PJT Partners (NYSE:PJT) Announces Earnings Results

PJT Partners (NYSE:PJT) issued its earnings results on Tuesday. The financial services provider reported $1.97 EPS for the quarter, topping the consensus estimate of $1.57 by $0.40, FiscalAI reports. PJT Partners had a return on equity of 32.00% and a net margin of 10.32%.The company had revenue of $486.29 million during the quarter, compared to analyst estimates of $425.28 million. During the same quarter last year, the firm earned $1.54 EPS. The business’s revenue was up 19.5% on a year-over-year basis.

Here are the key takeaways from PJT Partners’ conference call:

• Record second-quarter and first-half results: Q2 revenue rose 20% to $486 million, adjusted pre-tax income increased 32% to $106 million, and adjusted EPS climbed 28% to $1.97. First-half revenue, adjusted pre-tax income, and EPS increased 24%, 39%, and 36%, respectively.
• Strategic advisory delivered record revenue, while mandate counts and the pre-announced pipeline reached record levels; mandates were up more than 20% year over year. Management expects strategic advisory to remain the largest dollar contributor to growth if macro conditions remain stable.
• Restructuring also posted record results, supported by sustained demand for liability management and restructuring advice. PJT ranked first in global and U.S. announced and completed restructurings, and management expects activity to remain elevated over the foreseeable future.
• PJT Park Hill revenue increased as strong growth in Private Capital Solutions, particularly secondary transactions, more than offset a challenging primary fundraising market. Management cited favorable secular trends, strong relative performance, and continued investment opportunities in PCS.
• Management expects full-year revenue growth to be below the 24% achieved in the first half, while non-compensation expense growth guidance increased to approximately 14% due to higher travel, professional fees, and AI and technology investments. The CFO transition is planned for October 1, when Arun Kalra will succeed Helen Meates.

PJT Partners Trading Down 0.7%

Shares of PJT Partners stock opened at $171.98 on Wednesday. The stock has a market capitalization of $4.44 billion, a price-to-earnings ratio of 25.30 and a beta of 0.85. PJT Partners has a twelve month low of $127.73 and a twelve month high of $195.62. The business’s 50 day simple moving average is $158.88 and its 200-day simple moving average is $156.55.

PJT Partners Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 16th. Stockholders of record on Wednesday, September 2nd will be given 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 is Wednesday, September 2nd. PJT Partners’s dividend payout ratio is presently 14.58%.

Insider Buying and Selling

In other PJT Partners news, General Counsel David Adam Travin sold 3,000 shares of the stock in a transaction on Wednesday, May 6th. The stock was sold at an average price of $152.43, for a total value of $457,290.00. Following the sale, the general counsel directly 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 filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Helen T. Meates sold 8,000 shares of the stock in a transaction on Friday, May 1st. The stock was sold at an average price of $153.19, for a total value of $1,225,520.00. Following the completion of the sale, the chief financial officer directly owned 58,466 shares in the company, valued at $8,956,406.54. This represents a 12.04% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 10.98% of the company’s stock.

Hedge Funds Weigh In On PJT Partners

Several institutional investors have recently modified their holdings of the company. Morgan Stanley increased its holdings in shares of PJT Partners by 7.5% in the 4th quarter. Morgan Stanley now owns 659,729 shares of the financial services provider’s stock worth $110,307,000 after acquiring an additional 45,758 shares during the period. Wasatch Advisors LP grew its position in PJT Partners by 52.1% in the 4th quarter. Wasatch Advisors LP now owns 587,109 shares of the financial services provider’s stock worth $98,165,000 after purchasing an additional 201,110 shares during the last quarter. Invesco Ltd. grew its position in PJT Partners by 3.2% in the 4th quarter. Invesco Ltd. now owns 535,857 shares of the financial services provider’s stock worth $89,595,000 after purchasing an additional 16,445 shares during the last quarter. Alliancebernstein L.P. grew its position in PJT Partners by 9.8% in the 2nd quarter. Alliancebernstein L.P. now owns 528,689 shares of the financial services provider’s stock worth $87,239,000 after purchasing an additional 47,279 shares during the last quarter. Finally, Raymond James Financial Inc. increased its stake in shares of PJT Partners by 6.7% in the second quarter. Raymond James Financial Inc. now owns 490,566 shares of the financial services provider’s stock valued at $80,948,000 after purchasing an additional 30,860 shares during the period. Institutional investors own 89.23% of the company’s stock.

Key PJT Partners News

Here are the key news stories impacting PJT Partners this week:

• Positive Sentiment: Record Q2 results: PJT Partners reported $1.97 in adjusted EPS, exceeding the $1.57 consensus estimate, while revenue rose 19.5% year over year to $486.29 million versus expectations of $425.28 million. Strong restructuring, placement activity, strategic advisory work and improved partner productivity supported the performance. PJT Partners Reports Record Second Quarter and Six Months 2026 Results
• Positive Sentiment: Positive analyst action: Keefe, Bruyette & Woods raised its price target from $185 to $195 and assigned an “outperform” rating, implying approximately 12% upside from the cited share price. Benzinga analyst update
• Positive Sentiment: Shareholder return: The company declared a quarterly dividend of $0.25 per share, payable September 16 to shareholders of record September 2. The annualized yield is approximately 0.6%.
• Neutral Sentiment: Restructuring remains a support: Management expects elevated restructuring activity to continue, which could help offset weakness elsewhere in the advisory business. PJT Partners: Expecting a Slowdown, Though Restructuring Remains Strong
• Negative Sentiment: Growth and cost concerns: Rising financing costs and market uncertainty are expected to slow strategic-advisory activity, while PJT anticipates roughly 14% growth in 2026 non-compensation expenses. That outlook may be tempering the market’s reaction to the strong quarter.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on PJT shares. UBS Group upped their price target on PJT Partners from $160.00 to $162.00 and gave the company a “neutral” rating in a research report on Wednesday, July 8th. Zacks Research raised shares of PJT Partners from a “strong sell” rating to a “hold” rating in a report on Monday, June 29th. The Goldman Sachs Group raised shares of PJT Partners from a “neutral” rating to a “buy” rating and set a $170.00 target price on the stock in a report on Wednesday, April 1st. Weiss Ratings restated a “hold (c)” rating on shares of PJT Partners in a research report on Friday, May 29th. Finally, Keefe, Bruyette & Woods raised their price target on shares of PJT Partners from $185.00 to $195.00 and gave the stock an “outperform” rating in a research report on Wednesday. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $177.00.

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.