PJT Partners Inc. (NYSE:PJT) Receives Average Recommendation of “Hold” from Analysts

PJT Partners Inc. (NYSE:PJT) has been given an average recommendation of “Hold” by the seven ratings firms that are presently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, three have given a hold recommendation, two have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price target among analysts that have covered the stock in the last year is $173.3333.

A number of research firms have recently weighed in on PJT. Weiss Ratings reaffirmed a “hold (c)” rating on shares of PJT Partners in a research report on Friday, May 29th. Wall Street Zen lowered PJT Partners from a “buy” rating to a “hold” rating in a report on Saturday, March 7th. Zacks Research raised PJT Partners from a “strong sell” rating to a “hold” rating in a research note on Monday, June 29th. UBS Group upped their price target on PJT Partners from $152.00 to $160.00 and gave the stock a “neutral” rating in a report on Wednesday, April 29th. Finally, Keefe, Bruyette & Woods increased their price target on PJT Partners from $166.00 to $175.00 and gave the company an “outperform” rating in a research report on Wednesday, April 29th.

PJT Partners Price Performance

NYSE PJT opened at $163.18 on Friday. The company has a market cap of $4.21 billion, a P/E ratio of 23.79 and a beta of 0.85. The stock has a 50-day moving average of $155.13 and a two-hundred day moving average of $157.41. PJT Partners has a 1-year low of $127.73 and a 1-year high of $195.62.

PJT Partners (NYSE:PJT) last issued its quarterly earnings results on Tuesday, April 28th. The financial services provider reported $1.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.51 by $0.03. The business had revenue of $418.20 million for the quarter, compared to analysts’ expectations of $409.38 million. PJT Partners had a net margin of 10.32% and a return on equity of 32.00%. The business’s quarterly revenue was up 28.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.05 earnings per share. On average, analysts anticipate that PJT Partners will post 7.5 EPS for the current fiscal year.

PJT Partners Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 17th. Investors of record on Wednesday, June 3rd were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date was Wednesday, June 3rd. PJT Partners’s dividend payout ratio is presently 14.58%.

Insider Activity at PJT Partners

In related news, General Counsel David Adam Travin sold 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 6th. The shares were sold at an average price of $152.43, for a total value of $457,290.00. Following the sale, the general counsel owned 2,052 shares of the company’s stock, valued at $312,786.36. This trade represents a 59.38% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Helen T. Meates sold 8,000 shares of PJT Partners stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $153.19, for a total transaction of $1,225,520.00. Following the completion of the transaction, the chief financial officer owned 58,466 shares of the company’s stock, valued at $8,956,406.54. This represents a 12.04% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 10.98% of the stock is owned by company insiders.

Hedge Funds Weigh In On PJT Partners

Several large investors have recently bought and sold shares of the business. JPMorgan Chase & Co. increased its holdings in shares of PJT Partners by 28.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 110,454 shares of the financial services provider’s stock valued at $19,631,000 after acquiring an additional 24,502 shares during the last quarter. Jackson Creek Investment Advisors LLC acquired a new position in PJT Partners in the fourth quarter valued at approximately $1,373,000. Bessemer Group Inc. increased its stake in PJT Partners by 1,446.5% in the fourth quarter. Bessemer Group Inc. now owns 115,000 shares of the financial services provider’s stock valued at $19,229,000 after purchasing an additional 107,564 shares during the last quarter. Azora Capital LP acquired a new stake in PJT Partners during the third quarter worth approximately $40,061,000. Finally, Kornitzer Capital Management Inc. KS raised its holdings in PJT Partners by 28.8% during the fourth quarter. Kornitzer Capital Management Inc. KS now owns 35,055 shares of the financial services provider’s stock worth $5,861,000 after purchasing an additional 7,830 shares in the last quarter. Hedge funds and other institutional investors own 89.23% of the company’s stock.

PJT Partners Company Profile

PJT Partners is a global advisory-focused investment bank that delivers strategic advisory, restructuring and special situations, and capital solutions to corporations, partnerships, and governments. The firm operates through three primary business segments: Strategic Advisory, which covers mergers and acquisitions, shareholder advisory, and capital markets advisory; Restructuring and Special Situations, which provides advice on debt and liability management, distressed mergers and acquisitions, and financial restructurings; and Park Hill, the firm’s dedicated capital-raising and secondary advisory business for private equity, real estate, hedge funds, and infrastructure.

The Strategic Advisory practice at PJT Partners assists clients with complex transactions such as cross-border mergers, spin-offs, divestitures, and takeover defenses, drawing on deep industry expertise and global reach.