Seaport Res Ptn Lowers Earnings Estimates for PJT Partners

PJT Partners Inc. (NYSE:PJT) – Equities researchers at Seaport Res Ptn reduced their FY2024 EPS estimates for shares of PJT Partners in a research note issued on Monday, January 13th. Seaport Res Ptn analyst J. Mitchell now forecasts that the financial services provider will earn $4.20 per share for the year, down from their prior forecast of $4.40. The consensus estimate for PJT Partners’ current full-year earnings is $4.40 per share. Seaport Res Ptn also issued estimates for PJT Partners’ Q1 2025 earnings at $1.09 EPS and Q3 2025 earnings at $1.21 EPS.

PJT Partners (NYSE:PJT) last announced its earnings results on Tuesday, October 29th. The financial services provider reported $0.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.91 by $0.02. The firm had revenue of $326.30 million during the quarter, compared to analyst estimates of $313.46 million. PJT Partners had a net margin of 8.03% and a return on equity of 18.79%. PJT Partners’s revenue was up 17.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.78 EPS.

A number of other equities research analysts also recently weighed in on PJT. JMP Securities downgraded shares of PJT Partners from an “outperform” rating to a “market perform” rating in a report on Monday. UBS Group raised shares of PJT Partners from a “sell” rating to a “neutral” rating and upped their price target for the company from $130.00 to $175.00 in a report on Friday, December 6th. Citizens Jmp downgraded shares of PJT Partners from a “strong-buy” rating to a “hold” rating in a report on Monday. Finally, Keefe, Bruyette & Woods cut their price target on shares of PJT Partners from $159.00 to $152.00 and set a “market perform” rating for the company in a report on Monday. Five research analysts have rated the stock with a hold rating, According to MarketBeat, the company has an average rating of “Hold” and an average target price of $152.25.

PJT Partners Trading Up 3.3 %

Shares of NYSE PJT opened at $161.60 on Wednesday. PJT Partners has a twelve month low of $88.51 and a twelve month high of $168.92. The company has a market capitalization of $3.83 billion, a price-to-earnings ratio of 41.02 and a beta of 0.66. The firm has a 50-day moving average of $159.54 and a two-hundred day moving average of $138.89.

PJT Partners Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 18th. Shareholders of record on Wednesday, December 4th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.62%. The ex-dividend date of this dividend was Wednesday, December 4th. PJT Partners’s dividend payout ratio is presently 25.38%.

Insider Buying and Selling at PJT Partners

In other news, Director James Costos sold 1,500 shares of the stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $161.41, for a total value of $242,115.00. Following the completion of the sale, the director now directly owns 9,360 shares of the company’s stock, valued at $1,510,797.60. This represents a 13.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kenneth C. Whitney sold 1,725 shares of the stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $159.75, for a total transaction of $275,568.75. Following the completion of the sale, the director now directly owns 9,100 shares of the company’s stock, valued at $1,453,725. This trade represents a 15.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 4,766 shares of company stock valued at $762,980. 11.71% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On PJT Partners

A number of hedge funds have recently added to or reduced their stakes in PJT. Point72 Asset Management L.P. acquired a new position in PJT Partners in the second quarter worth approximately $13,803,000. Congress Asset Management Co. increased its holdings in PJT Partners by 29.6% in the third quarter. Congress Asset Management Co. now owns 317,974 shares of the financial services provider’s stock worth $42,399,000 after buying an additional 72,582 shares during the last quarter. State Street Corp increased its holdings in PJT Partners by 5.7% in the third quarter. State Street Corp now owns 1,001,911 shares of the financial services provider’s stock worth $133,595,000 after buying an additional 54,071 shares during the last quarter. Marshall Wace LLP acquired a new position in PJT Partners during the second quarter valued at approximately $5,801,000. Finally, Geode Capital Management LLC grew its holdings in PJT Partners by 7.9% during the third quarter. Geode Capital Management LLC now owns 619,037 shares of the financial services provider’s stock valued at $82,556,000 after purchasing an additional 45,327 shares during the last quarter. Institutional investors and hedge funds 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.