last three months. 10.67% of the stock is currently owned by company insiders.

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.