PJT Partners (NYSE:PJT) Upgraded at The Goldman Sachs Group

The Goldman Sachs Group upgraded shares of PJT Partners (NYSE:PJT) from a neutral rating to a buy rating in a research report released on Wednesday, MarketBeat Ratings reports. The brokerage currently has $170.00 target price on the financial services provider’s stock.

Several other equities analysts have also recently issued reports on PJT. Keefe, Bruyette & Woods lifted their price objective on PJT Partners from $186.00 to $188.00 and gave the stock a “market perform” rating in a report on Thursday, January 8th. UBS Group lowered their target price on PJT Partners from $180.00 to $151.00 and set a “neutral” rating on the stock in a report on Thursday, March 12th. Wall Street Zen cut PJT Partners from a “buy” rating to a “hold” rating in a research report on Saturday, March 7th. Zacks Research downgraded PJT Partners from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 5th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of PJT Partners in a research report on Thursday, January 22nd. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $174.00.

PJT Partners Stock Up 0.3%

Shares of NYSE PJT opened at $140.39 on Wednesday. The stock has a market capitalization of $3.39 billion, a price-to-earnings ratio of 21.14 and a beta of 0.88. PJT Partners has a 52 week low of $119.76 and a 52 week high of $195.62. The firm has a 50-day moving average price of $148.93 and a 200 day moving average price of $165.54.

PJT Partners (NYSE:PJT) last issued its earnings results on Tuesday, February 3rd. The financial services provider reported $2.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.41 by $0.14. The company had revenue of $535.16 million during the quarter, compared to analysts’ expectations of $533.32 million. PJT Partners had a net margin of 10.51% and a return on equity of 31.69%. The firm’s quarterly revenue was up 12.1% compared to the same quarter last year. During the same period last year, the company posted $1.90 earnings per share. Equities research analysts expect that PJT Partners will post 6.2 EPS for the current fiscal year.

PJT Partners Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 18th. Stockholders of record on Wednesday, March 4th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend was Wednesday, March 4th. PJT Partners’s payout ratio is currently 15.06%.

Hedge Funds Weigh In On PJT Partners

Institutional investors and hedge funds have recently modified their holdings of the company. Hsbc Holdings PLC grew its stake in PJT Partners by 10.3% in the 4th quarter. Hsbc Holdings PLC now owns 31,930 shares of the financial services provider’s stock worth $5,371,000 after acquiring an additional 2,971 shares during the period. Osbon Capital Management LLC purchased a new position in shares of PJT Partners during the 4th quarter worth $93,000. Caitong International Asset Management Co. Ltd boosted its holdings in shares of PJT Partners by 2,338.1% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 512 shares of the financial services provider’s stock worth $86,000 after purchasing an additional 491 shares during the last quarter. Invesco Ltd. grew its position in shares of PJT Partners by 3.2% in the fourth quarter. Invesco Ltd. now owns 535,857 shares of the financial services provider’s stock valued at $89,595,000 after purchasing an additional 16,445 shares during the period. Finally, XTX Topco Ltd acquired a new position in PJT Partners in the fourth quarter valued at $957,000. Hedge funds and other institutional investors own 89.23% of the company’s stock.

PJT Partners Company Profile

PJT Partners is a global advisory-focused investment bank that delivers strategic advisory, restructuring and special situations, and capital solutions to corporations, partnerships, and governments. The firm operates through three primary business segments: Strategic Advisory, which covers mergers and acquisitions, shareholder advisory, and capital markets advisory; Restructuring and Special Situations, which provides advice on debt and liability management, distressed mergers and acquisitions, and financial restructurings; and Park Hill, the firm’s dedicated capital-raising and secondary advisory business for private equity, real estate, hedge funds, and infrastructure.

The Strategic Advisory practice at PJT Partners assists clients with complex transactions such as cross-border mergers, spin-offs, divestitures, and takeover defenses, drawing on deep industry expertise and global reach.