PJT Partners Inc. (NYSE:PJT) Receives Consensus Recommendation of “Reduce” from Brokerages

PJT Partners Inc. (NYSE:PJT) has been given an average recommendation of “Reduce” by the five ratings firms that are presently covering the stock, MarketBeat reports. Two research analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating on the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $93.25.

PJT has been the topic of several research analyst reports. JMP Securities restated a “market outperform” rating and issued a $110.00 price target on shares of PJT Partners in a research report on Tuesday, April 9th. UBS Group reiterated a “sell” rating and set a $75.00 target price (down from $100.00) on shares of PJT Partners in a research report on Tuesday, March 26th.

PJT Partners Trading Down 0.6 %

PJT Partners stock opened at $106.32 on Friday. The company has a market capitalization of $2.55 billion, a P/E ratio of 29.29 and a beta of 0.64. The firm’s fifty day simple moving average is $101.05 and its 200-day simple moving average is $99.16. PJT Partners has a 1-year low of $67.06 and a 1-year high of $109.33.

PJT Partners (NYSE:PJT) last posted its earnings results on Thursday, May 2nd. The financial services provider reported $0.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.45 by $0.53. The business had revenue of $329.39 million for the quarter, compared to analyst estimates of $229.32 million. PJT Partners had a net margin of 7.57% and a return on equity of 17.36%. PJT Partners’s revenue was up 64.7% compared to the same quarter last year. During the same period last year, the business posted $0.54 EPS. On average, equities research analysts predict that PJT Partners will post 4 earnings per share for the current year.

PJT Partners Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 20th. Stockholders of record on Wednesday, June 5th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.94%. The ex-dividend date was Wednesday, June 5th. PJT Partners’s dividend payout ratio is presently 27.55%.

Institutional Trading of PJT Partners

Several institutional investors and hedge funds have recently added to or reduced their stakes in PJT. Vanguard Group Inc. raised its position in shares of PJT Partners by 0.7% in the first quarter. Vanguard Group Inc. now owns 2,447,154 shares of the financial services provider’s stock valued at $230,669,000 after purchasing an additional 17,463 shares during the period. Eagle Asset Management Inc. grew its stake in shares of PJT Partners by 7.7% in the third quarter. Eagle Asset Management Inc. now owns 969,694 shares of the financial services provider’s stock valued at $77,032,000 after acquiring an additional 69,485 shares in the last quarter. Hsbc Holdings PLC grew its stake in shares of PJT Partners by 11,553.8% in the fourth quarter. Hsbc Holdings PLC now owns 510,089 shares of the financial services provider’s stock valued at $52,120,000 after acquiring an additional 505,712 shares in the last quarter. Champlain Investment Partners LLC acquired a new stake in PJT Partners during the first quarter worth about $43,029,000. Finally, Dimensional Fund Advisors LP grew its stake in PJT Partners by 2.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 421,860 shares of the financial services provider’s stock worth $42,976,000 after buying an additional 8,857 shares in the last quarter. 89.23% of the stock is owned by institutional investors.

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.