Piper Sandler Equities Analysts Lower Earnings Estimates for PJT Partners Inc. (NYSE:PJT)

PJT Partners Inc. (NYSE:PJTGet Rating) – Stock analysts at Piper Sandler cut their FY2022 earnings per share (EPS) estimates for shares of PJT Partners in a research report issued to clients and investors on Thursday, April 7th. Piper Sandler analyst S. Mody now forecasts that the financial services provider will post earnings per share of $4.43 for the year, down from their prior estimate of $5.06. Piper Sandler has a “Overweight” rating and a $60.00 price objective on the stock.

Several other equities research analysts also recently commented on the company. Zacks Investment Research upgraded PJT Partners from a “sell” rating to a “hold” rating in a report on Wednesday, April 6th. StockNews.com initiated coverage on PJT Partners in a research note on Thursday, March 31st. They set a “hold” rating for the company. Wolfe Research upgraded PJT Partners from a “peer perform” rating to an “outperform” rating and set a $83.00 price target for the company in a research note on Thursday. JMP Securities cut their price target on PJT Partners from $98.00 to $86.00 and set a “market outperform” rating for the company in a research note on Thursday. Finally, The Goldman Sachs Group cut their price target on PJT Partners from $90.00 to $82.00 and set a “buy” rating for the company in a research note on Wednesday, February 2nd. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, PJT Partners has a consensus rating of “Buy” and a consensus price target of $79.17.

NYSE PJT opened at $62.66 on Monday. PJT Partners has a one year low of $54.48 and a one year high of $89.50. The stock has a 50-day moving average of $62.65 and a 200 day moving average of $72.28. The company has a market capitalization of $1.50 billion, a price-to-earnings ratio of 15.43 and a beta of 0.91.

PJT Partners (NYSE:PJTGet Rating) last posted its quarterly earnings results on Tuesday, February 1st. The financial services provider reported $1.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.64 by ($0.12). PJT Partners had a return on equity of 27.12% and a net margin of 10.70%. The company had revenue of $313.27 million during the quarter, compared to analysts’ expectations of $326.90 million. During the same period in the prior year, the firm earned $1.81 EPS.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 23rd. Investors of record on Wednesday, March 9th were issued a $0.25 dividend. The ex-dividend date of this dividend was Tuesday, March 8th. This is a boost from PJT Partners’s previous quarterly dividend of $0.05. This represents a $1.00 dividend on an annualized basis and a yield of 1.60%. PJT Partners’s payout ratio is currently 24.63%.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Counterpoint Mutual Funds LLC purchased a new stake in shares of PJT Partners during the 4th quarter worth approximately $25,000. Byrne Asset Management LLC purchased a new stake in shares of PJT Partners during the 4th quarter worth approximately $41,000. Northwestern Mutual Wealth Management Co. raised its holdings in shares of PJT Partners by 226.0% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 740 shares of the financial services provider’s stock worth $55,000 after acquiring an additional 513 shares in the last quarter. Rockefeller Capital Management L.P. raised its holdings in shares of PJT Partners by 83.1% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 1,097 shares of the financial services provider’s stock worth $86,000 after acquiring an additional 498 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC raised its holdings in shares of PJT Partners by 24.0% during the 3rd quarter. O Shaughnessy Asset Management LLC now owns 1,867 shares of the financial services provider’s stock worth $148,000 after acquiring an additional 361 shares in the last quarter. 68.95% of the stock is currently owned by institutional investors.

About PJT Partners (Get Rating)

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.

See Also

Earnings History and Estimates for PJT Partners (NYSE:PJT)

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