Seaport Res Ptn Analysts Cut Earnings Estimates for PJT Partners Inc. (NYSE:PJT)

PJT Partners Inc. (NYSE:PJT) – Seaport Res Ptn reduced their Q2 2024 earnings per share estimates for PJT Partners in a research note issued on Thursday, May 2nd. Seaport Res Ptn analyst J. Mitchell now expects that the financial services provider will post earnings of $0.57 per share 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.

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

PJT Partners Price Performance

NYSE PJT opened at $99.53 on Monday. PJT Partners has a 1 year low of $59.61 and a 1 year high of $107.35. The company has a market capitalization of $2.38 billion, a PE ratio of 27.42 and a beta of 0.67. The company has a fifty day moving average of $96.57 and a 200 day moving average of $94.02.

PJT Partners (NYSE:PJT) last announced its quarterly earnings data on Thursday, May 2nd. The financial services provider reported $0.98 EPS for the quarter, beating the consensus estimate of $0.45 by $0.53. The business had revenue of $329.39 million during the quarter, compared to analysts’ expectations of $229.32 million. PJT Partners had a net margin of 7.57% and a return on equity of 17.44%. The business’s quarterly revenue was up 64.7% compared to the same quarter last year. During the same period in the previous year, the business posted $0.54 EPS.

Institutional Trading of PJT Partners

Several large investors have recently made changes to their positions in the company. Handelsbanken Fonder AB grew its position in shares of PJT Partners by 65.4% in the fourth quarter. Handelsbanken Fonder AB now owns 4,300 shares of the financial services provider’s stock valued at $438,000 after purchasing an additional 1,700 shares in the last quarter. State of Alaska Department of Revenue acquired a new stake in shares of PJT Partners in the 4th quarter worth $1,397,000. Dark Forest Capital Management LP raised its holdings in shares of PJT Partners by 90.2% during the 3rd quarter. Dark Forest Capital Management LP now owns 24,433 shares of the financial services provider’s stock worth $1,941,000 after acquiring an additional 11,589 shares during the period. Schroder Investment Management Group boosted its position in shares of PJT Partners by 22.1% during the 3rd quarter. Schroder Investment Management Group now owns 371,730 shares of the financial services provider’s stock valued at $29,530,000 after acquiring an additional 67,197 shares during the last quarter. Finally, Chartwell Investment Partners LLC purchased a new stake in shares of PJT Partners in the third quarter valued at about $8,676,000. 89.23% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, General Counsel David Adam Travin sold 5,000 shares of the business’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $93.21, for a total value of $466,050.00. Following the completion of the sale, the general counsel now owns 1,541 shares of the company’s stock, valued at approximately $143,636.61. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other PJT Partners news, insider Ji-Yeun Lee sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $104.58, for a total transaction of $1,045,800.00. Following the completion of the sale, the insider now directly owns 73,421 shares in the company, valued at approximately $7,678,368.18. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, General Counsel David Adam Travin sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $93.21, for a total value of $466,050.00. Following the completion of the transaction, the general counsel now owns 1,541 shares in the company, valued at approximately $143,636.61. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 27,926 shares of company stock worth $2,875,672. 10.67% of the stock is owned by corporate insiders.

PJT Partners Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Wednesday, June 5th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Wednesday, June 5th. This represents a $1.00 dividend on an annualized basis and a yield of 1.00%. PJT Partners’s payout ratio is 27.55%.

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.