PJT Partners (NYSE:PJT) Downgraded to Sell at ValuEngine

ValuEngine cut shares of PJT Partners (NYSE:PJT) from a hold rating to a sell rating in a report released on Saturday morning, ValuEngine reports.

Several other research firms have also recently issued reports on PJT. Zacks Investment Research cut shares of PJT Partners from a buy rating to a hold rating in a research note on Friday, July 31st. JMP Securities boosted their target price on shares of PJT Partners from $70.00 to $80.00 and gave the company an outperform rating in a research note on Wednesday, October 28th. Finally, TheStreet upgraded shares of PJT Partners from a c rating to a b- rating in a research note on Friday, August 14th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company. PJT Partners currently has an average rating of Buy and an average price target of $67.00.

Shares of NYSE PJT opened at $67.74 on Friday. PJT Partners has a 12 month low of $23.63 and a 12 month high of $76.45. The company has a 50 day simple moving average of $67.52 and a two-hundred day simple moving average of $57.55. The stock has a market cap of $1.61 billion, a price-to-earnings ratio of 26.56 and a beta of 0.95.

PJT Partners (NYSE:PJT) last announced its quarterly earnings data on Tuesday, October 27th. The financial services provider reported $1.36 EPS for the quarter, beating the consensus estimate of $0.80 by $0.56. PJT Partners had a net margin of 7.50% and a return on equity of 23.22%. The business had revenue of $297.56 million during the quarter, compared to analysts’ expectations of $205.99 million. Sell-side analysts forecast that PJT Partners will post 3.34 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 16th. Investors of record on Wednesday, December 2nd will be issued a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.30%. The ex-dividend date of this dividend is Tuesday, December 1st. PJT Partners’s payout ratio is presently 8.30%.

A number of hedge funds and other institutional investors have recently modified their holdings of PJT. State Street Corp increased its holdings in PJT Partners by 2.6% in the 1st quarter. State Street Corp now owns 464,864 shares of the financial services provider’s stock worth $20,170,000 after acquiring an additional 11,570 shares in the last quarter. SG Americas Securities LLC increased its holdings in PJT Partners by 65.9% in the 2nd quarter. SG Americas Securities LLC now owns 13,422 shares of the financial services provider’s stock worth $689,000 after acquiring an additional 5,331 shares in the last quarter. New York State Teachers Retirement System purchased a new stake in PJT Partners in the 2nd quarter worth $103,000. First Trust Advisors LP grew its holdings in shares of PJT Partners by 34.3% during the second quarter. First Trust Advisors LP now owns 41,655 shares of the financial services provider’s stock worth $2,139,000 after buying an additional 10,637 shares in the last quarter. Finally, Nisa Investment Advisors LLC purchased a new stake in shares of PJT Partners during the second quarter worth $26,000. 68.35% of the stock is owned by institutional investors.

PJT Partners Company Profile

PJT Partners Inc, an investment bank, provides various strategic and shareholder advisory, restructuring and special situations, and private fund advisory and fundraising 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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