Brokerages Set PJT Partners Inc. (NYSE:PJT) Price Target at $170.50

PJT Partners Inc. (NYSE:PJT) has been given a consensus recommendation of “Hold” by the seven research firms that are currently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $170.50.

PJT has been the topic of several research reports. Keefe, Bruyette & Woods upgraded shares of PJT Partners from a “market perform” rating to an “outperform” rating and dropped their price target for the stock from $180.00 to $166.00 in a research report on Wednesday, April 8th. Wall Street Zen lowered shares of PJT Partners from a “buy” rating to a “hold” rating in a research report on Saturday, March 7th. Zacks Research cut shares of PJT Partners from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 5th. The Goldman Sachs Group raised shares of PJT Partners from a “neutral” rating to a “buy” rating and set a $170.00 price objective on the stock in a research note on Wednesday, April 1st. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of PJT Partners in a report on Thursday, January 22nd.

PJT Partners Stock Performance

Shares of PJT stock opened at $154.08 on Tuesday. PJT Partners has a 1 year low of $127.73 and a 1 year high of $195.62. The stock has a market cap of $3.72 billion, a PE ratio of 23.21 and a beta of 0.88. The business’s fifty day moving average is $145.36 and its 200-day moving average is $162.86.

PJT Partners (NYSE:PJT) last posted its quarterly earnings data on Tuesday, February 3rd. The financial services provider reported $2.55 EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $533.32 million. During the same quarter in the previous year, the business earned $1.90 EPS. The company’s quarterly revenue was up 12.1% compared to the same quarter last year. Equities research analysts predict that PJT Partners will post 7.65 earnings per share for the current year.

PJT Partners Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 18th. Shareholders of record on Wednesday, March 4th were given a $0.25 dividend. The ex-dividend date was Wednesday, March 4th. This represents a $1.00 annualized dividend and a yield of 0.6%. PJT Partners’s payout ratio is 15.06%.

Institutional Investors Weigh In On PJT Partners

Institutional investors and hedge funds have recently modified their holdings of the stock. Royal Bank of Canada grew its holdings in shares of PJT Partners by 45.7% in the 1st quarter. Royal Bank of Canada now owns 11,471 shares of the financial services provider’s stock worth $1,581,000 after acquiring an additional 3,596 shares during the last quarter. AQR Capital Management LLC raised its position in shares of PJT Partners by 57.7% during the first quarter. AQR Capital Management LLC now owns 7,330 shares of the financial services provider’s stock worth $1,011,000 after purchasing an additional 2,681 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of PJT Partners by 4.7% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,887 shares of the financial services provider’s stock valued at $1,915,000 after purchasing an additional 620 shares during the last quarter. Millennium Management LLC boosted its position in shares of PJT Partners by 1,394.5% in the 1st quarter. Millennium Management LLC now owns 52,563 shares of the financial services provider’s stock valued at $7,247,000 after purchasing an additional 49,046 shares during the period. Finally, Goldman Sachs Group Inc. boosted its position in shares of PJT Partners by 5.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 370,536 shares of the financial services provider’s stock valued at $51,090,000 after purchasing an additional 19,806 shares during the period. Institutional investors and hedge funds own 89.23% of the company’s stock.

About PJT Partners

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.