PJT Partners Inc (NYSE:PJT) has been given a consensus broker rating score of 1.67 (Buy) from the three brokers that cover the company, Zacks Investment Research reports. One research analyst has rated the stock with a hold rating and two have assigned a strong buy rating to the company. PJT Partners’ rating score has declined by 67% from three months ago as a result of a number of analysts’ ratings changes.
Analysts have set a 1-year consensus price objective of $48.67 for the company and are predicting that the company will post $0.71 earnings per share for the current quarter, according to Zacks. Zacks has also given PJT Partners an industry rank of 198 out of 265 based on the ratings given to related companies.
PJT has been the subject of a number of analyst reports. Zacks Investment Research downgraded PJT Partners from a “hold” rating to a “sell” rating in a research note on Friday, October 13th. JMP Securities began coverage on PJT Partners in a research note on Monday, September 18th. They set an “outperform” rating and a $45.00 target price for the company. Finally, Buckingham Research began coverage on PJT Partners in a research note on Wednesday, January 3rd. They set a “neutral” rating and a $51.00 target price for the company.
PJT Partners (NYSE PJT) opened at $48.85 on Wednesday. The firm has a market capitalization of $1,680.00 and a P/E ratio of 80.08. PJT Partners has a one year low of $30.03 and a one year high of $49.38.
PJT Partners declared that its Board of Directors has approved a stock buyback program on Tuesday, October 31st that allows the company to buyback $100.00 million in shares. This buyback authorization allows the financial services provider to repurchase shares of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its stock is undervalued.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 20th. Stockholders of record on Wednesday, December 6th were paid a dividend of $0.05 per share. The ex-dividend date of this dividend was Tuesday, December 5th. This represents a $0.20 annualized dividend and a dividend yield of 0.41%. PJT Partners’s dividend payout ratio is currently 32.79%.
Hedge funds and other institutional investors have recently modified their holdings of the company. Royal Bank of Canada boosted its stake in shares of PJT Partners by 283.2% during the 2nd quarter. Royal Bank of Canada now owns 9,324 shares of the financial services provider’s stock worth $375,000 after acquiring an additional 6,891 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of PJT Partners by 41.6% during the 2nd quarter. JPMorgan Chase & Co. now owns 75,647 shares of the financial services provider’s stock worth $3,043,000 after acquiring an additional 22,206 shares during the period. Prudential Financial Inc. bought a new position in shares of PJT Partners during the 3rd quarter worth approximately $2,123,000. Vanguard Group Inc. lifted its holdings in PJT Partners by 6.4% during the 2nd quarter. Vanguard Group Inc. now owns 697,533 shares of the financial services provider’s stock worth $28,055,000 after purchasing an additional 41,741 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its holdings in PJT Partners by 33.6% during the 2nd quarter. Renaissance Technologies LLC now owns 503,900 shares of the financial services provider’s stock worth $20,267,000 after purchasing an additional 126,700 shares during the last quarter. Institutional investors own 58.20% of the company’s stock.
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About PJT Partners
PJT Partners Inc is an advisory-focused investment bank. The Company offers an array of strategic advisory, restructuring and special situations and private fund advisory and placement services to corporations, financial sponsors, institutional investors and governments. It provides, through Park Hill Group, private fund advisory and placement services for alternative investment managers, including private equity funds, real estate funds and hedge funds.
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