Equities Analysts Issue Forecasts for PJT Partners Inc.’s Q3 2024 Earnings (NYSE:PJT)

PJT Partners Inc. (NYSE:PJT) – Equities research analysts at Seaport Res Ptn lowered their Q3 2024 earnings per share (EPS) estimates for shares of PJT Partners in a research note issued to investors on Wednesday, July 10th. Seaport Res Ptn analyst J. Mitchell now anticipates that the financial services provider will post earnings of $0.74 per share for the quarter, down from their prior estimate of $0.91. The consensus estimate for PJT Partners’ current full-year earnings is $4.00 per share. Seaport Res Ptn also issued estimates for PJT Partners’ Q4 2024 earnings at $1.45 EPS.

PJT Partners (NYSE:PJT) last announced its earnings results 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. PJT Partners had a net margin of 7.57% and a return on equity of 17.36%. The company had revenue of $329.39 million during the quarter, compared to the consensus estimate of $229.32 million. During the same quarter in the prior year, the company posted $0.54 earnings per share. The firm’s revenue for the quarter was up 64.7% on a year-over-year basis.

Several other equities analysts have also weighed in on PJT. Keefe, Bruyette & Woods increased their price target on shares of PJT Partners from $99.00 to $108.00 and gave the company a “market perform” rating in a research report on Friday. JMP Securities reissued a “market outperform” rating and set a $110.00 target price on shares of PJT Partners in a research report on Tuesday, April 9th. Finally, UBS Group increased their price target on PJT Partners from $85.00 to $93.00 and gave the stock a “sell” rating in a research note on Tuesday. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $99.80.

PJT Partners Trading Up 1.5 %

Shares of PJT Partners stock opened at $113.16 on Thursday. The firm has a market capitalization of $2.71 billion, a P/E ratio of 31.17 and a beta of 0.62. The business’s fifty day simple moving average is $105.46 and its 200 day simple moving average is $100.31. PJT Partners has a 12 month low of $71.47 and a 12 month high of $114.09.

PJT Partners Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 20th. Investors of record on Wednesday, June 5th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.88%. The ex-dividend date of this dividend was Wednesday, June 5th. PJT Partners’s dividend payout ratio (DPR) is 27.55%.

Hedge Funds Weigh In On PJT Partners

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Walleye Trading LLC lifted its stake in PJT Partners by 1.2% during the third quarter. Walleye Trading LLC now owns 11,271 shares of the financial services provider’s stock worth $895,000 after purchasing an additional 136 shares during the last quarter. Wesbanco Bank Inc. bought a new stake in shares of PJT Partners in the 3rd quarter worth approximately $694,000. Amplius Wealth Advisors LLC purchased a new stake in shares of PJT Partners in the 4th quarter valued at $247,000. State of Alaska Department of Revenue bought a new position in shares of PJT Partners during the 4th quarter valued at $1,397,000. Finally, AlphaMark Advisors LLC bought a new position in shares of PJT Partners during the 4th quarter valued at $316,000. Hedge funds and other institutional investors own 89.23% of the company’s stock.

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.