Q2 2024 Earnings Estimate for PJT Partners Inc. Issued By Seaport Res Ptn (NYSE:PJT)

PJT Partners Inc. (NYSE:PJT) – Stock analysts at Seaport Res Ptn decreased their Q2 2024 earnings per share (EPS) estimates for shares of PJT Partners in a research note issued on Thursday, May 2nd. Seaport Res Ptn analyst J. Mitchell now anticipates that the financial services provider will post earnings per share of $0.57 for the quarter, down from their prior 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.

PJT Partners (NYSE:PJT) last announced its earnings results on Thursday, May 2nd. The financial services provider reported $0.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.53. 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 last year, the firm posted $0.54 EPS. The business’s revenue was up 64.7% compared to the same quarter last year.

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

PJT Partners Stock Performance

Shares of PJT opened at $99.34 on Monday. PJT Partners has a fifty-two week low of $61.03 and a fifty-two week high of $107.35. The business has a 50-day moving average of $96.48 and a 200 day moving average of $94.19. The firm has a market cap of $2.38 billion, a P/E ratio of 27.37 and a beta of 0.67.

PJT Partners Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Wednesday, June 5th will be issued a dividend of $0.25 per share. 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 presently 27.55%.

Insider Buying and Selling at PJT Partners

In other news, insider Ji-Yeun Lee sold 10,000 shares of the business’s stock in a transaction dated 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 $7,678,368.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, General Counsel David Adam Travin sold 5,000 shares of the business’s stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $93.21, for a total value of $466,050.00. Following the sale, the general counsel now directly owns 1,541 shares in the company, valued at $143,636.61. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Ji-Yeun Lee sold 10,000 shares of the business’s stock in a transaction dated 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 $7,678,368.18. The disclosure for this sale can be found here. Over the last quarter, insiders sold 27,926 shares of company stock valued at $2,875,672. Company insiders own 10.67% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Walleye Trading LLC raised its stake in PJT Partners by 1.2% in the 3rd quarter. Walleye Trading LLC now owns 11,271 shares of the financial services provider’s stock worth $895,000 after acquiring an additional 136 shares during the last quarter. Parallel Advisors LLC grew its position in PJT Partners by 5.0% during the 4th quarter. Parallel Advisors LLC now owns 3,897 shares of the financial services provider’s stock worth $397,000 after purchasing an additional 184 shares during the period. Prospector Partners LLC grew its position in PJT Partners by 0.4% during the 3rd quarter. Prospector Partners LLC now owns 59,850 shares of the financial services provider’s stock worth $4,754,000 after purchasing an additional 250 shares during the period. Intrust Bank NA grew its position in PJT Partners by 8.6% during the 4th quarter. Intrust Bank NA now owns 3,186 shares of the financial services provider’s stock worth $325,000 after purchasing an additional 251 shares during the period. Finally, Texas Permanent School Fund Corp grew its position in PJT Partners by 1.3% during the 1st quarter. Texas Permanent School Fund Corp now owns 19,517 shares of the financial services provider’s stock worth $1,840,000 after purchasing an additional 255 shares during the period. Institutional investors own 89.23% of the company’s stock.

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.