Q2 2024 EPS Estimates for PJT Partners Inc. (NYSE:PJT) Decreased by Analyst

PJT Partners Inc. (NYSE:PJT) – Stock analysts at Seaport Res Ptn cut their Q2 2024 earnings per share (EPS) estimates for shares of PJT Partners in a research report issued to clients and investors on Thursday, May 2nd. Seaport Res Ptn analyst J. Mitchell now forecasts that the financial services provider will post earnings of $0.57 per share for the quarter, down from their previous 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.

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

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

PJT Partners Stock Up 0.1 %

Shares of NYSE:PJT opened at $99.43 on Monday. PJT Partners has a 12-month low of $61.03 and a 12-month high of $107.35. The company’s 50 day moving average price is $96.38 and its two-hundred day moving average price is $94.36. The firm has a market cap of $2.38 billion, a PE ratio of 27.39 and a beta of 0.67.

PJT Partners Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Wednesday, June 5th will be given a dividend of $0.25 per share. The ex-dividend date is Wednesday, June 5th. This represents a $1.00 annualized dividend and a dividend yield of 1.01%. PJT Partners’s dividend payout ratio is currently 27.55%.

Insider Buying and Selling at PJT Partners

In related news, CFO Helen T. Meates sold 12,926 shares of the company’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $105.51, for a total transaction of $1,363,822.26. Following the completion of the transaction, the chief financial officer now directly owns 48,821 shares in the company, valued at approximately $5,151,103.71. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other PJT Partners news, insider Ji-Yeun Lee sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $104.58, for a total value of $1,045,800.00. Following the completion of the transaction, the insider now directly owns 73,421 shares in the company, valued at approximately $7,678,368.18. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Helen T. Meates sold 12,926 shares of the stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $105.51, for a total value of $1,363,822.26. Following the completion of the sale, the chief financial officer now owns 48,821 shares of the company’s stock, valued at $5,151,103.71. The disclosure for this sale can be found here. Insiders have sold a total of 27,926 shares of company stock worth $2,875,672 over the last 90 days. Insiders own 10.67% of the company’s stock.

Hedge Funds Weigh In On PJT Partners

A number of institutional investors and hedge funds have recently modified their holdings of PJT. Hsbc Holdings PLC lifted its stake in PJT Partners by 11,553.8% in the fourth quarter. Hsbc Holdings PLC now owns 510,089 shares of the financial services provider’s stock valued at $52,120,000 after purchasing an additional 505,712 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of PJT Partners by 15.0% in the fourth quarter. Vanguard Group Inc. now owns 2,429,691 shares of the financial services provider’s stock worth $247,513,000 after purchasing an additional 317,437 shares during the last quarter. Jacobs Levy Equity Management Inc. purchased a new position in shares of PJT Partners in the third quarter valued at about $14,387,000. Principal Financial Group Inc. increased its stake in shares of PJT Partners by 934.8% during the fourth quarter. Principal Financial Group Inc. now owns 129,872 shares of the financial services provider’s stock valued at $13,230,000 after buying an additional 117,322 shares during the period. Finally, Chartwell Investment Partners LLC bought a new stake in shares of PJT Partners during the 3rd quarter valued at about $8,676,000. 89.23% of the stock is currently owned by institutional investors.

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.