PJT Partners (NYSE:PJT) Lowered to Hold Rating by Wall Street Zen

Wall Street Zen downgraded shares of PJT Partners (NYSE:PJT) from a buy rating to a hold rating in a research report sent to investors on Saturday morning.

A number of other equities analysts also recently weighed in on PJT. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of PJT Partners in a research report on Thursday, January 22nd. The Goldman Sachs Group cut their price objective on shares of PJT Partners from $197.00 to $174.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 4th. UBS Group initiated coverage on shares of PJT Partners in a report on Thursday, December 11th. They set a “neutral” rating and a $180.00 target price for the company. Wolfe Research reaffirmed an “underperform” rating and issued a $150.00 target price on shares of PJT Partners in a research report on Wednesday, January 7th. Finally, Zacks Research lowered shares of PJT Partners from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 5th. One investment 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 MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $179.50.

PJT Partners Price Performance

Shares of PJT Partners stock opened at $144.10 on Friday. The firm has a market cap of $3.50 billion, a price-to-earnings ratio of 21.70 and a beta of 0.85. The stock’s 50-day moving average is $166.70 and its 200-day moving average is $171.64. PJT Partners has a one year low of $119.76 and a one year high of $195.62.

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

PJT Partners Announces Dividend

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

Hedge Funds Weigh In On PJT Partners

Hedge funds and other institutional investors have recently made changes to their positions in the company. CWM LLC raised its position in PJT Partners by 50.8% during the third quarter. CWM LLC now owns 181 shares of the financial services provider’s stock worth $32,000 after acquiring an additional 61 shares in the last quarter. Aster Capital Management DIFC Ltd acquired a new stake in PJT Partners in the third quarter valued at $33,000. Salomon & Ludwin LLC bought a new position in shares of PJT Partners in the 3rd quarter valued at about $41,000. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in shares of PJT Partners by 75.9% during the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 285 shares of the financial services provider’s stock worth $47,000 after purchasing an additional 123 shares during the last quarter. Finally, Allworth Financial LP increased its stake in shares of PJT Partners by 85.8% during the 4th quarter. Allworth Financial LP now owns 288 shares of the financial services provider’s stock worth $48,000 after purchasing an additional 133 shares during the last quarter. 89.23% of the stock is owned by institutional investors.

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.