Brokerages Set PJT Partners Inc. (NYSE:PJT) Price Target at $99.80

PJT Partners Inc. (NYSE:PJT) has been given a consensus rating of “Reduce” by the six research firms that are covering the company, Marketbeat.com reports. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating on the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $99.80.

Several equities analysts have recently weighed in on PJT shares. Keefe, Bruyette & Woods increased their price target on PJT Partners from $99.00 to $108.00 and gave the company a “market perform” rating in a report on Friday, July 12th. UBS Group increased their price target on PJT Partners from $85.00 to $93.00 and gave the company a “sell” rating in a report on Tuesday, July 9th. Finally, JMP Securities reissued a “market outperform” rating and set a $110.00 price target on shares of PJT Partners in a report on Tuesday, April 9th.

PJT Partners Trading Down 1.0 %

Shares of PJT opened at $117.39 on Wednesday. The business’s fifty day simple moving average is $107.29 and its two-hundred day simple moving average is $100.87. PJT Partners has a 12 month low of $71.47 and a 12 month high of $121.90. The company has a market cap of $2.82 billion, a price-to-earnings ratio of 32.34 and a beta of 0.62.

PJT Partners (NYSE:PJT) last released its quarterly earnings results on Thursday, May 2nd. The financial services provider reported $0.98 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.53. The firm had revenue of $329.39 million for the quarter, compared to analysts’ expectations of $229.32 million. PJT Partners had a return on equity of 17.36% and a net margin of 7.57%. The company’s revenue was up 64.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.54 EPS. As a group, research analysts forecast that PJT Partners will post 4 EPS for the current year.

PJT Partners Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, June 20th. Investors of record on Wednesday, June 5th were issued a $0.25 dividend. The ex-dividend date was Wednesday, June 5th. This represents a $1.00 dividend on an annualized basis and a yield of 0.85%. PJT Partners’s dividend payout ratio is currently 27.55%.

Hedge Funds Weigh In On PJT Partners

A number of institutional investors have recently bought and sold shares of the stock. Portside Wealth Group LLC bought a new position in PJT Partners in the 2nd quarter worth $378,000. Ellsworth Advisors LLC raised its holdings in PJT Partners by 6.7% during the second quarter. Ellsworth Advisors LLC now owns 5,237 shares of the financial services provider’s stock valued at $565,000 after acquiring an additional 331 shares during the period. Diversified Trust Co raised its holdings in PJT Partners by 54.8% during the second quarter. Diversified Trust Co now owns 4,900 shares of the financial services provider’s stock valued at $529,000 after acquiring an additional 1,735 shares during the period. Opal Wealth Advisors LLC bought a new stake in PJT Partners during the second quarter valued at about $30,000. Finally, OLD National Bancorp IN bought a new stake in PJT Partners during the second quarter valued at about $204,000. 89.23% of the stock is 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.