PJT Partners Inc. (NYSE: PJT) Expected to Post Quarterly Sales of $221.43 Million
Equity research analysts expect PJT Partners Inc. (NYSE:PJT – Get Rating) to report revenue of $221.43 million for the current quarter, according to Zacks. Two analysts made earnings estimates for PJT Partners. The lowest sales estimate is $213.00 million and the highest is $229.85 million. PJT Partners reported sales of $206.70 million in the same quarter last year, suggesting a positive year-over-year growth rate of 7.1%. The company is expected to announce its next quarterly results on Monday, January 1.
On average, analysts expect PJT Partners to report annual revenue of $1.12 billion for the current fiscal year. For the next fiscal year, analysts expect the company to post sales of $1.23 billion, with estimates ranging from $1.23 billion to $1.24 billion. Zacks Investment Research sales averages are an average based on a survey of research firms that cover PJT Partners.
PJT Partners (NYSE:PJT – Get Rating) last reported results on Tuesday, February 1. The financial services provider reported earnings per share (EPS) of $1.52 for the quarter, missing the Zacks consensus estimate of $1.64 per ($0.12). The company posted revenue of $313.27 million for the quarter, compared to $326.90 million expected by analysts. PJT Partners posted a net margin of 10.70% and a return on equity of 27.12%. In the same period a year earlier, the company posted earnings per share of $1.81.
Several equity research analysts have commented on the company. Goldman Sachs Group lowered its price target on PJT Partners from $90.00 to $82.00 and placed a “buy” rating on the stock in a Wednesday, Feb. 2 research report. Piper Sandler reduced its target price on PJT Partners from $80.00 to $69.00 and set an “overweight” rating for the company in a Wednesday, March 9 research note. Zacks Investment Research downgraded PJT Partners from a “buy” rating to a “hold” rating in a Friday, February 4 research report. Finally, StockNews.com began covering PJT Partners in a research report on Thursday, March 31. They issued a “hold” rating for the company. Three investment analysts gave the stock a hold rating and three gave the stock a buy rating. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $85.20.
PJT opened at $63.06 on Wednesday. PJT Partners has a 52-week low of $54.48 and a 52-week high of $89.50. The company has a market capitalization of $1.51 billion, a P/E ratio of 15.77 and a beta of 0.91. The company’s 50-day moving average price is $62.95 and its 200-day moving average price is $72.69.
The company also recently declared a quarterly dividend, which was paid on Wednesday, March 23. Shareholders of record on Wednesday, March 9 received a dividend of $0.25 per share. The ex-dividend date was Tuesday, March 8. This is a positive change from PJT Partners’ previous quarterly dividend of $0.05. This represents an annualized dividend of $1.00 and a yield of 1.59%. PJT Partners’ payout ratio is currently 24.63%.
Several hedge funds have recently bought and sold shares of the company. Counterpoint Mutual Funds LLC bought a new stake in shares of PJT Partners in Q4 for a value of approximately $25,000. Byrne Asset Management LLC acquired a new stake in shares of PJT Partners in the fourth quarter worth $41,000. Northwestern Mutual Wealth Management Co. increased its position in shares of PJT Partners by 226.0% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 740 shares of the financial services provider worth $55,000 after purchasing an additional 513 shares during the period. Rockefeller Capital Management LP increased its position in PJT Partners by 83.1% during the third quarter. Rockefeller Capital Management LP now owns 1,097 shares of the financial services provider valued at $86,000 after buying 498 additional shares in the last quarter. Finally, O Shaughnessy Asset Management LLC increased its position in PJT Partners by 24.0% during the third quarter. O Shaughnessy Asset Management LLC now owns 1,867 shares of the financial services provider valued at $148,000 after buying 361 additional shares in the last quarter. Institutional investors and hedge funds own 68.95% of the company’s shares.
PJT Partners Company Profile (Get a rating)
PJT Partners Inc, an investment bank, provides a variety of strategic and capital markets, restructuring and special situations advice, as well as advisory services to corporate shareholders, financial sponsors, institutional investors and governments around the world. whole world. She provides advisory services to clients on various transactions, including mergers and acquisitions (M&A), spin-offs, activism advocacy, contested M&As, joint ventures, minority investments and divestitures.
Get a Free Copy of Zacks Research Report on PJT Partners (PJT)
For more information on Zacks Investment Research’s research offerings, visit Zacks.com
This instant alert was powered by MarketBeat’s narrative science technology and financial data to provide readers with the fastest and most accurate reports. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send questions or comments about this story to [email protected]
Should you invest $1,000 in PJT Partners right now?
Before you consider PJT Partners, you’ll want to hear this.
MarketBeat tracks daily the highest rated and most successful research analysts on Wall Street and the stocks they recommend to their clients. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the market goes viral…and PJT Partners was not on the list.
Although PJT Partners currently has a “Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.
See the 5 actions here