PJT Partners (NYSE:PJT) Upgraded to “Outperform” at Keefe, Bruyette & Woods

Keefe, Bruyette & Woods upgraded shares of PJT Partners (NYSE:PJT) from a market perform rating to an outperform rating in a research note published on Wednesday, MarketBeat reports. Keefe, Bruyette & Woods currently has $166.00 price target on the financial services provider’s stock, down from their previous price target of $180.00.

Other equities research analysts have also issued research reports about the company. Weiss Ratings reissued a “hold (c+)” rating on shares of PJT Partners in a report on Thursday, January 22nd. UBS Group decreased their price objective on PJT Partners from $180.00 to $151.00 and set a “neutral” rating for the company in a report on Thursday, March 12th. Wolfe Research reissued an “underperform” rating and issued a $150.00 price objective on shares of PJT Partners in a report on Wednesday, January 7th. Zacks Research lowered PJT Partners from a “strong-buy” rating to a “hold” rating in a report on Monday, January 5th. Finally, Wall Street Zen downgraded PJT Partners from a “buy” rating to a “hold” rating in a research note on Saturday, March 7th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $170.50.

PJT Partners Stock Performance

Shares of PJT opened at $146.82 on Wednesday. The business has a 50-day moving average of $146.83 and a 200 day moving average of $164.52. PJT Partners has a fifty-two week low of $122.99 and a fifty-two week high of $195.62. The firm has a market cap of $3.55 billion, a P/E ratio of 22.11 and a beta of 0.88.

PJT Partners (NYSE:PJT) last announced its quarterly earnings data on Tuesday, February 3rd. The financial services provider reported $2.55 earnings per share for the quarter, topping the consensus estimate of $2.41 by $0.14. PJT Partners had a return on equity of 31.69% and a net margin of 10.51%.The company had revenue of $535.16 million during the quarter, compared to analyst estimates of $533.32 million. During the same quarter last year, the firm posted $1.90 EPS. The firm’s revenue for the quarter was up 12.1% on a year-over-year basis. As a group, research analysts predict that PJT Partners will post 6.2 earnings per share for the current fiscal year.

PJT Partners Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 18th. Shareholders of record on Wednesday, March 4th were paid a $0.25 dividend. The ex-dividend date was Wednesday, March 4th. This represents a $1.00 annualized dividend and a yield of 0.7%. PJT Partners’s dividend payout ratio (DPR) is currently 15.06%.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in PJT. EFG Asset Management North America Corp. bought a new stake in shares of PJT Partners during the 3rd quarter valued at about $1,256,000. Mutual of America Capital Management LLC boosted its position in shares of PJT Partners by 19.1% during the 3rd quarter. Mutual of America Capital Management LLC now owns 78,321 shares of the financial services provider’s stock valued at $13,920,000 after acquiring an additional 12,537 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its position in shares of PJT Partners by 17.9% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 208,264 shares of the financial services provider’s stock valued at $37,015,000 after acquiring an additional 31,594 shares during the last quarter. Congress Asset Management Co. boosted its position in shares of PJT Partners by 5.4% during the 3rd quarter. Congress Asset Management Co. now owns 531,378 shares of the financial services provider’s stock valued at $94,442,000 after acquiring an additional 27,232 shares during the last quarter. Finally, Kornitzer Capital Management Inc. KS bought a new stake in shares of PJT Partners during the 3rd quarter valued at about $4,839,000. Institutional investors own 89.23% of the company’s stock.

PJT Partners Company Profile

PJT Partners is a global advisory-focused investment bank that delivers strategic advisory, restructuring and special situations, and capital solutions to corporations, partnerships, and governments. The firm operates through three primary business segments: Strategic Advisory, which covers mergers and acquisitions, shareholder advisory, and capital markets advisory; Restructuring and Special Situations, which provides advice on debt and liability management, distressed mergers and acquisitions, and financial restructurings; and Park Hill, the firm’s dedicated capital-raising and secondary advisory business for private equity, real estate, hedge funds, and infrastructure.

The Strategic Advisory practice at PJT Partners assists clients with complex transactions such as cross-border mergers, spin-offs, divestitures, and takeover defenses, drawing on deep industry expertise and global reach.