PJT Partners (NYSE:PJT) Cut to “Hold” at Wall Street Zen

Wall Street Zen lowered shares of PJT Partners (NYSE:PJT) from a buy rating to a hold rating in a research report released on Saturday.

Other analysts have also issued reports about the company. The Goldman Sachs Group decreased their target price on PJT Partners from $197.00 to $174.00 and set a “neutral” rating for the company in a research report on Wednesday, February 4th. Zacks Research cut PJT Partners from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 5th. Keefe, Bruyette & Woods boosted their price objective on PJT Partners from $186.00 to $188.00 and gave the company a “market perform” rating in a report on Thursday, January 8th. Wolfe Research reaffirmed an “underperform” rating and set a $150.00 target price on shares of PJT Partners in a research report on Wednesday, January 7th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of PJT Partners in a report on Thursday, January 22nd. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $179.50.

PJT Partners Stock Down 2.5%

Shares of NYSE PJT opened at $140.30 on Friday. The firm has a market cap of $3.41 billion, a PE ratio of 21.13 and a beta of 0.85. The company’s fifty day simple moving average is $166.08 and its 200 day simple moving average is $171.36. PJT Partners has a 12-month low of $119.76 and a 12-month high of $195.62.

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

PJT Partners Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 18th. Investors of record on Wednesday, March 4th will be paid a $0.25 dividend. The ex-dividend date is Wednesday, March 4th. This represents a $1.00 annualized dividend and a yield of 0.7%. PJT Partners’s dividend payout ratio is presently 15.06%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in PJT. Wasatch Advisors LP bought a new stake in PJT Partners in the 3rd quarter valued at about $68,604,000. Invesco Ltd. boosted its position in PJT Partners by 106.7% during the second quarter. Invesco Ltd. now owns 520,056 shares of the financial services provider’s stock worth $85,814,000 after purchasing an additional 268,435 shares during the period. Azora Capital LP bought a new position in PJT Partners during the third quarter worth about $40,061,000. Bessemer Group Inc. increased its stake in shares of PJT Partners by 1,446.5% in the fourth quarter. Bessemer Group Inc. now owns 115,000 shares of the financial services provider’s stock worth $19,229,000 after purchasing an additional 107,564 shares in the last quarter. Finally, Two Sigma Investments LP increased its stake in shares of PJT Partners by 390.1% in the third quarter. Two Sigma Investments LP now owns 84,936 shares of the financial services provider’s stock worth $15,096,000 after purchasing an additional 67,606 shares in the last quarter. Institutional investors own 89.23% of the company’s stock.

About PJT Partners

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.