PJT Partners Inc (NYSE:PJT) – Analysts at Piper Sandler lifted their FY2020 earnings per share estimates for PJT Partners in a research note issued on Tuesday, July 28th. Piper Sandler analyst S. Mody now expects that the financial services provider will post earnings per share of $3.21 for the year, up from their prior estimate of $2.67. Piper Sandler has a “Overweight” rating and a $63.00 price target on the stock. Piper Sandler also issued estimates for PJT Partners’ Q2 2021 earnings at $0.87 EPS.
PJT has been the topic of several other reports. ValuEngine downgraded PJT Partners from a “hold” rating to a “sell” rating in a research report on Thursday, July 2nd. JMP Securities reduced their target price on PJT Partners from $59.00 to $57.00 and set a “market outperform” rating on the stock in a research report on Thursday, April 9th. Wolfe Research began coverage on PJT Partners in a report on Wednesday, July 22nd. They issued an “outperform” rating and a $62.00 price objective on the stock. Finally, Zacks Investment Research downgraded PJT Partners from a “buy” rating to a “hold” rating in a report on Friday. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company. PJT Partners currently has an average rating of “Hold” and an average target price of $58.00.
NYSE PJT opened at $53.53 on Friday. The business’s 50-day moving average price is $51.46 and its 200 day moving average price is $47.48. PJT Partners has a twelve month low of $23.63 and a twelve month high of $58.00. The company has a market capitalization of $1.29 billion, a PE ratio of 20.99 and a beta of 0.97. The company has a current ratio of 3.72, a quick ratio of 3.72 and a debt-to-equity ratio of 0.30.
PJT Partners (NYSE:PJT) last released its earnings results on Tuesday, July 28th. The financial services provider reported $1.00 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.68 by $0.32. PJT Partners had a return on equity of 24.08% and a net margin of 7.50%. The firm had revenue of $232.56 million for the quarter, compared to the consensus estimate of $169.70 million.
Hedge funds have recently bought and sold shares of the company. Nisa Investment Advisors LLC acquired a new stake in shares of PJT Partners in the second quarter valued at about $26,000. WASHINGTON TRUST Co acquired a new stake in shares of PJT Partners in the first quarter valued at about $28,000. Marshall Wace LLP acquired a new stake in shares of PJT Partners in the fourth quarter valued at about $51,000. New York State Teachers Retirement System acquired a new stake in shares of PJT Partners in the second quarter valued at about $103,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of PJT Partners by 112.8% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,086 shares of the financial services provider’s stock valued at $158,000 after buying an additional 1,636 shares in the last quarter. Institutional investors and hedge funds own 64.49% of the company’s stock.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 16th. Stockholders of record on Wednesday, September 2nd will be issued a $0.05 dividend. The ex-dividend date is Tuesday, September 1st. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.37%. PJT Partners’s dividend payout ratio (DPR) is 8.30%.
About PJT Partners
PJT Partners Inc, an investment bank, provides various strategic advisory, shareholder engagement, restructuring and special situations, and private fund advisory and placement services to corporations, financial sponsors, institutional investors, and governments worldwide. It offers a range of financial advisory and transaction execution capability, including mergers and acquisitions, joint ventures, minority investments, asset swaps, divestitures, takeover defenses, corporate finance advisory, private placements, and distressed sales.
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