FY2024 EPS Estimates for PJT Partners Cut by Seaport Res Ptn

PJT Partners Inc. (NYSE:PJT) – Analysts at Seaport Res Ptn decreased their FY2024 EPS estimates for PJT Partners in a research note issued on Monday, January 13th. Seaport Res Ptn analyst J. Mitchell now expects that the financial services provider will post earnings per share of $4.20 for the year, down from their prior estimate 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 issued its earnings results on Tuesday, October 29th. The financial services provider reported $0.93 EPS for the quarter, beating the consensus estimate of $0.91 by $0.02. PJT Partners had a return on equity of 18.79% and a net margin of 8.03%. The company had revenue of $326.30 million during the quarter, compared to the consensus estimate of $313.46 million. During the same period last year, the business posted $0.78 EPS. The firm’s revenue for the quarter was up 17.2% compared to the same quarter last year.

Several other research firms also recently issued reports on PJT. UBS Group raised shares of PJT Partners from a “sell” rating to a “neutral” rating and lifted their price target for the company from $130.00 to $175.00 in a research report on Friday, December 6th. Keefe, Bruyette & Woods reduced their price objective 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. JMP Securities lowered shares of PJT Partners from an “outperform” rating to a “market perform” rating in a report on Monday. Finally, Citizens Jmp downgraded PJT Partners from a “strong-buy” rating to a “hold” rating in a research note on Monday. Five equities research analysts have rated the stock with a hold rating, According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $152.25.

PJT Partners Stock Up 2.9 %

NYSE PJT opened at $156.65 on Wednesday. PJT Partners has a 52 week low of $88.51 and a 52 week high of $168.92. The business has a 50 day moving average price of $159.58 and a 200-day moving average price of $138.73. The company has a market cap of $3.71 billion, a price-to-earnings ratio of 39.76 and a beta of 0.66.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Los Angeles Capital Management LLC purchased a new stake in shares of PJT Partners during the 3rd quarter valued at $453,000. Citigroup Inc. grew its position in PJT Partners by 101.1% during the third quarter. Citigroup Inc. now owns 30,103 shares of the financial services provider’s stock valued at $4,014,000 after buying an additional 15,135 shares during the period. Geode Capital Management LLC increased 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 worth $82,556,000 after buying an additional 45,327 shares during the last quarter. JPMorgan Chase & Co. raised its position in PJT Partners by 91.4% in the third quarter. JPMorgan Chase & Co. now owns 72,270 shares of the financial services provider’s stock worth $9,636,000 after acquiring an additional 34,514 shares during the period. Finally, Atria Investments Inc raised its position in PJT Partners by 5.9% in the third quarter. Atria Investments Inc now owns 2,563 shares of the financial services provider’s stock worth $342,000 after acquiring an additional 142 shares during the period. Hedge funds and other institutional investors own 89.23% of the company’s stock.

Insider Activity

In other PJT Partners news, Director James Costos sold 1,500 shares of the company’s stock in a transaction dated 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 approximately $1,510,797.60. This represents a 13.81 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, General Counsel David Adam Travin sold 1,541 shares of PJT Partners stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $159.18, for a total transaction of $245,296.38. The disclosure for this sale can be found here. Insiders sold a total of 4,766 shares of company stock worth $762,980 over the last quarter. Insiders own 11.71% of the company’s stock.

PJT Partners Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 18th. Stockholders of record on Wednesday, December 4th were paid a $0.25 dividend. The ex-dividend date was Wednesday, December 4th. This represents a $1.00 annualized dividend and a dividend yield of 0.64%. PJT Partners’s payout ratio is 25.38%.

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.